Laybuy launches Buy Now, Pay Later “game changer” app as sector hots up

Buy now, pay later is booming. But for all the growth and revenues in the sector innovation is hard to come by given its innate simplicity. This makes competition fierce. Providers can offer different instalment lengths but - put simply - they all offer the same service.  

Given the huge rewards on offer, firms are having to look to differentiate as well as match features.

Customers of buy now, pay later provider Laybuy can now spread purchases from 5,000 retail brands such as Amazon, eBay, ASOS and Nike into six interest-free instalments using its newly launched app.

The launch of the Laybuy app means its strategy now more closely resembles Klarna’s, which increasingly aims to drive customers to its app to discover purchases and keep track of spending.

The app, however, has a built-in ‘shop directory’ where the retailer’s website loads up as normal within the Laybuy App. When they go to pay, their details will be automatically completed, allowing them to pay for their purchases using Laybuy.

Laybuy also launched a virtual card via a Mastercard partnership in June, allowing customers to store the card in their digital wallets in order to pay at checkout of various retailers with Laybuy partnerships.

Gary Rohloff, Managing Director and Co-founder, Laybuy: Today’s launch is a significant step towards Laybuy’s goal of making Laybuy available everywhere. Not all shops accept BNPL or often it’s a different provider. This is a real game-changer and means Laybuy will soon be available in the UK at more than 5,000 brands. Now people have the choice to shop using Laybuy at Amazon, ASOS, eBay or even EasyJet .”

Launched in 2017, Laybuy is New Zealand’s leading Buy Now, Pay Later (BNPL) service with a growing presence in the United Kingdom and Australia.