Klarna acquires BNPL Laybuy’s asset in New Zealand

By Gloria Mathias

Klarna, the AI-powered global payments network and shopping assistant, has acquired Laybuy’s assets in New Zealand, the payment provider, and plans to relaunch the service in the coming weeks.

Laybuy, which ceased operations in June, is set to make a reenergized return in New Zealand under Klarna. With Klarna’s extensive expertise and global presence, New Zealand consumers and merchants will benefit from a revitalized platform with superior payment flexibility and user experience.

David Sykes, Chief Commercial Officer at Klarna, said, “Laybuy established itself as a cherished brand in New Zealand and we’re excited to build on those foundations to take Laybuy to new heights under the Klarna umbrella. We have some truly exciting plans and can’t wait to begin sharing them with consumers and merchants.”

As New Zealand’s BNPL titleholder, Laybuy has served customers and merchants with its no-interest, flexible payment options since its launch in 2017. Over half a million consumers in New Zealand have opened a Laybuy account, enabling them to shop at Laybuy’s 10,000+ merchants.

Klarna is at the forefront of driving seamless commerce tailored to consumer needs. With over 85 million global active users and 2.5 million transactions daily, Klarna’s sustainable, AI-powered payment and shopping solutions are transforming how people shop and pay, both online and in-store. Klarna empowers consumers to shop with confidence and convenience, supported by over 550,000 global retailers, including brands like Uber, Airbnb, H&M, Sephora, Macy’s, and Nike.

Klarna will begin to contact Laybuy’s customers and inform them about the payment provider’s next steps.