Laybuy Partners with Footasylum to Mark UK Launch

“New Zealand-based ‘buy now, pay later’ platform Laybuy has marked its official UK launch by announcing a partnership with high street brand Footasylum,” George Nixon reports for The Daily Mail.

“Online customers of the trainer specialist will be able to purchase items interest-free and spread the cost over six separate weekly instalments from today, with an in-store payment option coming later in 2019.”

“The partnership is Laybuy’s first outside Oceania, having signed up 3,750 shops in its native New Zealand since launching two years ago.”

“It will hope its partnership with Footasylum, which stocks brands like Adidas, New Balance and The North Face, will help it make a comparable splash to Swedish platform Klarna, which has partnered with retail giant H&M and also signed up rap icon Snoop Dog.”

The antipodean firm has more stringent eligibility requirements than Klarna, requiring a hard credit check using Experian which will show up on your credit file, and charging £6 for late payments.

“We’re incredibly excited to bring our service to Footasylum shoppers in the UK. Our research here indicates that there is a demand for weekly repayment options – in fact, this is the most common way for people to budget,” said co-founder and managing director Gary Rohloff.

Clare Nesbitt, Footasylum’s chief executive, said: “By choosing to pay by Laybuy it’s a win win for our customers, enabling them to juggle both sensible budgeting and style.”

Article Source: Daily Mail, George Nixon, March 11, 2019

Image Source: Laybuy Blog