Buy now, pay later (BNPL) is on the rise. BNPL is an alternative payment method that allows shoppers to break up the total cost of a purchase into affordable installments, spread out over time. Here are six reasons why your store should start offering BNPL: 1. YOUR CUSTOMERS ARE LOOKING FOR BNPL OPTIONS. More consumers are now taking advantage of pay-over-time options when they are available. In 2023, online merchants saw a significant increase in purchases made with BNPL, with volume up 42.5% year-over-year. 2. BNPL IS A GROWING MARKET. An estimated 93.3 million consumers are expected to use BNPL in 2024. American Banker reported that the BNPL market in the US could reach as much as $8.3 billion by 2028. 3. YOU DON’T WANT TO BE LEFT OUT. BNPL is being adopted more and more by online retail giants, like Amazon.com — further accelerating its growth and making the option far more familiar to consumers that shop online. 4. IT DOESN’T HAVE TO BE COMPLICATED. Adding yet another payment type to the back end of your website doesn’t need to be daunting. There are options to help simplify the process. For example, merchants can add BNPL options to their existing checkout experience using pre-built ecommerce integrations, like the Affirm Payments extension for WooCommerce. 5. STREAMLINE YOUR CHECKOUT EXPERIENCE. Using a BNPL integration streamlines the purchase process for the growing number of customers who prefer to pay over time. Keeping consumers on your site and moving towards checkout is important. A seamless checkout experience can also help reduce cart abandonment. 6. GET IT WHILE IT’S HOT. With summer often a slower time for businesses, there’s an opening for merchants to get BNPL up and running on their site, before the Back to School rush floods in (and then it’s Black Friday before you know it.) For more reasons to offer BNPL sooner than later, read this blog post by our friends at Affirm: https://lnkd.in/gGK_crkz
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Very smart fellows solving a significant issue with an elegant solution.
Nearly 7 out of 10 online shopping carts 🛒 get abandoned at checkout, resulting in a hefty $250+ billion of unsold merchandize value 😱 About 10% of this volume is due to inadequate payment methods. Issues like insufficient balance on a single card, distrusting the merchants with one's credit card info, and complicated checkout processes cause nearly half of all cart abandonments. #HustlePay tackles these issues by providing buyers with liquidity from multiple payment sources, minimizing credit card exposure, and simplifying checkout while making combined payments a breeze. Good for buyers, good for online sellers! #OwnYourCheckout https://lnkd.in/gmKA3bey
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Nearly 7 out of 10 online shopping carts 🛒 get abandoned at checkout, resulting in a hefty $250+ billion of unsold merchandize value 😱 About 10% of this volume is due to inadequate payment methods. Issues like insufficient balance on a single card, distrusting the merchants with one's credit card info, and complicated checkout processes cause nearly half of all cart abandonments. #HustlePay tackles these issues by providing buyers with liquidity from multiple payment sources, minimizing credit card exposure, and simplifying checkout while making combined payments a breeze. Good for buyers, good for online sellers! #OwnYourCheckout https://lnkd.in/gmKA3bey
40+ Essential Shopping Cart Abandonment Statistics by #Tidio
tidio.com
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Founder, Advisor | Data Center Infrastructure I and DevOps | Agile Project Management | PMO & Process Orchestration
It really 'takes two to checkout'. A detailed dive into why 7 out of 10 online shopping carts are abandoned. We built #HustlePay to benefit both e-commerce platforms and buyers. #OwnYourCheckout
Nearly 7 out of 10 online shopping carts 🛒 get abandoned at checkout, resulting in a hefty $250+ billion of unsold merchandize value 😱 About 10% of this volume is due to inadequate payment methods. Issues like insufficient balance on a single card, distrusting the merchants with one's credit card info, and complicated checkout processes cause nearly half of all cart abandonments. #HustlePay tackles these issues by providing buyers with liquidity from multiple payment sources, minimizing credit card exposure, and simplifying checkout while making combined payments a breeze. Good for buyers, good for online sellers! #OwnYourCheckout https://lnkd.in/gmKA3bey
40+ Essential Shopping Cart Abandonment Statistics by #Tidio
tidio.com
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🛒 Introducing Shop Pay! Have you heard of this new feature? Shop Pay is a payment solution designed to streamline the checkout process for Shopify merchants and their customers. Find out how it works along with its similarities and differences from Afterpay. Check out the details at: @Do_Dropshipping
What Is Shop Pay & How Does It Work? (Is It Like Afterpay?)
