LazyPay is a new payment service launched by digital payments company PayU India that allows consumers to defer payments for purchases from select merchants. It initially provides customers Rs. 2,500 in credit that can increase up to Rs. 10,000 based on purchase history, with bills due within 15 days to avoid Rs. 10 daily penalty fees. The service aims to let customers buy items quickly and pay later while ensuring transaction safety and saving them time typically spent on payments.