Global buy now, pay later (BNPL) giant Klarna has formally relaunched the Laybuy brand in New Zealand after it ceased operations last year.

Rebadged as Laybuy by Klara, users will be able to access the service via the Klarna app, with a range of new features, including purchase management, personalised insights, payment reminders, and smart budgeting tools.

Klarna said the relaunched Laybuy brand will now be “powered by its advanced fraud prevention systems, real-time affordability checks, and a robust infrastructure that ensures compliance with strict global regulatory standards”.

“With no hidden fees, Laybuy by Klarna gives users the flexibility they want, backed by the security and transparency they expect,” Klarna touted in its relaunch statement.

The Laybuy by Klarna service is backed by supporting infrastructure from cross-border payments provider Airwallex, which provides payments processing and merchant onboarding on behalf of Klarna.

As part of its relaunch in New Zealand, Laybuy has also been integrated into the Airwallex platform, enabling businesses to offer Laybuy as a payment option through Airwallex Checkout.

Laybuy entered into receivership in mid-2024, with the brand struggling to hit profitability since its launch in New Zealand in 2017. The brand was subsequently snapped up by Klarna that year.

Commenting at the time of the acquisition, Klarna chief commercial officer (CCO) David Sykes said the global BNPL was poised to take the “cherished” Laybuy brand “to new heights under the Klarna umbrella”.

At this time, Klarna noted that around half a million New Zealand consumers had opened a Laybuy account, with the service signing up more than 10,000 merchant partners.

Gary Rohloff, who cofounded Laybuy and served as its managing director before his appointment as Klarna’s head of Australia and New Zealand upon acquisition, said the re-launch of the brand, backed by a “global business with the scale and strength of Klarna, represents a milestone for the BNPL market in New Zealand”.

“Klarna’s cutting-edge technology and global reputation allow us to elevate Laybuy to a platform that meets the highest standards of security, flexibility, and reliability,” he added.

Sykes added that he was “very pleased” to have Rohloff onboard and again at the helm of Laybuy.

“He brings a unique understanding of the local market and BNPL space and is the perfect choice to steer the ship as we bring this trusted Kiwi brand back to life, powered by Klarna’s global scale and AI-driven technology.”

Klarna, which boasts more than 93 million active users and 675,000 retailers globally across 26 markets, said its platform would serve to “enhance Laybuy, making shopping smarter and safer for Kiwi consumers, while helping merchants grow”.