Consumers are increasingly drawn to buy now, pay later (BNPL) and card-linked installment plans, leading to a surge in the popularity of these payment options. Merchants and acquirers recognize that offering pay later plans can significantly enhance sales and drive revenue growth. To stay competitive, merchants must understand the optimal points in the shopping journey to introduce these options, thereby aligning with consumer preferences. However, research from PYMNTS Intelligence reveals that only 30% of merchants accurately predict when consumers prefer to see these options during the checkout process. The latest infographic from PYMNTS Intelligence, in collaboration with Splitit, titled “How Offering Card-Linked Installment Plans Early Can Boost Sales,” sheds light on the pay later landscape. It details consumer preferences for encountering pay later options during their shopping experience and highlights the growing trend of using these plans for both high-value and everyday purchases. This insight is crucial for merchants aiming to leverage pay later plans to maximize their market advantage.
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