If you sell in the UK, New Zealand or Australia, you can use Laybuy payment solution in your Ecwid store. Laybuy is a Buy Now, Pay Later provider that allows your customers to pay for their order in 6 weekly, interest-free instalments. While buyers pay off in instalments, you as a merchant are paid by Laybuy upfront and in full.
Laybuy supports New Zealand Dollars (NZD), Australian Dollars (AUD) and British Pound (GBP).
To connect Laybuy payment method to your Ecwid store, you should first register a merchant account in Laybuy and wait till it gets verified.
To enable Laybuy payment method in your Ecwid store:
- From your Ecwid admin, go to App market.
- Open the Laybuy app and click Install.
- Enter your Merchant ID and API Key. You can find both parameters in your Merchant account on Laybuy → Account → API Details.
- After you entered the Merchant ID and API Key in your Ecwid admin, click Advanced settings and untick Enable test mode to start accepting payments:
That’s it. Now you have the Laybuy payment method in your store, and your customers can decide to pay in full or with instalments.
To pay you with Laybuy, a shopper must have a verified customer account in Laybuy. A customer account can be created either by clicking Sign Up on the Laybuy site or by selecting the Laybuy payment method upon checkout and creating an account.
While browsing products in your store, customers will see a Laybuy label that will show the weekly amount of payments. The Laybuy label will be displayed both on the storefront and product details page:
The weekly amount of payment will change depending on shipping costs. So before a customer selects Laybuy payment method and clicks Go to Payment, they will see the final amount they have to pay. After they proceed to payment, they can schedule their payments.
Customers can pay you in six equal weekly instalments. The first instalment will be due and payable at the time a customer purchases the product. The second instalment will be one week after the date of purchase unless a customer chose a sooner date. Each instalment will be due and payable on the same day in the weeks following. For example, if a customer purchased a $240 product on a Friday, on the date of purchase they will pay $40 and on each Friday in the following five weeks they will be required to pay an instalment amount of $40. You as a merchant will be paid upfront and the full amount of the product price.
What are the transaction fees?
Laybuy merchant fees depend on the country and the business. Contact the Laybuy support team for your personal quote.
When do I get the money?
After a customer pays the first instalment, you'll receive full payment from Laybuy within 48 hours.