LayBuy, an innovative "buy now, pay later" platform, is set to launch its app in the UK. Much like the popular Afterpay app, this new platform will allow users to shop at some of the world's biggest retail chains, paying off their expenditures in six interest-free installments.
UK-based citizens will be able to download the app on both Apple and Android devices, which will provide them access to over 5000 online stores that have partnered with the brand to allow for pay-later shopping. The app will include a built-in shopping directory, letting users browse various stores and items. Then, when it comes time to pay, a user's details will automatically fill out, and they will be able to choose their preferred payment plan.
"Today’s launch is a significant step towards Laybuy’s goal of making Laybuy available everywhere," said Gary Rohloff, MD, LayBuy.
Interest-Free Pay-Later Apps
LayBuy Launches in the UK Presenting a Viable Alternative to Afterpay
Trend Themes
1. Interest-free Pay-later Apps - Innovative platforms like LayBuy and Afterpay are increasing in popularity, presenting opportunities for the development of new pay-later apps.
2. Built-in Shopping Directories - Apps like LayBuy with a built-in shopping directory will enhance user experience and potentially lead to more brand partnerships and collaborations.
3. Online Retail Partnership - Pay-later apps like LayBuy are partnering with online stores, offering a new way to shop and creating disruptive innovation opportunities for the retail industry.
Industry Implications
1. Retail - Interest-free pay-later apps like LayBuy and Afterpay are disrupting the retail industry, creating opportunities for partnerships and collaborations with new platforms.
2. Finance - The rise of interest-free pay-later apps like LayBuy offers opportunities for innovation in finance, such as developing new payment plans and collaborating with retail stores.
3. Technology - The introduction of apps like LayBuy, with a built-in shopping directory, is creating opportunities for technology companies to develop similar apps and enhance user experience.