LayUp has developed a plugin for e-commerce platform Magento 2, that will increase your online sales and convert up to 60% more customers today.
About layup
LayUp is an alternative payment platform that increases sales and basket size by enabling your customers to lay-by/layaway items with interest-free instalment plans. With LayUp’s Magento 2 plugin, you can allow buyers to pay in instalments for products or services that suit your business needs.
LayUp has developed an automated payment plan solution that integrates seamlessly with Magento e-commerce websites. Located at checkout, the plugin offers an alternative payment option for goods and services by making monthly or weekly interest-free instalments that suit your business needs.
Quick and easy to install, this plugin lets business owners offer digitised lay-by solution in a matter of minutes. With no setup costs or contracts, It’s a win-win for both you and your customer.
Click here to book a live demo with our team.
The steps
Step 1 – Add “Pay with LayUp” to your checkout.
Step 2 – Set the store deposit amount and duration of the payment plan.
Step 3 – Let your customers split the cost for group purchases.
Step 4 – Secure recurring payments, settled for you by LayUp.
The advantages
- Increased conversions – LayUp converts browsers into shoppers with an interest-free payment solution online.
- Increased basket size & repeat purchase rates – LayUp customers spend 25% more per transaction over their lifetime, & they return to your site more often to LayUp their purchase.
- Decreased drop-off rate at Checkout – LayUp reduces drop-off & puts your items within reach of more customers who previously wouldn’t have been able to transact with you.
- Improved lay-by completion rates by 60% – using LayUp automated recurring payment technology.
- Gamification tools – LayUp gives you the cutting edge over competitors by providing a gamification tool that incentivises your customers along the payment plan, leading to successful payment completion rates.
- Reduce administration costs – LayUp handles the end to end communication with customers payment plan.
- Improve customer experience – LayUp improves the customer experience through a digitised, easy to use system.
How it works for the merchant
- Implementing LayUp’s Magento 2 plugin to your e-commerce site allows for users to checkout using LayUp, an alternative payment solution.
- Orders are then put into a partial state on the Magento system to indicate that it is being paid off over a certain period of time.
- LayUp allows customers to pay through card or EFT at no additional cost to the merchant.
- LayUp’s technology automatically collects weekly and monthly instalments, and will check in with customers to help them reach their payment goals.
- Orders are updated daily with the payments that have been made via LayUp for the order.
- LayUp allows merchants to update their account details at their own discretion.
- Merchants can authenticate themselves by entering their API (application programming interface) Keys. API Keys are available via merchant support.
- Should a merchant decide to remove the LayUp plugin, the software automatically reverts all the changes made to the system back to its original state.
Key features for merchants
- Create your own instalment plans to offer lay-by/layaway for your customers
- Add payment plan widget example in product & cart pages
- Customers can view their LayUp purchases in the account section or their personalised LayUp Dashboard
- Live and Sandbox environment support.
- Capturing and refunds handled and processed by layUp.
- Support for payment authorisations, capture and refunds.
- LayUp widget support.
- Industry-leading data security and PCI-compliant payments.
- Quick pay and easy instalments.
- Log tracking for debugging purposes.
Accounts and pricing
You must create a LayUp account before you will be able to accept LayBy/Layaway payments with LayUp. To sign up, click here . Although the extension is free to install, LayUp does charge a per transaction fee per payment plan created of 5% (ex. VAT). This includes all online processing fees. Please email [email protected] or call +2784 094 5555 to get onboarded as a merchant.
