PayU Eyes Full-Stack Consumer Payments Through LazyPay

PayU, a fintech firm backed by Naspers, is set to broaden its consumer payment offerings through its LazyPay mobile application. Although merchant payments will continue to be a core focus, PayU aims to develop LazyPay into a full-stack consumer payments and credit solution, according to Anirban Mukherjee, the company's CEO.

Mukherjee emphasized that while LazyPay is currently experiencing rapid growth, PayU plans to build a strong consumer brand around it. The company's vision extends beyond B2B transactions, aspiring to create a B2B2C platform that caters to enterprise merchants, financial institutions, and consumers alike.

Initially established as an online merchant payments business, PayU has evolved into a comprehensive fintech firm in India. This transformation includes its credit business, marked by the acquisition of Paysense, the development of LazyPay, and the integration of a tech stack through Wibmo, which PayU acquired in 2019.

Mukherjee revealed that PayU's various sub-brands, including LazyPay and Wibmo, will eventually be consolidated under the PayU umbrella. The company is also anticipating new regulations that may allow non-bank lenders to leverage Unified Payments Interface (UPI) for credit opportunities.

In addition to its current initiatives, PayU is exploring expansion into wealth management and insurance distribution. The firm holds a 30% stake in Bengaluru-based wealthtech startup Fisdom, which aligns with its long-term growth strategy.

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PayU is on track for a planned public listing, with the initial steps toward creating an independent Indian business already completed. Recently, the company received approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator in the country.