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Boosting Subscription Success with Buy Now, Pay Later Strategies

Boosting Subscription Success with Buy Now, Pay Later Strategies

The rise of Buy Now, Pay Later (BNPL) payment options is reshaping the landscape for subscription merchants, particularly among millennials who are increasingly favoring flexible payment solutions. A recent report from PYMNTS Intelligence highlights the significant impact of BNPL on revenue growth and customer loyalty. With 39% of millennials using BNPL in the past year, merchants can capture a larger market share by integrating this payment method into their offerings. The financial benefits are clear, as BNPL users tend to spend more, with an average increase of $150 during peak shopping days like Black Friday. Furthermore, subscribers who rely on BNPL are more likely to remain loyal, as 30% of subscribers contribute to 79% of total revenue. By adopting data-driven strategies and seamless onboarding processes, subscription businesses can enhance customer experiences and reduce churn. Ultimately, incorporating BNPL is not just a trend but a strategic necessity for merchants aiming for sustainable growth.

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