New Zealand's Laybuy is listing in Australia on Monday at a time when the buy-now-pay-later sector is being propelled by an online shopping boom sparked by COVID-19, forging one of the hottest investor spaces during the pandemic.
The explosive growth hit a roadblock last week when PayPal Holdings announced its entry, causing a sector-wide sell-off in Australia and exposed the frailty of these high-priced companies, which are heralded as disruptors of traditional credit.
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