Laybuy has worked with parties interested in acquiring the business to find a way to continue offering customers a seamless payment experience.
Klarna Bank AB (‘Klarna’), the global AI-powered payment network and shopping service, has acquired the assets of Laybuy in New Zealand. As part of this acquisition, all customer contracts and accounts with Laybuy were assigned to Klarna on the 30th of July 2024.
Laybuy has been working with Klarna to finalise the remaining matters to enable the transfer of customer information between them, which will occur in the coming days. Laybuy was put into receivership on the 17th of June 2024.
Klarna has revitalised the Laybuy service. Customers who have yet to opt out will receive another notification as soon as they can begin using the payment service again.
As New Zealand's BNPL champion, Laybuy has served customers and merchants with its no-interest, flexible payment options since its launch in 2017. Over half a million consumers in New Zealand have opened a Laybuy account, enabling them to shop at Laybuy’s 10,000+ merchants.
“Laybuy established itself as a cherished brand in New Zealand and we're excited to build on those foundations to take Laybuy to new heights under the Klarna umbrella. We have some truly exciting plans and can’t wait to begin sharing them with consumers and merchants," said David Sykes, Chief Commercial Officer at Klarna.
When customers opt out, their Laybuy account will be deleted, and Klarna will delete all information relating to them that has been transferred to it. They will also receive a confirmation once this has been done and will not send any further communications about the Laybuy service (other than in relation to historical transactions).
Both Laybuy and Klarna are committed to protecting data. Their privacy policies are available online, and they have requested customer cooperation in this matter.
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