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How the Buy Now Pay Later helps Consumers and Retailers?



The buy now pay later has dominated some of the major players in the payment industry. It has received a boost after being in this field for quite some time. The modern payment option can help both the consumers and the retailers with just a single click. Even the buy now pay later furniture has gotten its roots to credit cards and many of the financing schemes.

This model has helped the customers to purchase low cost furniture with some small starting amount with the rest of the amount to be paid later in a few installments with zero or lower rates of interest. The retailers are benefited incase of any default as it will be dealt by the BNPL provider.

Benefits to consumers

  • The buyers can purchase any item anti for it flexible terms that range around 3 months to some multiple years subject to the service provider.
  • By the help of buy now pay later furniture the customers can receive the item even before making the entire payment.
  • This has helped in improving customer experience and making the process frictionless.
  • The purchases made are usually free of interest and the sign up for this is way quicker than credit cards.
  • Many users of BNPL have stated clarity of conditions as a major point while making payments online. They can even monitor the spending online.

Benefits to retailers

  • It offers the retailers very high value of products by increasing their cart sizes and reaching new customers.
  • It helps them to gain revenue without offering any type of discount.
  • Retailers of businesses providing services and selling software can also be benefited who are vulnerable to costs.
  • Buy now pay later furniture helps to attract many customers who didn't want to buy furniture that are beyond their budget.
  • This has helped the buyers who are aware of this payment option available on every online shopping platform that has made the payment seamless with good customer reviews.
  • The retailers have seen the buyers coming again to repeat their purchases.
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