> ## Documentation Index
> Fetch the complete documentation index at: https://razorpay-60c89f9a-mintlify-audit-missing-sections-1778528421.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Pay Later

> Accept payments from your customers using the **Pay Later** service offered by various third-party providers.

* **Pay Later Changelog**: Discover new features, updates and deprecations related to Pay Later (since Jan 2024).

Accept payments from your customers using the **Pay Later** service offered by various third-party providers.

* Know about [how to enable/disable Pay Later](/payments/dashboard/account-settings/payment-methods#request-for-payment-methods-and-support) as a payment method for your account.
* No additional integration is required to show Pay Later on your Standard Checkout integration.

<Warning>
  **Watch Out!**

  Instant Refunds are not supported on EMI, Cardless EMI and Pay Later.
</Warning>

## How it Works

Based on the concept [Buy Now, Pay Later](https://en.wikipedia.org/wiki/Buy_now,_pay_later):

<Steps>
  <Step title="Step 1">
    The customers get a running line of credit by registering with any providers.
  </Step>

  <Step title="Step 2">
    When customers buy goods or services on your website or apps, no money is debited from their accounts.
  </Step>

  <Step title="Step 3">
    You receive the payments from their providers.
  </Step>

  <Step title="Step 4">
    The customer pays back to the provider as per the fixed schedule defined by the provider.
  </Step>
</Steps>

**At Razorpay Checkout:**

1. At the Checkout, customers enter their contact details and from the displayed list of **Pay Later** providers, customers select their preferred provider.

2. Customers authorise their accounts via the OTP sent to their registered phone numbers.

3. Payment is completed after successful validation.

## Supported Pay Later Providers

## **Provider name** | **Provider Code**

## LazyPay | `lazypay`

PayPal | `paypal`

<Info>
  **Handy Tips**

  * PayPal now supports the Pay Later feature. You should enable both [PayPal](/payments/payment-methods/wallets/paypal#to-enable-paypal) and the Pay Later options under Account & Settings → Pay Later (under Payment methods) on the Dashboard to enable the Pay Later feature.
  * Check the standard interest rates charged by [Pay Later providers](https://razorpay.com/docs/build/llm-docs/payments/payment-gateway/emi²/faqs.md#2-what-are-the-standard-interest-rates-charged).
</Info>