5 Tips for a Successful Buy Now, Pay Later Checkout
Invoice and installment purchases are an absolute must for consumers. That's why retailers are increasingly turning to Buy Now, Pay Later (BNPL) online and on-site. We have compiled 5 factors for you to make your BNPL checkout a success.
1. Transparency
Show your customers that you offer invoice and installment purchases! And it's best to do this early on in the purchasing process. Particularly with high-priced products, the option to pay in installments can be a decisive factor in the purchase decision. Our tip: Place these payment options on the details page of your products. Show your customers even before they reach the shopping cart that they can conveniently pay for their order on account in two weeks, for example - or in small installments spread over a few months. Offering these payment methods quickly becomes a decisive competitive advantage.
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2. Flexibility
Leave it up to your customers to decide how many installments they want to pay in. Interest rates are particularly important for customers: This means that each customer can decide for themselves which installment amount at which interest rate suits their individual situation. This ensures that your customers are completely satisfied.
3. Trustworthy checkout process
Ensure that the entire payment process for customers comes from a single source. If your customers are redirected to a third-party provider at the crucial step, it can come across as dubious in the worst case scenario. That's why we offer you whitelabel solutions for invoice and installment purchases. You can visually tailor these to your brand so that they fit seamlessly into your checkout process. This way, you offer your customers a consistent and trustworthy buying experience.
4. Omnichannel
Invoice and installment purchases are no longer an online-only option. Many brick-and-mortar retailers also rely on the popular payment methods - especially in areas where customers appreciate on-site advice. Decathlon, for example, offers its customers the opportunity to make use of Pay Later offers when shopping on site. This is done simply by smartphone: the customer decides in the store to pay by direct debit or installment purchase. Efficient processes including a credit check within a few minutes make the on-site shopping experience particularly pleasant. Decathlon relies on our Pay Later POS solution for this.
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5. Credit check
Security in the purchasing process is particularly important for retailers and customers. That's why processes such as credit checks are essential. To ensure that this does not take up too much time, retailers should rely on solutions such as our real-time credit check. This is available both online and at the point of sale. Especially important for merchants: Unzer assumes the full risk.You would like to offer Pay Later offers in your checkout, but need support? Arrange a no-obligation initial consultation with our Pay Later experts or learn more in our free whitepaper.