Higher conversion rates vs other payment methods
Increase in average order value on purchases
Customers adopt BNPL due to its better experience
Customers eligible for fast checkout experience
The demand and acceptance for BNPL is growing among customers,
merchants and issuers across categories.
Cardless buy now pay later is becoming your customer’s favourite payment method. It is witnessing exponential growth and has the potential to eat into the credit card share very soon. Here’s how offering BNPL can help banks stay ahead of the digital commerce curve.
There are many parts to a comprehensive BNPL program. Contextual credit discovery, product types, merchant and lender management, customers, statement generator, fees, interest, communication pipes, repayment and settlements logics are some of the many critical components of a full-service pay later program. Development, setting up, and testing can require up to many months before taking the product to the customers.
Create a pay later product type
Select or create a funding partner
Configure repayments and statements logic
Add and enable the payment plans
Upload your customer base with limits