The popularity of pay later plans has been on the rise. Consumers are becoming more aware of options such as buy now, pay later (BNPL) and card-linked installment plans. Merchants and acquirers broadly agree that offering pay later plans can both boost sales and drive revenue growth. Merchants and acquirers that hope to stay competitive […]
The popularity of pay later plans has been on the rise. Consumers are becoming more aware of options such as buy now, pay later (BNPL) and card-linked installment plans. Merchants and acquirers broadly agree that offering pay later plans can both boost sales and drive revenue growth.
Merchants and acquirers that hope to stay competitive need to take note. Those that understand where these plans best fit into their customers’ shopping journeys will have a market advantage. However, PYMNTS Intelligence’s research finds that just 30% of merchants accurately anticipate consumers’ preferences about when in the checkout process the merchant should offer pay later options.
PYMNTS Intelligence’s latest infographic, “How Offering Card-Linked Installment Plans Early Can Boost Sales,” a collaboration with Splitit, provides a snapshot of the pay later space.
“How Offering Card-Linked Installment Plans Early Can Boost Sales” gives a birds-eye view into:
When in the shopping journey consumers prefer to learn about pay later options
Consumers’ preferences for using pay later options for both big-ticket purchases and regular purchases.
Understanding exactly what consumers want and need when it comes to pay later plans can drive revenue growth and consumer loyalty. This infographic is part of PYMNTS Intelligence’s Installment Plans series, a collaboration with Splitit.
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