1 minute read
Introduction
Sometimes when you’re shopping online, you find products you love but can’t afford at the moment because of a tight budget or being far from payday. However, as a merchant, you can address this issue by offering BNPL (Buy Now Pay Later) options This can lead to increased sales in the short term and help customers make purchases they might not otherwise be able to make
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Buy Now Pay Later (BNPL) is a payment option that allows customers to make a purchase and defer payment for a set period of time. This is typically done through a third-party provider that offers to finance the purchase Customers can complete the purchase at the time of checkout, but instead of paying the full amount upfront, they are given the option to pay over time in installments.
BNPL can be a flexible and convenient option for customers who may not have the funds to make a large purchase all at once or who prefer to spread out the cost of their purchase. It can also be beneficial for merchants who want to increase sales, attract new customers, and improve customer loyalty. However, it’s important to carefully evaluate the costs and risks associated with offering BNPL and ensure that it’s a good fit for your store and your customers.