Holidays now available on a buy now, pay later app
Shoppers could use “buy now, pay later” when purchasing their next holiday.
Shoppers need to sign up to Laybuy and download the app, where they can search for brands within the shop directory on their smartphone or tablet.
They can then select the retailer they want to shop with. When the website loads up and they go to pay, their details will be automatically completed.
The buy now, pay later sector generally has come under scrutiny amid concerns that some people may end up spending more than they intend and struggle to make the repayments.
Citizens Advice has previously raised fears that, for many, such schemes can be a slippery slope into debt.
However, provided people can comfortably keep up with their repayments, firms may help them to avoid using more expensive borrowing options.
Consumer group Which? recently estimated that around a third (33%) of the UK adult population has used buy now, pay later schemes.
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The Government announced in February that interest-free buy now, pay later credit agreements will be regulated by the Financial Conduct Authority (FCA).
Gary Rohloff, Laybuy managing director and co-founder, said: “This is a real game-changer and means Laybuy will soon be available in the UK at more than 5,000 brands. Now people have the choice to shop using Laybuy at Amazon, Asos, eBay or even easyJet.”
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