Laybuy, New Zealand’s largest buy now, pay later service, officially launches in the UK today with Footasylum confirmed as its first major retail partner. Footasylum is a UK-based fashion retailer focusing on the branded footwear and apparel markets.
Having been built on decades of retail expertise, Laybuy provides a solution to retailers’ margin squeezing promotional crisis by allowing consumers to spread the cost of purchases over six interest-free payments, with the first being made at the point of sale.
The partnership will see the option to pay by Laybuy made available to Footasylum customers on its online store from today, with the in-store payment option being launched in Footasylum’s 70 UK high street stores later this year.
Gary Rohloff, Co-Founder and Managing Director, Laybuy said: “We’re incredibly excited to be partnering with Footasylum to bring Laybuy to UK shoppers. The UK retail sector is experiencing unprecedented challenges as retailers attempt to navigate troubled waters. By providing retailers with a genuine alternative to discounts and promotions, Laybuy can not only help drive sales, but also significantly boost new customer acquisitions.
“Laybuy’s proposition represents a unique offering for our customer base. We believe that by providing customers with a means of paying for our products over time as part of their weekly budgeting, this partnership will be a positive step forward for us”, said Clare Nesbitt, CEO, Footasylum. “Laybuy’s track record speaks for itself and we’re delighted to be the first major UK retailer to offer it as a payment option.”