LazyPay, a Buy Now Pay Later (BNPL) solution by PayU Finance, announced its partnership with SBM Bank India to launch LazyCard, a prepaid payment instrument backed by a credit line that works on the Visa payment network. To empower financially underserved Indians with easy access to credit as their card has limited credit options. LazyCard reaches over 62 million pre-approved users of LazyPay, with a credit limit of up to 5 lakhs. Consumers could avail the Lazycard at zero joining fees and zero annual fees along with multiple transactional benefits and rewards.
Important takeaways for all competitive exams:
- SBM Bank Incorporated: 1st December 2018
- SBM Bank Headquarters: Mumbai, Maharashtra
- SBM Bank CEO & MD: Sidharth Rath