Laybuy Australia: What Actually Happened (2026 Update)

August 20, 2026 4 Min Read

Search for Laybuy Australia and most guides still describe it like a normal, active buy now pay later service. That’s out of date. Laybuy’s Australian business fell apart in 2024. Most of what’s written about it online was never updated. Here’s what actually happened. Plus what it means if you had an account, and which services to use instead.

For a closer look at a related topic, see our guide to illion Credit Report: What Happened and Where to Check It Now.

Quick Answer: Laybuy Australia

Laybuy is no longer working in Australia. Its Australian and New Zealand arms went into receivership in June 2024. This happened after the company couldn’t find new funding or a buyer. The New Zealand parent company later moved into full liquidation in September 2025. If you had an account, you could still make repayments on your balance. But you couldn’t make new purchases or sign up. If you want a working buy now pay later option today, Afterpay, Zip, Klarna, and PayPal Pay in 4 are the main active choices in Australia.

What Actually Happened to Laybuy

Laybuy’s Australian and New Zealand arms went into receivership in June 2024. Deloitte Australia took over the Australian side. Deloitte New Zealand took over the New Zealand side.
The company tried other options first. Directors looked for new funding or a buyer before asking for receivership. But neither one came together in time.
Several problems combined to cause the collapse. Company officials pointed to a longer economic downturn than expected, less consumer spending, rising credit losses, more fraud, and higher costs. All of this hit at once.
One official called it “a perfect storm that was difficult to recover from.” That phrase captures how many separate pressures landed together, rather than any single cause.
The UK business wasn’t hit by the receivership. Only the Australian and New Zealand parts went down. Other parts of the group kept running.

Where Things Stand Now, in 2026

Laybuy Holdings Limited moved from receivership into full liquidation in September 2025. Grant Thornton New Zealand now runs that process.
Laybuy Group Holdings Limited is still in receivership and liquidation. So both parts of the Australian business are winding down, not running.
Once the app shut down in July 2024, no new purchases were possible. Existing customers could still repay what they owed. But new sign-ups and purchases stopped completely.
This means Laybuy simply isn’t a usable option for Australian shoppers today. Any guide telling you otherwise is describing the service as it was before 2024, not as it is now.

What This Means If You Had an Account

You could still make repayments on an existing balance. The receivership didn’t wipe out what you owed. So ongoing payments on any active balance kept going as normal.
New purchases and sign-ups stopped being possible. If you’re trying to use Laybuy for a new purchase today, that option no longer exists.
Refund access was still being worked out during the receivership process. If you’re chasing a refund from before the collapse, contact the receivers directly. General customer support may no longer be active.
Missed payments before the collapse could still affect your credit file. Laybuy ran credit checks through Experian. So any records from before the receivership remain part of your credit history.

What to Use Instead

Afterpay remains the most widely used option for anyone who used to shop with Laybuy Australia. It covers purchases roughly between $35 and $1,500, with no fee to set up an account.
Zip Pay and Zip Money offer more flexible limits. Zip Pay covers up to $1,000 with a small monthly fee after an initial period. Zip Money stretches to $1,000-$5,000, with interest kicking in after a 3-month interest-free window.
Klarna works with a huge range of retailers. It partners with more than 200,000 stores, covering purchases from about $35 to $1,000.
PayPal Pay in 4 stands out for having no fees at all. It covers $30-$2,000 purchases, and charges no late fees, unlike most of its rivals.
BNPL is now regulated like other consumer credit. Since June 2025, Australian law treats buy now pay later as a low-cost credit contract. So providers must run real credit and affordability checks before approving you, much like a normal loan.

FAQ: Laybuy Australia

Is Laybuy still available in Australia?
No. Laybuy’s Australian arm went into receivership in June 2024. Its parent company then moved into liquidation in September 2025. You can’t sign up or make new purchases anymore.

What happened to Laybuy?
The company pointed to a longer economic downturn than expected, falling consumer spending, rising credit losses, more fraud, and higher costs. Together, these made the business too hard to keep running.

Can I still use my old Laybuy account to make repayments?
Existing customers could keep repaying what they owed after the receivership. But no new purchases or sign-ups were possible once the app shut down in July 2024.

What are the best Laybuy alternatives in Australia now?
Afterpay, Zip, Klarna, and PayPal Pay in 4 are the main active buy now pay later services running in Australia in 2026. Each has different fees and purchase limits.

Is buy now pay later regulated in Australia?
Yes. Since June 2025, BNPL providers count as low-cost credit contracts. That means they must run credit and affordability checks before approving a new customer.