As per the RBI guidelines, LazyPay has discontinued the buy-now-pay-later (BNPL) payment product, LazyCard or LazyPlus UPI.
In June 2022, the RBI banned loading on PPI instruments from the credit line, which affected BNPL companies like Slice Pay and Uni Pay. They used to issue prepaid wallets that functioned as credit cards, which is no longer allowed by the RBI.
As a result, Slice has adopted UPI and prepaid wallet options, and both Uni and LazyPay are now issuing credit cards. LazyPay has collaborated with RBL Bank to issue a co-branded credit card – the RBL Bank LazyPay credit card.
RBL Bank LazyPay credit card is an entry level credit card that offers 1% unlimited cashback with zero membership fee. Rbl lazypay credit card comes in two variants: visa or mastercard.
Charges of RBL LazyPay Credit Card
- Joining/Annual Fee: Lifetime Free credit card with no joining and annual fee.
- Welcome Benefit: Rs 250 cashback on making a transaction of Rs. 100 or more within 30 days of card issuance.
Features & Benefits of RBL LazyPay Credit Card
Cashback Benefits
- You get 1% cashback on all online and POS transactions with no maximum capping.
- No cashback on fuel transactions, rental, cash, insurance payments, and quasi cash transactions.
Cashback Redemption
The earned cashback will be credited to your statement within 10 days of the transaction.
Payback in Easy EMIs
You can convert your LazyPay credit card purchases into monthly EMIs at your convenience.
How to Apply RBL LazyPay Credit Card
To apply for the RBL Bank Lazypay Credit Card, you will need to download the “LazyPay: Loan App & Pay Later” mobile app from playstore.
Here are the steps to follow:
- Download the “LazyPay: Loan App & Pay Later” mobile app from the play store.
- Click on “Get Your Card” to check your eligibility and apply for the RBL LazyPay Credit Card.
- Register with your name, date of birth, and PAN details.
- Fill in personal information such as employment status and income.
- Fill in your address and click on the “Confirm” button.
- Check your eligibility for the card.
- If eligible, complete the “Know Your Customer” (KYC) process with RBL Bank entirely digitally.
Conclusion
As per my opinion, RBL LazyPay credit card is not a worthy option as there are several other credit cards available in the market that offer more cashback benefits.
Best Alternates
- ICICI Amazon Pay credit card offers 5% cashback on Amazon shopping and 1% on all other purchases with a lifetime free membership.
- Flipkart Axis credit card provides 5% cashback on flipkart purchases and 1.5% on all other online & offline spends.
- Axis Ace credit card is a beginner-level credit card that provides 5% cashback on Gpay payments and 2% on all other spends.
In case of any further query regarding any issue to apply for the RBL LazyPay credit card, you can contact RBL customer care at 08069081111 between 9 AM to 9 PM.
