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Laybuy to offer ‘buy now pay later’ solution to JD Sports customers

Buy now, pay later service provider Laybuy has partnered with UK retailer JD Sports to provide its risk-free and interest-free payments service to online customers, allowing them to spread the cost of purchases over six equal weekly interest-free payments at the checkout.

Laybuy logo

Laybuy allows retail customers to spread costs over six weeks

The deal with JD comes after a number of deals with retailers such as WH Smith, TONI&GUY, Henmores and Psyche, and allows customers to make purchases using an iOS and Android app.

Furthermore, customers opting for the buy now, pay later service, will have the option to pay more upfront if their credit limit is lower than the total purchase order.

In a statement, Laybuy explained that a customer may have an available credit limit of £120 but wants to purchase something for £200. Through Laybuy Boost, the customer can make a higher initial payment of £80 and then pay off the balance of £120, equal to their available credit limit, over 5 instalments of £24.

This, the provider said, gives customers additional flexibility but ensures they do not spend beyond their means.

Gary Rohloff, MD and Co-Founder of Laybuy, said: “We’re delighted to bring our innovative and flexible payment option to JD Sports in the UK. We know consumers want more choice at the checkout, and that weekly interest-free payments plans are important to them. It’s also great news for Laybuy users in the UK, who now have another exciting retailer to shop with.”

The solution is risk-free for retailers as they receive the payment upfront, while Laybuy takes on the credit risk for the weekly payments.

The provider noted that its platform is proven to help retailers increase sales, basket size and the number of transactions, as well as gain new customers. Its retail partners have seen order values rise by 70 per cent, online and instore conversion rates increase by up to 50 per cent and new customer acquisition rise by 30 per cent.

The company, which was founded in 2017, describes itself as having a responsible approach to lending by never charging interest and using robust credit and affordability checks powered by Experian to set responsible credit Laybuy limits. If consumers want to purchase larger items outside their credit Laybuy limit they can use the Laybuy Boost option, where they can pay the difference up-front and spread the rest of their payments as they normally would.

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