Laybuy review - rates, fees & features | Finder


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Customers can spread the cost of purchases over 6 weeks with Laybuy, interest-free.

Laybuy is an option for business owners looking to attract a larger customer base through a payment plan or customers opting to spread the cost of their shopping over a more manageable period of time. Laybuy is a 0% interest, buy now pay later solution. Like other buy now pay later services, Laybuy allows customers to receive their items right away, but pay for them over time. If you're a business owner, Laybuy could help you attract more customers and remove some of the obstacles in their journey from cart to checkout. Customers have the benefit of paying nothing for the service, as long as repayments are met on time.


Min Loan Amount

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Product NameLaybuy
Interest Rate TypeFixed
Min Loan Amount$120
Max. Loan Amount$1,200

How does Laybuy work?

Laybuy is a buy now pay later solution partnered with a variety of online and in-store retail outlets, ranging from vaping accessory stores to children's couture fashion. Laybuy is potentially beneficial for both customers and businesses, and works differently for each.

woman buying perfumes

Laybuy for customers

  • Customers can sign up to Laybuy either at the checkout of their favourite partnered retail stores or through Laybuy's website by creating an account. Laybuy is available in Australia, New Zealand and the UK.
  • Laybuy will perform a credit check on all applicants in order to deem their eligibility for credit. Once approved, customers can spread the cost of their purchases over six weekly instalments completely interest-free. There are no sign-up costs or hidden fees, as long as repayments are met on time.
  • Once approved, customers can pay via Laybuy online simply by selecting the option at checkout. Their items will be dispatched the same day.
  • In-store, customers can ask the cashier to pay by Laybuy and provide their phone number to the store. Customers will then receive an automatic text from Laybuy with a unique link to complete their purchase.
display at a jewelery store

Laybuy for businesses

  • Merchants can apply to partner with Laybuy via an enquiry form located on the website. Simply input your and your business's details and Laybuy will aim to contact you with a response within 48 hours.
  • Approved merchants will receive full payment for any purchases made through the Laybuy portal immediately, but must pay a purchase fee for every transaction made via Laybuy. These purchase fees will vary depending on the size, nature and annual sales of your business.

Features of Laybuy

Interest-freeLaybuy does not charge interest to customers. Customers who meet their repayments on time only pay for what they buy.
Quick approvalLaybuy offers quick approval after running a soft credit check on applicants.
Credit limitCustomers will be offered a credit limit which is determined based on their credit score. If your credit isn't excellent, you may still be eligible for Laybuy, but your credit limit will likely be lower than someone with a higher score.
Six weekly instalmentsCustomers pay for their purchases over a period of six weeks, with the first payment coming out at the time of purchase and the remaining cost spread evenly over five weekly payments.
Up to $1,200 purchasing powerLaybuy offers a minimum credit limit of $120 and a maximum limit of $1,200.
Regular limit reviewsLaybuy reviews its customer's credit limits every two to three months and emails customers directly if they're eligible for an increase.
In-store and onlineLaybuy is available both in-store and online via partnered retail outlets.
Automatic repaymentsCustomers sign up to Laybuy using a credit or debit card. Their nominated card will be charged accordingly each week without requiring action.
Transaction feeAs a merchant, offering your clients a comprehensive payment plan for your product could increase your sales.

How much does Laybuy cost?

  • No interest. Laybuy doesn't charge any interest on purchase credit.
  • No sign-up fees. There is no upfront fee for using Laybuy. However, customers will be required to pay an initial instalment towards the price of their purchase.
  • Late payment fee. Customers are charged a $10 fee for failing to meet a payment on time. They may also have their credit scores affected upon default.
  • Transaction fee. Merchants will be charged a transaction fee with every purchase that customers make using Laybuy.

What you should know

Customers can still opt to make purchases over their credit limit using Laybuy, they will just be required to pay the difference upfront. For example, if a customer's credit limit is $200, they can make a $400 purchase by paying $200 upfront and repaying the remaining $200 over 5 weekly repayments.

How to sign up for Laybuy

To sign up for Laybuy, simply click "Go to site" and provide your data.

woman buying handbag

To be approved for Laybuy as a customer, you will need:

  • To be aged 18 or over
  • To be an Australian, New Zealand or British resident
  • Your driver's licence number
  • Your full name
  • Your residential address
  • Your email address
  • Your phone number
  • A nominated credit or debit card number
expensive clothing boutique

To sign up for Laybuy as a merchant, you will need:

  • Your full name
  • Your business's ABN/ACN
  • Your business data, including annual sales and nature of business

If you think Laybuy could be the right buy now pay later solution for you or your business, signing up is quick and easy. However, it is always worth comparing buy now pay later options prior to submitting an application, to make sure that you make the best possible decision.

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