MEET TODAYʼS NEEDS
Boost your bottom line
BNPL methods mean frictionless commerce. And that means a better experience for your customers and better margins for you. In a recent survey:
- 25%
– Respondents said they would tolerate slightly higher prices for a simple check-out procedure or a “one-click” purchase ¹⁰
- 41%
– Respondents who said “fast and convenient checkout and payment options” would improve loyalty ¹¹
- 25%
– Installment payment users (BNPL) who have canceled their credit cards ¹²
THE PROCESS
How does it work?
Hereʼs a sample journey of a customer using BNPL technology.
STEP
Customer shops merchant site
STEP
At checkout, customers choose BNPL options
STEP
Customer creates account or logs into BNPL ecosystem
STEP
Plan options displayed and selected
STEP
Return to merchant website to complete checkout
¹⁰ https://www.prnewswire.com/news-releases/td-banks-annual-consumer-spending-index-reveals-credit-knowledge-gap-exists-among-millennials-300810766.html
¹¹ https://www.prnewswire.com/news-releases/td-banks-annual-consumer-spending-index-reveals-credit-knowledge-gap-exists-among-millennials-300810766.html
¹² PYMNTS.com Buy Now, Pay Later Tracker©, December 2019.