High Intensity Timely Training: Get Afterpay and Laybuy for Christmas
Buy now, pay later solutions Afterpay and Laybuy have always been popular, but the ongoing financial stress Covid has put on consumers means they’re now essential for most businesses. There’s no bad news though; by using Afterpay and Laybuy you’ll gain new and loyal clients, increase your revenue, and ease the cost of Christmas on your clients.
Welcome to our HITT class series; short and sharp 15-minute intense training sessions designed to get you Timely fit. Each week we’ll be releasing a blog and Alex and Lu will be hosting a Facebook LIVE class on a Monday (9am UKT / 6pm AEST / 8pm NZT) focusing on a different topic each week. Make sure you Follow us on Facebook to stay in the loop with what’s coming up. So what are we waiting for? Let’s do this!
How buy now, pay later works
Buy now, pay later services work by spreading out your client’s payment into equal instalments, over a number of weeks. You get paid the full amount straight away, and the client gets to pay for their products and services over time. You’ll see the money in your account like you normally would when a client is paying for their appointment, but Afterpay and Laybuy will manage the payments at their end, so it’s risk-free revenue for you!
Both Afterpay and Laybuy are fully integrated into Timely, which means you can use them on any device that you use Timely on, like your computer, tablet, iPhone or Android phone!
Why you need to set up Afterpay and Laybuy
Despite the tough year everyone has had, Christmas is on its way! Lots of your clients will still be wanting to make it a lovely time; they just might need a more budget-friendly way to pay to ease the cost of December. By offering your clients buy now, pay later options like Afterpay and Laybuy, you’re showing your clients that you care, and they’ll love you even more for it!
Not only that; it’s also great for your bottom line this Christmas, helping to increase transaction amounts and boost your overall sales. Buy now, pay later sales with Timely are on average 74% larger than regular transactions because clients are more likely to get the extra add-on services and products you recommend if they don’t have to pay a lump sum up front.
Tip: If you’re in New Zealand or Australia, it’s good to offer both Afterpay and Laybuy because of clients’ different payment schedules. Some people get paid weekly and some get paid fortnightly (or monthly), so they’re likely to prefer the option that matches their pay cycle!
All about Afterpay
Available in Australia and New Zealand
Afterpay is easily the most recognisable ‘pay later’ service across Australia and New Zealand; in the same way that people say ‘Google it’, they also say ‘Afterpay it’!
Your client needs to sign up to Afterpay (if they haven’t already); they can even sign up while they’re with you because Afterpay offers instant approval. When the sale goes through, you get paid the full amount up front and instantly, and the client then pays the amount owing in 4 equal installments, every 2 weeks.
When the client pays on time, they have nothing extra to pay, no additional fees, and no interest. The great news is that if there’s ever any payment issues, Afterpay takes on the risk – not you. When you sign up with Afterpay, you’re also advertised on the Afterpay directory where many shoppers look to find businesses that offer their payment option, which is a great way to get new clients and grow your business.
Tip: Make sure it’s super clear to your clients that you offer Afterpay before they come and see you! Posting about it weekly on your social media is a great way to encourage your clients to use it.
The downlow on Laybuy
Available in Australia, New Zealand and the United Kingdom
Laybuy is one of the most globally used buy now, pay later services with availability in the United Kingdom, Australia, and New Zealand. Laybuy can also be used on a large amount of products, treatments and services (including tattoos), which makes it a great option for a wide range of businesses.
Your client needs to sign up to Laybuy and once they’re approved, you can raise the sale! The client will pick the payment day and make the first payment; don’t worry, you’ll get paid the full amount straight away while the client pays for their service and products weekly over 6 weeks.
There’s no risk for you, Laybuy takes on all the credit and fraud risk for every transaction. As a Laybuy merchant you’ll also be advertised on their shop directory and you’ll have access to the many integrations they have, like Shopify!
How to sign up
You can do it right now! Just a heads up, there is a bit of online paperwork involved, but once you’ve done it, it’s done for good and you’ll be set up and ready to roll before you know it!