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COMPUTER SAYS NO
‘Absolutely no use to me anymore’ slam fans as Buy Now, Pay Later lender removes huge retailers including M&S and Amazon
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SHOPPERS are furious after Buy Now Pay Later lender Laybuy suspended retailers like M&S, Amazon and eBay from its app.
Customers use the service to buy goods online and in shops, and then pay off their purchases in six weekly instalments.
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But over the past few weeks, popular retailers like Amazon, eBay, M&S, Homebase, B&Q and Etsy were removed from the app, causing a backlash from angry customers.
One said on review site Trustpilot this week: “I used to use Layby all the time to buy off Amazon on eBay [sic].
"Now they've removed these stores from their app, it's absolutely no use to me anymore.
“I have moved on to another app that I can use eBay and Amazon. It's a shame because I really like Laybuy, but all good things must come to an end your stores have no interest to me.”
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Another added: "I used to buy things from Amazon and eBay as you could spread the cost but they aren’t there anymore.
"Also last weekend Marks & Spencer were there and then disappeared too. Please please sort this out!"
A third said: “Really disappointed that I can’t use the stores I use.
“Can you let me know when this will be up and running? Really annoying.”
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There are two ways customers can pay with Laybuy.
One is directly with a retailer, where you shop as normal online and then select Laybuy as a payment option at the checkout.
Alternatively, customers can access certain brands through the app and when they go to the checkout Laybuy will fill in all the payment details.
The lender said it was currently working on technical issues with the second option, with brands that are exclusive to the app currently being unavailable.
It's not yet confirmed when the brands will become available again.
A spokesperson said: “We are very aware of the frustration it has caused our customers and are working hard to rectify the situation.
"I would like to reassure customers that any existing orders or repayments are unaffected.”
What is Buy Now, Pay Later?
UNLIKE traditional borrowing, such as credit cards, Buy Now Pay Later loans are interest-free.
But it does have risks, as many providers are unregulated, which means shoppers do not get the same level of protection as with other forms of credit.
Klarna, Clearpay and Laybuy are the main providers.
Klarna lets shoppers pay for items in full up to 30 days later, or split it into three interest-free instalments.
Clearpay customers can pay in four interest-free instalments over six weeks.
Meanwhile, Laybuy lets its customers spread the cost over six weekly payments.
In the meantime, rival Klarna is available at Homebase and Etsy's checkouts, but not at Amazon's or eBay's.
The service also offers customers a Klarna Card, which can be used where Visa is accepted, online and in-store.
Its users can also create a One Time Card in the app and use that online, so either card would work at Amazon, eBay and other mainstream retailers.
M&S is partnered with Clearpay, so the retailer appears on its app and Clearpay is on the M&S website at checkout.
Clearpay is also available to consumers shopping at Etsy, eBay and Amazon, via its app.
As a separate issue, Laybuy has also seen a rise in fraudulent activity affecting its customers, as some have reported their accounts being hacked by scammers and used to make phoney purchases.
This, they said, was likely to be connected with the launch of a website compiling leaked data from many previous high-profile data breaches.
Laybuy was not itself subject to a data breach or hack - but it’s understood that accounts were hacked when crooks got hold of passwords used across multiple websites.
Customers' passwords were then reset as a precaution.
The increase in fraudulent transactions and the preventive measures such as resetting passwords had led to an unprecedented surge in customers contacting customer service teams, it said.
This means the company has been taking longer than usual to respond to customer queries.
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“We are now responding to customers within 24 hours,” the spokesperson said.
Earlier this year, The Sun revealed a huge change to Buy Now, Pay Later was set to be delayed again.