A new competitor to popular ‘buy-now-pay-later’ service Afterpay is launching in Australia after having overtaken that company to become the market leader in New Zealand  Privately owned Laybuy, now New Zealand’s largest buy-now, pay-later service, has signed deals with more than 1,200 Australian retailers and has opened a new office in Sydney The crowded pay-later market – including Afterpay Touch, Zip Pay, Humm and Splitit – is capitalizing on the increasing demand for such credit services The launch comes as new figures show women are more than twice as likely as men to use such services, and millenials are the target market  Laybuy’s selling point for consumers is that it will split payments into six weekly installments instead of four fortnightly payments It will also allow for more expensive purchases with the Laybuy Boost plan.New Zealand retail veteran Gary Rohloff founded Laybuy in 2016 with his 23-year-old son, Alex It has become the dominant player in New Zealand with half a million customers.That is a selling point to attract local retailers, who will get those customers immediately, with the promise of many more as Laybuy plans to expand into the US and UK markets ‘We’re a company that has global ambitions, we’re certainly on a trajectory that’s pretty exciting ‘ Mr Rohloff said.  Laybuy also offers ‘Laybuy Global’, which lets merchants offer the buy-now, pay-later service to their international e-commerce customers Mr Rohloff said Laybuy was built from a retailers’ perspective, and will accept all credit, fraud and chargeback risk on any transaction – reducing retailer’s exposure to non-payers – while also absorbing foreign exchange fees on international purchases ‘We have seamless integration, we take on all the risk, we reduce the cost, but most of all for Aussie retailers is that we deliver over 500,000 Kiwi customers,’ he said The announcement comes after leading market research company Roy Morgan found women were twice as likely to use the services as men  The research found more than one-in-ten women, 11.6%, report using a buy-now-pay-later service in the past year compared to only 5 5% of men. Roy Morgan CEO Michele Levine said different services appeal to different genders  ‘In comparison more men are using banks’ own mobile payment systems (5.5% of men 4 1% of women) such as Commbank Tap & Pay and ANZ Mobile Pay and more men (9.6%) than women (6 1%) are using other contactless/cardless mobile payment services,’ she said.  In the 12 months from January 2018 to January 2019, 1 59 million Australians used a ‘buy-now-pay-later’ digital payment method with the greatest concentration coming from millennials  Millennials account for almost half of all buy-now-pay-later users (40.6 per cent) ‘Currently only 7.7% of the population use ‘buy-now-pay-later’ systems but as this has developed over a relatively short time period it leaves a great deal of growth potential among all generations,’ the study stated