Buy Now / Pay Later
Buy Now/Pay Later is a growing trend for consumers today and a key offering for any business or merchant.
Buy Now/Pay Later is a type of installment loan that divides a purchase into separate payments, allowing your customers to pay over time while you secure the benefit of this loan through optional interest or late fees.
During checkout, customers can elect to opt into a buy now pay later plan for their purchase, and new technology and point of sale processing technologies today can assist you in automatically formulating and executing buy now/pay later options.
Buy Now/Pay Later is a fantastic option for modern businesses to keep a consistent flow of purchases, particularly if your inventory includes traditionally more expensive items such as mattresses or laptops as it allows the consumer to spread the burden of the purchase across an extended period of time.
By granting your customer more agency and options in their transaction options, you are incentivizing more avenues for payments and therefore generating more lanes for payments into your business. Buy Now/Pay later is a considerably exciting option for modern businesses, and Data One has the expertise and the technology to assist you in integrating this service into your model.
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It’s a new day for payments.