WHSmith to offer 'buy now, pay later' payment option via Laybuy

WHSmith has partnered with Laybuy to bring ‘buy now, pay later’ option to its customers in the UK.

The ‘buy now, pay later’ payment platform Laybuy has features a product called Laybuy Boost, which allows clients to pay more up-front if their credit limit doesn’t cover the cost of the items they want.

For example, a customer may have a Laybuy credit limit of GBP 240 but wants to purchase something for GBP 300. Through Laybuy Boost, a customer can make a higher initial payment of GBP 60 and then pay off the balance of GBP 240, equal to their available Laybuy credit limit, over 5 instalments of GBP 48. This gives consumers additional flexibility but ensures they do not spend beyond their means.

Laybuy’s ‘buy now, pay later’ platform is a risk-free solution for retailers, who receive the payment up-front less a small commission when customers make a purchase. Laybuy takes all of the credit risk for the weekly payments

Moreover, the company never charges interest and partners with global credit bureau Experian to set responsible credit limits for each consumer.