Laybuy allows consumers to spread the cost of purchases over six interest-free payments, with the first being made at the point of sale.
The partnership will see the option to pay by Laybuy made available to Footasylum customers on its online store, with the in-store payment option being launched in Footasylum’s 70 UK high street stores later this year.
Although the company has been successfully onboarding merchants in the UK online and in-store since October 2018, Footasylum is the first major retailer to appear on Laybuy’s books.
Upon completing an Experian credit check, subject to their score, Footasylum shoppers are allocated a spending limit of between £60 and £720. Purchases can then be made up to the value of that limit and should users wish to exceed that, the difference can be paid in cash.
Gary Rohloff, co-founder and managing director Laybuy, said: “We’re incredibly excited to be partnering with Footasylum to bring Laybuy to UK shoppers. The UK retail sector is experiencing unprecedented challenges as retailers attempt to navigate troubled waters. By providing retailers with a genuine alternative to discounts and promotions, Laybuy can not only help drive sales, but also significantly boost new customer acquisitions.”
Footasylum CEO, Clare Nesbitt, added: “Laybuy’s proposition represents a unique offering for our customer base. We believe that by providing customers with a means of paying for our products over time as part of their weekly budgeting, this partnership will be a positive step forward for us.
“Laybuy’s track record speaks for itself and we’re delighted to be the first major UK retailer to offer it as a payment option.”