Laybuy launches partner programme as BNPL growth increases

Laybuy, has launched a global partner programme to provide retailers a more flexible, interest-free payment option at the checkout.

The ‘buy now, pay later’ (BNPL) service is offered by more than 6,000 merchants and its new partner programme is designed to ensure retailers can capitalise on the demand for its services.

The Worldpay from FIS 2020 Global Payments Report data found that e-commerce has increased by 13 percent in the UK. The data also reported that BNPL options are rising to 39 percent in the UK, and if this growth continues it could double the market share of online purchases in the country by 2023.

Gary Rohloff, Laybuy’s co-founder and managing director, said in a statement: “Buy now, pay later is proving to be a huge hit with consumers who want better, more flexible and interest-free payment options. Together with our partners, we’re enabling UK retailers, large and small, to offer their customers this smarter way to pay.”

The service is provided by brands such as Boohoo, JD Sports, Toni&Guy and The Hut Group, as well as others.

To date, Laybuy’s retail partners have seen order values rise by up to 70 percent, online and in-store conversion rates have increased by 50 percent and new customer acquisition rise by 30 percent.

Photo credit: Laybuy, Facebook