Ability to switch on Laybuy payments on for orders over a certain amount

12 votes

While I think Laybuy is a fantastic addition, I don't really want customers using it for small orders given the higher % costs for using LayBuy. Therefore, I suggest we have the ability to set a threshold where LayBuy then becomes an option.

For me, I would like to offer LayBuy on orders over £100. I think this would then help push the avg order spend up.

Not planned Integrations Payments Suggested by: Andy (22 Nov, '20) • Upvoted: 10 Mar, '21 • Comments: 1

Comments: 1

13 Jan, '21
Dauwalders of Salisbury
Given that the fees associate with having merchant account are set at about 4.75% of the total order Purchase Price

So if you set a higher purchase threshold you will be paying a higher fee - a £100 purchase = £4.75 in fees
Smaller orders have a small fee - a £10 purchase = £0.475p in fees

Setting a higher threshold would have no benefit on the fees and costs as it is set as a percentage of the total purchase order price

I agree the only benefit in setting a threshold would be to encourage higher sales thus increasing the avg spend this will not reducing overall fees/costs