Kiwi FinTech Laybuy has partnered with Mastercard.
In Brief:
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Laybuy is a buy now, pay later consumer credit service from New Zealand.
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Customers can now use their Laybuy account instore wherever Mastercard’s contactless tech is available.
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The firm will also issue a digital debit Mastercard, linked to the Laybuy app.
What does this mean?
This will make it even easier for shoppers to purchase an item and pay in instalments over six weeks. The company says the partnership will help its global growth and is also a positive move for merchants as it encourages spending, especially among technology driven millennials – however, consumers will be charged fees for late payments.
