Simpl VS LazyPay: Which One is Better? Detailed Comparision

Simpl VS LazyPay: Both Simpl and LazyPay are two BNPL apps that offer almost the same services. However, there are some differences between them. In this article, I’ll compare Simpl Pay Later with LazyPay Pay Later.

I will compare the features and benefits, charges, customer support, eligibility criteria, and app overview of Simpl and LazyPay. After this comparison, you’ll be able to consider which one is better for you.

So, without further ado, let’s get started…

What is Simpl?

Simpl Pay Later

Simpl is a BNPL (Buy Now and Pay Later) service that offers an instant credit limit of up to ₹25,000. You can use this credit balance for various online transactions and pay the bills within the next due or in EMIs.

Simpl Pay Later bill gets generated twice every month, on the 1st and 15th of the month. If you use the credit limit between the 1st and 15th of the month, then your bill will be generated on the 15th of the month.

Similarly, if you shop with your Simpl Pay Later credit balance between the 16th and 30th of the month, in that case, your Simpl bill will be generated on the 1st of the next month.

Aside, when it comes to safety and security, then Simpl is a great BNPL service that offers credit through an RBI-approved financial partner.

What is LazyPay?

LazyPay Pay Later

LazyPay is also a credit service that offers a Buy Now Pay Later option, credit cards, and personal loans. LazyPay has partnered with PayU Finance, which provides credit limit to the users.

With LazyPay Pay Later, you can get up to ₹1 lakh credit limit instantly. You can use your LazyPay credit balance at more than 100 merchants in India such as Flipkart, BigBasket, Zomato, Swiggy, and many others.

Not only this you can also pay at some selected offline stores by using the LazyPay scan and pay feature.

You can pay the full outstanding amount within the next due, and you can also pay the bills in EMIs. Like Simpl, LazyPay also generates your Pay Later bill twice every month. It gives you 15 days of billing cycle.

Simpl VS LazyPay: App Overview

App NameSimpl: Shop Now Pay LaterLazyPay: Loan App and Pay Later
CategoryBNPLLoan and BNPL
Available onPlay Store and Apps StorePlay Store and Apps Store
App Ratings4.3⭐ on Play Store4.4 ⭐ on Play Store
Safe and SecureYESYES
Total Downloads1Crore+ on Play Store1 Crore+ on Play Store
App Size25 MB27 MB

Simpl VS LazyPay: Features and Benefits

Simpl Pay Later offers an instant credit limit of up to ₹25,000. This credit limit can be increased as you shop more with this credit balance.

No paperwork, the complete application process is digital. You can activate it within a few minutes just by completing your basic KYC.

You can use your Simpl Pay Later balance at more than 25,000 merchants in India. View the list of merchants that accept payments made with Simpl.

Simpl Pay Later doesn’t have any hidden charges. Moreover, it doesn’t charge any interest on your outstanding amount if you even pay the dues later.

On the Simpl app, you can recharge your mobile and make bill payments using your Simpl Pay Later credit.

If you are unable to pay the dues later, in that case, you can pay your bills in 3 easy EMIs with no additional cost.

From time to time, Simpl Pay Later gives offers to customers. Simpl Pay Later also offers cashback and rewards for making transactions.

To activate Simpl Pay Later, you don’t need any CIBIL or credit score. You can use Simpl even if your credit score is zero.

As a Buy Now Pay Later service, Simpl helps you improve your credit score if you make repayments timely.

LazyPay offers an instant credit balance of up to ₹1 lakh, which you can use for various online and offline transactions.

LazyPay is available at almost every popular online store. More than 100 merchants in India accept payments made with LazyPay.

If you shop more and make transactions frequently with your LazyPay credit balance, then you can increase your credit limit.

The application process of LazyPay Pay Later is 100% digital and paperless. You just need to register by filling in your basic KYC details.

If you can’t pay the full outstanding amount within the next due date, then you can choose the No Cost EMI option.

LazyPay provides a Scan and Pay feature which is quite similar to UPI’s Scan and Pay. You can scan a merchant QR code and pay with your LazyPay credit balance.

LazyPay provides a Recharge and Bill Payments section in their app. So you can do recharges and make bill payments with your LazyPay credit limit.

Like Simpl Pay Later, LazyPay also gives rewards and cashback to customers for making various transactions with their credit balance.

If you make the repayments timely and use LazyPay frequently, then it will help you increase your credit score.

Simpl VS LazyPay: Fees and Charges

Fees and ChargesSimplLazyPay
Late Payment Fees₹250 + applicable GST4% of the bill + applicable GST
Interest Charges on Late PaymentZero3.5% of the outstanding amount
Convenience FeesUp to ₹3 + applicable GST2-3% of the outstanding amount + GST
Joining FeesN/AN/A
Maintenance ChargesN/AN/A

Simpl VS LazyPay: Eligibility Criteria

1. You can be eligible if you are an Indian citizen and residing in a tier-1 or tier-2 city of India.

2. You must be a salaried person, no matter whether you’re working in a private or a government sector.

3. Your age must be at least 18 years.

4 Apart from these, you must have a bank account, PAN card, and Aadhaar card to complete your basic KYC.

1. You must be a salaried individual and your age should be between 22-55 years.

2. You must be an Indian citizen and residing in a tier-1 or tier-2 city of India.

3. You’ll also require your PAN number, a bank account number with IFSC, and net banking to enable autopay.

Simpl VS LazyPay: Contact and Support

Contact OptionsSimplLazyPay
Live Chat SupportYESYES
Email SupportYESYES
Phone SupportN/AYES
WhatsApp SupportN/AN/A

Simpl VS LazyPay: Which One is Better for You?

Now we have come to the end of this article. This detailed comparison shows, that although Simpl and LazyPay are two different BNPL apps, they still offer some similar features and benefits.

And, if we talk about the differences between Simpl and LazyPay, then we can see it in the features, changes, and eligibility criteria. Like, LazyPay provides a Scan and Pay feature that Simpl doesn’t.

Similarly, there are multiple differences between them. If you’ve read this article, then you definitely know the differences and similarities between Simpl and LazyPay. Now you can consider which one is better for you.

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