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London | Britainâs financial regulator has set its sights on the burgeoning phalanx of buy now, pay later companies, drawing up plans to bring ASX-listed players such as Afterpay, Zip, Openpay and Laybuy into its supervisory net.
The British government on Tuesday said new laws would require buy now, pay later providers to conduct affordability checks before lending to customers, which may affect the productsâ key attributes of convenience and simplicity.
Klarna, which is backed by CBA, is one of Britainâs biggest BNPL players.Â
Analysts said the moves could slow down customer onboarding because more information is required to be gathered, while merchant sign-ups could also suffer, given they will need to be classified as âcredit brokersâ.
New Zealand’s Laybuy doubled its shopper numbers this Christmas
By Oliver Smith on Thursday 14 January 2021
Image source: Laybuy.
Over the past 12 months Laybuy has seen the number of shoppers using its service rise more than 117 per cent to over 687,000, the buy-now-pay-later (BNPL) group announced today.
Laybuy’s pay later service was used to buy a record NZ$182m worth of goods during the quarter ending 31 December, a figure up 187 per cent year-on-year.
“Laybuy experienced a highly successful trading quarter with exceptional GMV growth across all existing regions,” said Laybuy’s managing director Gary Rohloff.
The lender’s share price leapt over 13 per cent after the results were announced, pushing Laybuy’s valuation to over NZ$250m.
The 4 firms taking on Klarna in 2021
By Aisling Finn on Monday 21 December 2020
Image source: Laybuy founders Alex and Gary Rohloff.
Despite all the ups and downs, 2020 has been the year when fintech stepped up to the plate, and with that, we saw many different forms of fintech edge their way into the mainstream.
Digital banks and alternative lenders, namely Starling Bank and Funding Circle, have been some of the biggest lifelines to the nation’s SMEs as they try to navigate the Covid-19-related economic turbulence.
But, aside from the usual suspects, we’ve also seen other aspects of fintech come out of the woodwork and reach a bigger pool of people than ever before.
New Zealand buy-now, pay-later company to enter US market
21 Dec, 2020 04:30 AM
4 minutes to read
Just three months after listing on the Australian stock exchange Laybuy founder Gary Rohloff is eyeing another big leap for the Kiwi buy-now, pay-later company. Laybuy has begun beta-testing a launch into the United States market and by April is planning a full roll out across the States.
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The US retail market is worth US$5.5 trillion with e-commerce making up around US$730 billion of that.
Retailing stalwart Rohloff only began the business in 2017 after a conversation with family around his kitchen table about a safe and easy alternative to credit cards to buy a pair of jeans.