APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Retail
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • Retail
    • Laybuy
    Previous
    Next

    Laybuy: The Smart Way to Pay

    CIO VendorGary Rohloff, Founder & MD
    Franklin D. Roosevelt once said—“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” Having said this, it’s time to mention a moment of joy that filled the organisation of one of the clients of Laybuy. The reason behind this joy was a sense of achievement that the organisation had accomplished—an average order value uplift of forty percent. Their basket size has increased ever since they have bought Laybuy on board. Today, the firm offers online shopping across different brands, and Laybuy does forty-six percent of their sales. In the brief time since its inception in May 2017, Laybuy now holds the dominant position throughout the New Zealand market as the largest omnichannel ‘Buy Now, Pay Later’ platform with over 1200+ online and physical stores and more than 100,000+ consumers using Laybuy.

    Through its research, the firm observed that consumers often waver in their decision to buy the products they want as they cannot afford the total purchase price of the items in their cart. In years gone by retailers offered customers an in store layby or layaway service to assist their customers but this was not available to online shoppers.

    The traditional layby (or layaway model) has been an issue for Merchants for many years. Under the traditional model the retailer has to store the products and has to administer the payments from each consumer until the product is paid off.

    We get more than 1.4 million site visits a month, that's generating new customers for our retailers as an increased basket size


    So, to cater to this very fundamental challenge for the consumer and the retailer, Laybuy has built a platform that is very easy for the consumer to sign up and provides them with a weekly payment option.

    The consumer buys the product and pays Laybuy one-sixth of the total purchase cost on day one. The remainder is paid off in 5 weekly instalments – interest free. “More and more consumers are seeing Laybuy as the smart way to pay because its interest free,” says Gary Rohloff, Founder and MD, of Laybuy. Laybuy pays the merchant overnight the full transaction value less a Laybuy commission fee.

    “To use a simple example, consider a customer who wants to buy a pair of pants that are retailing at (say) one hundred twenty dollars. When they pay by Laybuy it's a twenty dollar purchase on day one and $20 every week for the next 5 weeks. That’s what drives the value for the consumer and the retailer.”

    Laybuy assumes all the credit and fraud risk on every transaction and pays every merchant within 48 hours of the purchase. Laybuy has enabled merchants to increase sales and grow their basket size. “We get more than 1.4 million site visits a month, that's generating new customers for our retailers and increased conversion rates too.” says Rohloff.

    Having received many complimentary emails from consumers and merchants alike, Rohloff is particularly proud of an email that a mother had sent to Laybuy. The message read, “This is the first time that I have been able to buy my children raincoats at the start of the season and not have to wait till they go on sale to afford them.” The success that the firm has achieved in their short operational term sees them plan to offer their product to Australia by the end of March.

    Laybuy’s development team is continually reviewing customer feedback so that they can tweak the offer and make it simpler.
    Previous
    Next
    Share this Article:
    Tweet
    Share

    Laybuy Info

    Company
    Laybuy

    Headquarters
    .

    Management
    Gary Rohloff, Founder & MD

    Description
    Provides innovative and fully integrated payment platform to spread the cost over time, interest free

    2018

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    CIO Speaks

    Previous Next
    It all Comes Together in Retail.  In a World of Possibilities, Where to Start?

    Simon Kennedy, CIO, The Warehouse Group

    End to End Supply Chain Planning is the Need of the Hour

    Abel Correa, CIO, Arvind Lifestyle Brands Limited

    Expectations of a CIO Today are Embryonic

    Ashok Sethi, CIO, Sapient

    Is Your Head in the Sand?

    Marc Kermisch, VP & CIO, Red Wing Shoe

    The Right Technology And Reliable Partners; The Business Next Frontier

    Luke O'Brien, CIO, ISS Facility Services Australia & New Zealand

    Service Organisations Make Great Places To Work, And Deliver Better Value

    Matthew Perry, CIO, Orora Limited [ASX: ORA]

    How Have Recent Advancements in Big Data Been Impacting Businesses?

    Marc Solomon, CIO, Bvn Architecture

    BI & Analytics in Aquaculture

    Matthew Leary, CIO, Tassal Operations

    BI and Analytics

    Gary Peel, CIO, SYNERGY (ASX:IS3)

    A Blend of Six Technologies to Enhance Teaching-Learning Processes

    John Hui, CIO, The Education University of Hong Kong

    Creating Integrated Workflows for an Evolving Company

    Mike Everly, CIO, D&H Distributing

    Modern Software Development Methodologies

    Kevin Glynn, VP and CIO, DSC Logistics

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://retail.apacciooutlook.com/vendor/laybuy-the-smart-way-to-pay-cid-2857-mid-144.html