Laybuy has announced it is launching a “pay in six” scheme throughout its catalogue of brands which is exclusively available on the Laybuy app.
The buy now pay later (BNPL) brand’s new programme does not require any integration with retailers on their shopfronts which the company says makes the scheme widely and rapidly accessible.
Alongside the programme, 200 new retailers have been added to the app with immediate effect, which means that Laybuy’s affiliate programme will reach more than 5000 leading online brands.
Brands include Ebay, Nike, Adidas, Bose, Foot Locker and even Amazon.
All shoppers need to do is download the Laybuy app and sign in to their account before shopping the Laybuy directory.
The customer is then able to select the retailer they wish to shop with before shopping and checking out as normal, where the pay in six method is available.
Affiliate merchants will have access to the BNPL brand’s fast growing user base of over 750,000 customers.
When the pay in six method is selected, customers will complete their purchase by paying one instalment every week for six weeks.
In order to make sure its users are able to complete the purchases without missing a payment, Laybuy carries out credit checks on every new customer when they sign up to the app.
Laybuy is the only BNPL provider in the UK to perform a hard credit check on its users.
The company has performed well so far this financial year, with its gross merchandise value seeing growth of over 500 per cent year-on-year.
The affiliates programme follows the release of Laybuy’s digital BNPL card which launched in June.
The card, known as “Tap to Pay”, allows customers to purchase goods and services at UK retailers in-store with a tap of the digital card on their smartphone.
“Today’s launch is a significant step towards Laybuy’s goal of making Laybuy available everywhere, and a clear signal of our ambitious plans for growth in the UK,” Laybuy managing director Gary Rohloff said.
“Not all shops accept BNPL or often it’s a different provider.
“Our affiliates programme is a real game changer and means Laybuy will soon be available in the UK at more than 5,000 brands.
“Now, we and the retailers on our affiliate programme are giving people an even greater choice of shopping using Laybuy at household brands like Amazon, ASOS, eBay or even EasyJet.”