Why installment payments are right for your eCommerce app?
Buy now, pay later (BNPL) is becoming more popular, thanks to the seismic shift the retail industry has experienced over the course of the COVID-19 pandemic. As a result of movement restrictions and lockdowns, changes in consumers’ financial circumstances, and new regulations retailers have to follow, customer behavior has changed. The impact is apparent in every aspect of consumer behavior — from what and how they buy to how they pay. For many retailers, customers have gone from a fairly predictable demographic to more of a moving target. BNPL is a magnet that you can use to attract customers to your e-commerce business. And since revenues have become more uncertain, retailers are looking for new and creative ways to attract customers. Let’s look at the advantages of offering this type of payment plan to your audience.