Niki.ai, India’s leading AI startup has partnered with LazyPay, India’s first-of-its kind deferred payment option by PayU India, to enable ‘buy now, pay later’ feature for its users. Eliminating the need for repeated OTPs, CVV numbers or net banking details, LazyPay provides seamless & frictionless checkout experience to users by offering an option to pay later for their transactions. The Pay Later feature on Niki.ai will add to the premium accelerated checkout experience, and further enhance the convenience of making a transaction on a simple chat window interface.
Customers often end up transacting on the go and hence there is always a risk of transactions failure or cart abandonment. Buy Now Pay Later offerings to provide customers with the ease of completing a transaction with one single tap at checkout. This is a revolutionary product which is streamlining and facilitating everyday payments.
Speaking on the occasion, Sachin Jaiswal, CEO, Niki.ai said “We have always aimed to provide as much convenience as possible to our customers while transacting online, which remains one of the most important bases of the idea behind Niki. Partnering with LazyPay is a great step towards providing a seamless check out experience to our customers and solving the inconvenience of hopping through multiple steps before checkout while making small transactions.”
“We conducted a pilot project with a select few customers for ‘Buy Now Pay Later’ facility. The initial response was overwhelming and increasingly many customers were using LazyPay to pay their bills and recharge their mobile and DTH connections. LazyPay provides an unmatched transaction success rate and conversions resulting in attracting new customers, increasing repeat customers and helping to grow our business. We are confident that many more of our customers will benefit through LazyPay’s premium and swift checkout experience”, he further added
Commenting on the partnership, Pallav Jain, Head- Consumer Business, PayU India commented, “We are truly excited with this opportunity to partner with Niki.ai. Our primary focus is to leverage our technology to deliver world class experience to customers and drive higher conversions for merchants. It is our commitment to provide our partner merchants with an advantage of our proactive analytics and machine learning algorithms that are part of PayU’s architecture. We have separated purchases from payments and thus have removed the risk of transaction failures”.
The bills will be raised in two cycles for the pay later service users. Users of this service will receive an intimation of the amount to be paid and the payment due date by email and SMS. They can make a payment by clicking on the payment link provided therein. Payment can be made within 3 days of receiving the bill/statement, to avoid the late fee.