The article discusses the evolving landscape of Buy Now Pay Later (BNPL) solutions in the retail sector, highlighting their growing importance amid economic challenges. Despite a significant number of retailers not offering BNPL, the option has been shown to increase conversions by making purchases more affordable for consumers. The concept of BNPL is not new, but its resurgence in the digital age has been fueled by the pandemic and rising living costs. Research indicates that a substantial portion of consumers prefers BNPL over traditional credit options, with many retailers reporting increased turnover since adopting it. However, regulatory scrutiny and concerns about brand loyalty to BNPL providers may deter some merchants from integrating these solutions. The article suggests that merchants can benefit from using BNPL aggregators, which offer a variety of financing options, enabling them to enhance customer choice at checkout and potentially boost conversion rates without the need for multiple partnerships.
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