When customers are given time to pay when they buy products, they usually buy big. This is what you desire for your business. You may want to include buy now, pay later options in your business to make it easy for your customers. This is a financial service that allows customers to purchase products but pay at a later date. Over the previous years, this service has become popular and has grown significantly. They include Klarna, Afterpay, Openpay, Zippay, and Oxipay. But, why should you consider the buy now, pay later service in your business?
Table Of Contents
Here are some of the reasons why;
It increases sales
Some shoppers will only purchase some products if the buy now pay later option is offered to them. People will spend money on an item if it has a convenient payment method, hence help you in driving up your sales and orders.
It’s a new trend
Buy now, pay later is a great option for customers who don’t have access to sbi debit card emi eligibility check or don’t want to depend on it. Many are trying to avoid debt hence prefer a business with the buy now, pay later option. Many shoppers are ditching their credit cards for this new trend. Therefore, introducing pay later options to your business will thrive your business.
Customers will spend more money
People spend more money in the same store if the payment method is convenient. Buyers can acquire what they need by reducing debts and also benefit from a predictable budget. In turn, you will be able to add a few charges for some products; for example, you can add the charge of your product by one dollar. People will excitedly pay the higher price to eliminate the higher one-time costs. Hence, it’s a win-win situation.
Customer loyalty
Imagine a lady looking for the right earrings for an important occasion. Instead of seeing earrings, buying them, rejecting them, and have to send them back to get a refund, your store allows her to order as many as she likes, keeping in mind that she doesn’t have to pay for anything she doesn’t like. This builds a better relationship with their customers, and the customers will indeed be loyal to your business.
You have now reviewed the reasons why you want to introduce buy now, pay later service. Also, check your debit card EMI eligibility. With this card, the bank will be paying your charges when you are out of cash, after which you will pay the bank at a later date. It’s now time to set things up.
How to set up Buy Now, Pay Later service in your online store website
The Buy now, pay later market is growing fast. With many companies getting into the market providing pay-later options, you should make the right call.
Here are some of the options to choose from and set up;
PayPal
It’s interest-free and has no impact on your credit score. You can add up PayPal to your website by visiting the PayPal site and go to the section. After that download, the PayPal checkout extension, install it, and download the buy now, pay later. Once installed, activate by going to your settings and set your PayPal credit message settings.
Afterpay
This buy now, pay later service has an app, online shopping portal, and gives buyers deals at their partner stores. To set up, download the afterpay plugin, go to your dashboard to install and activate the plugin. Afterward, go to your dashboard, open settings, choose checkout, select afterpay and enter your details.
Affirm
Offers the same features as Afterpay, an app, shopping portal, and special deals with partner merchants. To set up, visit WooCommerce`s affirm page and buy the extension where you can use debit card EMI eligibility. The zip file you get, upload to the plugins section of your WordPress admin dashboard. After that, install the plugin and activate it.
Provide the pay later options to your customers and give them access to your products while eliminating financial strain.