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I think these are questions only you can answer. I think the two key things you need to look at are the following;

What is the drop rate for your shopping cart, and could you find out if people are leaving because you don’t accept credit cards directly. In our experience the difference is marginal, and as you can use credit cards with PayPal, the reason people use a bank system is more control over payments, and increased security.

The second is would a loyalty system actually increase sales, do you have enough product variety for people to keep coming back? Would a cross selling, or product recommendation system work better?

With the layby add on, you might have to look for an invoicing/billing system that allows for partially complete transactions. I know we looked into it for a client that wanted to do partial refunds, and it was a bit of a nightmare.

Remember if your shopping cart says $500, the user will have to select “lay by” as a payment option, and then the payment gateway will have to know to deduct $100 a month for 5 transactions (also increasing your transaction cost). Only after 5 transactions will the operation be complete.

I hope that answers some of your questions.