Put It On Lay-buy is a gateway servicing the online Layaway consumer market.
The extension integrates into a MAGENTO store's admin and has reporting for all lay-buy orders
OverviewBack to top
LAY-BUY is the online payment method servicing the layaway consumer market. A layaway is a payment method that provides the consumer a payment plan but where the merchant only delivers the goods, after receiving all the payments. Layaway is the brand in USA, and layby in Australia. These are multi-billion dollar consumer markets, but only serviced by the larger national retailers. We have therefore developed this extension for MAGENTO to make layaway a reality for all MAGENTO merchants, and consumers shopping in their stores.
Accounts & Pricing
A separate lay-buys account and PayPal business account are required. To sign-up, go to our website, www.lay-buys.com. Although the extension is free for Magento merchants, the service is not. Customers have to pay a small 1.9% admin fee, payable to lay-buys.
- Merchants increase sales
- Merchants improve cash flow - merchants receive all payments and only deliver goods after the final payment
- All payments are automated
- A Minimum order value can be setup
- Allowed product categories can be setup
- Allowed Customer Groups can be setup
- Excluded products can be setup
Put It On Lay-buy is an extension that plugs into a MAGENTO store's admin and provides MAGENTO merchants the capability to offer their products via a Layaway payment plan option. Consumer shoppers are then provided this payment choice for them to buy affordably online via a MAGENTO run store. This helps increase sales for the MAGENTO merchants and helps consumers afford what they need when shopping online.
If you are a store selling into future dated events, then you need to consider offering lay-buy to your customers. Big sales events include Xmas Layby in Australia and the Layaway holiday season in US.
If you have customers that either currently are a layaway shopper or if you believe your customers may benefit from an affordable payment option, then you should consider lay-buy.
MAGENTO merchants will increase their sales after activation, where they will effectively then be selling into the multi billion dollar layby and layaway consumer markets. Cash flow will also be improved, where merchants receive all payments as they are paid by the consumer.
All payments are automatically paid from buyer to seller from the down-payment to each and every installment payment. Currently there are MAGENTO stores offering Lay-Buy in their checkout, and experiencing an increase in sales, and an improved cash-flow position - where all payments are paid directly to the merchant, and they only deliver the goods after they receive the final payment.
All payments for lay-buy orders are processed by PayPal.
This ensures a secure environment is in place for all MAGENTO merchants for processing of all their lay-buy order's payments.
There is no additional fee for MAGENTO merchants from PayPal or lay-buys. MAGENTO merchants simply pay their normal transactional PayPal fee.
Lay-Buys does not store any customer financial data, because PayPal processes all lay-buy payments, they are the entity that stores the customers financial data. Lay-Buys only stores transaction amount, order ID, and status from PayPal. Lay-Buys uses tokenization in all API communications between PayPal and Magento. The transaction details and recurring profile details are sent and saved in Lay-Buy tables on the Magento server. Lay-Buys do not require PCI compliance certification, where PayPal are the payment processor.
Release NotesBack to top
- Compatible with CE: 1.5 1.6 1.6.1 188.8.131.52 1.7 1.8 1.8.1 1.9 1.9.1 1.9.2 1.9.3
- Stability: Stable Build
This is a resubmission of our extension after taking down from the connect marketplace, and making some key changes.