What is Digital Credit Card?

The digital credit card allows getting online credit make purchases online just like the traditional credit card. A digital credit card has a miniature computer that generates a new credit card number each time the user makes a purchase. As these numbers are for single-use, the users must also use a PIN or OTP, which is required for a debit card or traditional credit card to complete the transaction. The credit card companies expect that digital credit cards will significantly reduce card fraud. Even if someone gets to know a temporary credit card number, it cannot be used after a user has completed the transaction. Further, a fraudster cannot complete a transaction without knowing the user’s PIN. Hence, there is a rare possibility of fraud happening through using a digital credit card. Gradually, a digital credit card is replacing a traditional credit card which has many risks associated with it. Anyone who has details of someone’s physical credit card can easily do a fraudulent international transaction as in the case of international transactions, there is no need to authenticate the transaction with the OTP. So, a digital credit card offers more security than a traditional credit card.

Benefits of Digital Credit Card

Apart from being secured payment method, digital credit card has many other benefits, some of which are listed below:

  1. Convenient to Use: Since the card is not physical, the details can be saved on the mobile phone and can be used for transacting. Hence, there is no need to carry any physical card.
  2. Provides an option to set the credit limit: You can set the credit limit as required by you
  3. Easy to Cancel: The digital credit can be cancelled anytime through your smartphone.
  4. Security: No one can do fraudulent transactions on your card. Moreover, one needs to submit KYC documents and the issuer has approved before issuance of the card.

LazyPay Digital Credit Card

Recently, LazyPay has launched a digital credit card that combines the features of both UPI and ‘Buy Now, Pay later’. It is known by the name of LazyUPI, which offers the cardholders real-time credit using UPI at offline merchant locations as well as online purchases. This facility is integrated into the existing LazyPay apps; hence you can create your account within minutes by completing the KYC process online. You can get an online credit limit of up to Rs.1 lakh.  based on your credit history and credit rating. You also have an option to make the part repayment. As mentioned above, it offers all the advantages of a digital credit card. The solution offered by LazyPay ensures transparency and easy accessibility of the online credit transactions as well as merchant location transactions to ease the financial burden of the consumers. LazyUPI aims to replace the traditional credit card.

So, hurry up, register on LazyPay and get a digital credit card and get instant credit on your favourite purchases. You don’t need to worry about paying the entire outstanding in one billing cycle. You can pay the Minimum Amount Due (MAD) and transfer your outstanding to the next billing cycle along with a standard interest rate. So, don’t wait further, immediately create a LazyPay Id and shop at your favourite website apps. You may pay immediately and if you are eligible, you can pay using ‘Shop now, pay later’ plan.

Download theLazyPay app, get your credit limit and enjoy making those purchases like you never have !!!

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