LazyPay partners with SMB Bank India to launch LazyCard

LazyPay, a buy-now-pay-later provider in India, has partnered with SMB Bank India to launch LazyCard, a prepaid card backed by a credit line. The companies aim to empower financially underserved Indians by offering access to credit, according to a press release.

The card is powered by Visa and SMB Bank India and can be linked to the LazyPay app. Users can earn 1% to 5% cash back on every transaction with the card with Visa Platinum rewards, retention rewards and welcome rewards. LazyPay is currently only offering the card to select customers, with plans to roll out to more customers soon.

«There is a need to solve for the credit needs using Smartbanking solutions that are available, accessible, and affordable,» Neeraj Sinha, head of retail and consumer banking, SMB Bank India, said in the release. «SBM Bank India is endeavoring, as a part of its comprehensive SmartBanking solution set, in partnership with LazyPay, to introduce the Visa powered LazyCard. Further this Card will smoothen the entire loan processing capability at LazyPay's end thus helping to bring them towards better financial inclusion. We are elated to partner with LazyPay towards this prepaid card.»

Source: ATM Marketplace