Klarna, the AI-powered global payments network and shopping assistant, has taken a significant step in the New Zealand market by acquiring the assets of Laybuy, a well-known local payments provider. The acquisition marks a new chapter for Laybuy, which ceased operations in June, as Klarna prepares to relaunch the service in the coming weeks.
David Sykes, Chief Commercial Officer at Klarna:
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.
Founded in 2017, Laybuy quickly became a household name in New Zealand, offering no-interest, flexible payment options to over half a million consumers across the country. With more than 10,000 merchants in its network, Laybuy was a pivotal player in the Buy Now, Pay Later (BNPL) sector in New Zealand.
Klarna, known for its seamless and sustainable commerce solutions, aims to elevate Laybuy’s offerings with its AI-powered payment and shopping solutions. With a global user base exceeding 85 million and 2.5 million daily transactions, Klarna is well-positioned to bring a new level of innovation and convenience to the New Zealand market. Supported by over 550,000 global retailers, including major brands like Uber, Airbnb, H&M, and Nike, Klarna's integration of Laybuy is expected to significantly enhance the consumer experience.
Starting today, Klarna will begin reaching out to Laybuy’s existing customers, informing them about the upcoming changes and what they can expect from the revamped service.
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