Buy now, pay later outfit Laybuy has partnered with online fashion retailers PrettyLittleThing and HYPE., allowing customers to split their payment into six equal weekly instalments.
Laybuy’s payment option is interest free and is due to go live with both retailers later this month.
Gary Rohloff, MD and co-founder of Laybuy, said: “We’re delighted to announce PrettyLittleThing and HYPE. as the next two fashion brands to join the Laybuy family. We understand customers want more flexibility at the checkout, but at the same time want assurance that payments are risk-free and interest-free. That’s exactly what Laybuy has been designed to do, and we’re so excited to bring this to PrettyLittleThing and HYPE. customers in the UK.”
Laybuy has partnered with Experian to conduct robust credit checks for all customers and esnsure responsible credit limits are set.
Better customer experience
The BNPL company aims to help the two retailers increase sales, basket size and the number of transactions, as well as help attract new customers.
Nicki Capstick, Marketing Director of PrettyLittleThing, said: “It’s always an important focus for us in giving our customers greater experiences whilst shopping at PLT and Laybuy allows us to provide a better and more innovative way of checking out. We’re super excited for this partnership for UK customers.”
Adding to this, Liam Green, Creative Director and co-founder of HYPE., said: “Bringing an alternative pay method to justhype.com will allow our customers to have complete flexibility at the checkout with a secure payment. We’re excited to partner up with Laybuy to make this happen, we know our customers will be thrilled just as much as we are.”
According to Laybuy, since its 2017 launch, the company’s retail partners have seen order values rise by 60%, online and in-store conversion rates increase by 50%, and new customer acquisition rise by 30%.
Retailers receive a full payment up-front, while Laybuy carries all of the credit risk.