SYDNEY, AUSTRALIA: Laybuy Group Holdings Limited announced the launch of the Affiliate Marketing Network is exceeding internal projections with both orders processed and GMV five times ahead of Laybuy’s internal one month forecast.
The network, which was launched at the end of August, gives UK shoppers the ability to pay with Laybuy at hundreds of new retailers, including at some of the world’s leading and most iconic brands, Amazon, NET-A-PORTER, ASOS, eBay, Levi’s, Acne Studios and Marks & Spencer to name just a few.
Laybuy’s Affiliate Marketing Network is the Company’s latest product innovation and, in conjunction with in-app exclusives, will create a whole new seamless and easy shopping experience, allowing consumers to pay with Laybuy across hundreds of retailers throughout the UK.
Laybuy Co-Founder and Managing Director, Gary Rohloff, commented: “The new product, delivering in-app exclusives, is a key part of Laybuy’s new affiliate platform and will introduce UK shoppers to even more brands, allowing them to buy more of the goods they want and love and spread the cost over six weeks, interest-free.”
“The launch of the new in-app product and complementary platform will allow the Company to rapidly increase the number of merchants in the UK where Laybuy customers can pay with Laybuy. This will help drive significant increases in both the value and number of transactions made using the Company’s services.”
“Shoppers simply need to visit the Shop Directory in the Laybuy App and select the merchant that they wish to shop with. They then shop as normal but pay with the Laybuy Virtual Card, a single-use digital card that allows them to pay with Laybuy through the app.
The “Virtual Card” will automatically be pre-populated into the relevant field on the merchant’s checkout, creating a seamless experience via the existing integrated BNPL offering, effectively reducing the shopping journey to just one click.”
Laybuy has been embraced by UK consumers. In the past financial year alone, the value of goods purchased using Laybuy has increased by more than 500% year on year, with the Company anticipating that this will continue to accelerate with the launch of the Affiliate Marketing Network.
The platform supports Laybuy’s existing integrated BNPL offering through a new app-only browser experience using the tap to pay digital card functionality to complete the purchase.
Commented on the Affiliate Marketing Network, Laybuy’s General Manager UK and Europe, John Gillan, said: “Since launching in the UK in 2019, we have been leading a revolution in how consumers shop and pay, helping shoppers spread the cost of their purchases and free themselves from paying interest.”
“However, we also know that having Laybuy as a payment option can help merchants increase their sales because it allows consumers to spread their payments and fit more into their budget. We are excited that those on our new platform can now enjoy the benefits of Laybuy.”
Launched in 2017, Laybuy is a rapidly growing fintech company providing buy now, pay later services partnering with over 10,000 retail merchants. Laybuy is available in New Zealand, Australia, the UK and the USA.