Indian online instant credit app LazyPay has launched a digital credit card to offer easy access to credit across online and offline platforms.

Dubbed LazyUPI, the offering allows users to access real-time credit using Unified Payments Interface (UPI) across omnichannel networks.

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UPI is an instant real-time payment system developed by National Payments Corporation of India which facilitates inter-bank transactions.

LazyUPI, which is seamlessly integrated with existing LazyPay apps, allows customers to sign up for their accounts using a two-minute KYC process.

Similar to LazyPay, users will not have to link their bank account(s) with UPI to access credit through the new offering.

It is said to offer a credit limit up to INR100,000 based on the credit history and payment behaviour of the users.

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LazyPay business head Anup Agrawal said: “Since its inception, LazyPay has always innovated to fulfil customers’ expectations, demands and evolving needs.

“LazyUPI is a testament to our efforts in that direction. The solution enables transparent, frictionless and accessible credit transactions to ease the financial complexities of our consumers. Additionally, as customers shift their preferred mode of transaction towards UPI, LazyUPI aims to replace the traditional Credit Card.”

LazyUPI users can choose part-repayment option in case they are unable to repay in a monthly billing cycle with its Revolve feature.

This feature will help users to pay a minimum amount due and transfer the total outstanding amount to the next payment cycle, along with a standard interest rate.

Indians are increasingly relying on UPI as a preferred mode of digital payment. UPI recorded over 1.61 billion transactions amounting to nearly INR2.98 trillion last month.

LazyPay expects to add over two million customers on the LazyUPI platform by end of this financial year.