Buy now, pay later FinTech Laybuy is enabling in-person payments with a new card.
Laybuy’s virtual card can be loaded onto a smartphone through the Laybuy app.
It can then be used to make purchases at physical stores in the UK.
Customers then pay for items in six interest-free installments.
What does this mean?
Buy now, pay later solutions have soared in popularity throughout the pandemic, hand in hand with the rise in ecommerce purchases – but it remains to be seen what this will look like as physical retail is picking up again.
Laybuy’s solution not only means customers can use the app in-store, but it also plans to enable customers to use it in all stores (following its rollout among partnered merchants) - so it will essentially act like a credit card.