Interest-Free Payments Coming to UK High Street Stores

  • Laybuy, New Zealand’s largest buy now, pay later service, launches in the UK
  • Footasylum is Laybuy’s first major retail partner in the UK
  • Consumers can spread purchase costs over six interest-free payments
  • In-store payment option to be launched in Footasylum’s 70 UK stores later this year
  • Users receive a spending limit of £60-£720 after Experian credit check
  • Laybuy aims to help retailers navigate challenges and boost sales

Laybuy, a popular buy now, pay later service from New Zealand, has officially launched in the UK with Footasylum as its first major retail partner. This partnership allows consumers to spread the cost of purchases over six interest-free payments, starting at the point of sale. The collaboration will initially offer online payment options, followed by in-store options in Footasylum’s 70 UK stores later this year. Laybuy has been onboarding merchants since October 2018 and believes its service can help retailers navigate industry challenges while boosting sales and customer acquisitions. Footasylum customers will undergo a credit check to receive a spending limit of £60-£720, with the option to pay the remaining balance in cash if needed. Laybuy’s co-founder Gary Rohloff expressed excitement about partnering with Footasylum, while CEO Clare Nesbitt sees it as a positive step for their customer base.

Factuality Level: 10
Factuality Justification: The article provides accurate information about Laybuy’s launch in the UK with Footasylum as its first major retail partner and includes quotes from relevant sources.
Noise Level: 2
Noise Justification: The article provides relevant information about Laybuy’s launch in the UK with Footasylum as its first major retail partner and quotes from key figures involved in the partnership. It also explains how the service works for customers. However, it lacks analysis or exploration of broader trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Buy now, pay later industry
Financial Rating Justification: The article discusses Laybuy’s expansion into the UK market and its partnership with Footasylum, which is relevant to financial topics as it involves a payment service and impacts the buy now, pay later industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: No extreme event mentioned in the article, just the launch of a buy now, pay later service in the UK by Laybuy and partnership with Footasylum.

Reported publicly: www.retailsector.co.uk