Sunday, 16 July 2017

Consumer NZ warns about new 'layby' options

Consumer New Zealand is warning shoppers they need to know their rights when using new payment options marketed as "layby".

Two buy now, pay later payment services have launched in New Zealand in the past three months: Laybuy.com and Part Pay. Trade Me's Afterpay will also be available in coming months.

The services offer shoppers the option of receiving goods immediately but paying them off in instalments, interest-free, over a number of weeks.

But Consumer New Zealand chief executive Sue Chetwin said calling the service layby was misleading and it would be taking the issue to the Commerce Commission.

from
http://www.stuff.co.nz/business/94667725/Consumer-NZ-warns-about-new-layby-options

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