News and resources on payments systems, innovations and initiatives worldwide.

EML and Laybuy launch 0% interest buy now, pay later loans

Source: EML

EML PAYMENTS LIMITED’s (ASX: EML) (‘EML’) agreement with Laybuy for a digital card exclusively issued by EML allows for rapid access to retailers in-store and online across Australia with plans for the UK through an impressive mobile-ready Buy Now Pay Later payments model.

Purchases can be paid off in 6 easy instalments with 0% interest or fees (unless payments are late) as the costs are passed onto the merchant.

''More than ever in today's global economy, consumers need speedy access to simple and transparent digital payment solutions that support the option to buy now or pay later. As we embark on Project Accelerator and working with disruptive fintech companies who are disrupting traditional industries, Laybuy is a great example of doing just that. Our team looks forward to working with Laybuy in multiple countries with a smartphone-enabled, innovative offering,'' stated Tom Cregan, EML’s Managing Director & Group CEO.

''We’re excited to be partnering with EML to provide Laybuy customers with an innovative new digital card issued by EML. This partnership will deliver real benefits to both retailers and consumers by providing another payment option to enhance and streamline the purchasing experience. At Laybuy, we are committed to making it as easy as possible for both retailers to sell their goods and for consumers to buy them. Laybuy customers can buy the goods that they want and need in store or online and spread the payments over six weeks to help them manage their cash flow. An added benefit is that our customers never pay interest, ever,'' said Gary Rohloff, Co-Founder & Managing Director at Laybuy.

Aligned to EML's Acceleration Strategy, this partnership, launching in Q2 FY21, also provides mission-critical infrastructure to the FinTech industry such as EML Issuing, Processing, EML ControlPay (real-time transaction decision making) and the Pays (issuing, storing and usage of tokenised cards for payments).

Comments: (0)