No cash? No problem, with India's mobile microcredit

Services let users pay for ordered meals and hailed rides all at once

Lazypay.jpg

Lazypay lets users borrow up to about $1,400, depending on how much personal information they supply.

AKIRA HAYAKAWA, Nikkei staff writer

MUMBAI -- Indian consumers are increasingly using smartphone microcredit apps to make small purchases on the fly, leaving the actual payments for later.

Internet services are spreading fast in India, from online shopping to meal deliveries and ride-hailing. Mobile microcredit is yet another example. The apps let users make numerous minor purchases with borrowed funds and repay everything in a batch.

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