Kiwi buy-now-pay-later (BNPL) platform, Laybuy has partnered with Mastercard to enable its customers to pay using their Laybuy account at any in-store retailer accepting Mastercard contactless technology.
Laybuy is the first Australasian partner to enter the Mastercard Fintech Express program that allows the BNPL provider to utilise Mastercard’s technology to issue digital debit cards, improving the in-store experience with faster and more seamless transactions for Laybuy merchants.
The digital debit Mastercard will integrate with the Laybuy app and offer integrated payment support for most mobile devices including iOS and Android.
Mastercard Australasia division president, Rich Wormald said, “Laybuy is a great example of a high growth fintech platform meeting market needs by offering a flexible, interest-free alternative payment option.”
Laybuy co-founder and managing director, Gary Rohloff added, “The partnership will help support Laybuy’s growth globally and is great for our merchants. For the first time, it enables our customers to pay using their Laybuy account at any retailer accepting Mastercard contactless technology.
“It is also beneficial for merchants as the contactless solution speeds up integration and in-store processing times.”