@mal85Thanks for finding that.
I did another check-up on Laybuy, found some interesting things.
Did you know they're now in Australia & the UK? Obviously quite small but seem to be getting some traction in Australia.
Similarweb october:
And amazon alexa (more up to date) - that Australia proportion looks to have expanded.
Looking at that rank in Australia though and comparing to Afterpay which has a rank of 349 now puts Laybuy into context, not to mention google trends shows nothing for Laybuy compared to Afterpay in Australia.
I think even in New Zealand Laybuy will have a hard time keeping up with Afterpay, for a while they were moving up in unison with Laybuy getting a head-start but it looks like Afterpay is reaching a new level and leaving Laybuy behind in NZ. Alexa rank in NZ for Afterpay is also higher at 694 compared to Laybuy's NZ rank of 851.
10% of Australia's population is now on Afterpay, it looks like this will translate across to New Zealand giving us 500k customers there.
Laybuy doesn't have an app either, and Afterpay's overall app-rank in New Zealand has caught up with it's Australian equivalent rank in the iOS and Android apps stores.
iOS (green is NZ, blue is Australia):
Android:
One odd thing about Laybuy - they charge a $10 late fee after a payment is late for one day, then $10 after 7 days. So far, looks the same as Afterpay (although Afterpay is $10 and $7).
However, they do 6x payments, one every week for 6 weeks, including one up front. This means late fees can rack up to 5x ($10 + $10) = $100. With no late-fee capping, I'm surprised they didn't get pulled over in NZ by their corporate regulator. Assuming average purchase is the same as Afterpay's $150, the average order where a customer can't make any payments on time would reach 70% of its order value in late fees.
