JD Sports has added another ‘buy now, pay later’ (BNPL) scheme to its offering as it partners with Laybuy.
Customers can now pay for goods in six interest-free weekly payments using Laybuy’s service.
The sportswear giant already offers a number of BNPL services from Klarna and Cleapay, but this move demonstrates the customer demand for more flexibility at the checkout.
“We’re delighted to bring our innovative and flexible payment option to JD Sports in the UK,” Laybuy’s co-founder and managing director Gary Rohloff said.
“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.”
Laybuy, which also launched a partnership with WHSmith earlier this month, also offers a ‘Boost’ option which allows customers to pay more upfront for their items if their credit limit won’t cover their purchase.
While payment schemes like Laybuy and Klarna have quickly risen to prominence over the past year, with Laybuy alone counting high street majors JD Sports, Footasylum and AlexaChung as partners, concerns have also been raised about their safety.
Last month it was reported that two million UK shoppers have had their credit scores damaged by ‘buy now, pay later’ schemes driving increasing levels of consumer debt.
Young shoppers are the worst hit, with 33 per cent of 25 to 34-year-olds stating they’ve used a ‘buy now, pay later’ scheme over the past year and 39 per cent of those stating this has damages their credit score.
Laybuy says that it offers a responsible approach to lending and never charges interest, partnering with global credit bureau Experian to set responsible credit limits.