https://dodropshipping.com
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🛒 Introducing Shop Pay! Have you heard of this new feature? Shop Pay is a payment solution designed to streamline the checkout process for Shopify merchants and their customers. Find out how it works along with its similarities and differences from Afterpay. Check out the details at: @Do_Dropshipping
What Is Shop Pay & How Does It Work? (Is It Like Afterpay?)
https://dodropshipping.com
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5 Tips To Optimize Your E-commerce Checkout Process for Conversion🚀 🚀 1. Reduce the number of steps required to make the purchase 🚶♂️- Your goal is to sell to customers first, so include only the necessary steps. 2. Remove unnecessary form fields 📝- Customers are trying to purchase a product, not fill out a Tax form. 3. Minimize Distractions 🚫 - If you didn't get a chance to upsell or cross-sell before customers start the checkout process, don't bother. The checkout process is also not a time to show unnecessary popups. 4. Offer Guest Checkout 🧑🤝🧑 - Some customers just want to patronize you and be on their way, so asking them to create an account can make them change their mind about purchasing. 5. Provide Multiple Payment Options 💳 Check out our recent article to find out more about the steps to employ to simplify your site's checkout process for your customers. 👇👇 https://lnkd.in/d4Q_wspQ
Simplifying The Checkout Process For Higher Conversions
https://www.figpii.com/blog
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🚀 Interested in the latest eCommerce payment trends? Explore the concept of BNPL and what its relevance for sellers. Learn how to transform your online shopping experience in the evolving landscape. 🛒💡 Your success starts here: https://ow.ly/VtsP50QA76G #EcommerceFuture #BNPL #OnlineBusiness #Innovation
Future of Finances: How BNPL Services are Reshaping Consumer Buying and Ecommerce Strategy
the-awm.com
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Have you ever gotten excited about an online purchase, only to abandon your basket at checkout? It happens to the best of us. But as an e-commerce business… Read our new blog Craft a Checkout Experience Customers Love... https://lnkd.in/euUXtfQn #onlinecheckout #ecommerce #customerexperience
Craft A Checkout Experience Customers Love | DRA - Suffolk
dradept.com
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In the dynamic world of e-commerce, staying ahead means innovating continuously. That's where Postscript's Fondue CashBack comes in, a game-changer for retailers and customers alike. I've been exploring this product during my onboarding at Postscript, and the potential it holds for retailers in my network is immense. 🔹 Transforming the Coupon Concept: Traditional coupons, often eating up to 30% of revenue, have long been a double-edged sword for merchants. With tracking challenges and overuse by customers, it's time for a shift. Fondue offers a compelling alternative that benefits both retailers and shoppers. 🔹 CashBack: The Smarter Incentive: Unlike upfront discounts, Fondue's CashBack model provides post-purchase rewards. This strategy not only incentivizes customer opt-ins with offerings like 20% CashBack but also ensures full-price initial purchases. It's a win-win: customers enjoy the freedom of reward choice, and retailers discount more profitably. 🔹 How It Works: Imagine a customer shops and checks out with a UTM-tagged product. Post-purchase, they receive a notification to claim their CashBack, choosing between a store gift card or a Visa prepaid card. After a standard 30-day wait, they receive their reward, incentivizing future purchases. 🔹 Real Impact, Real Numbers: The results speak for themselves. With Fondue, we're seeing a +37% increase in welcome series revenue, a +31% boost in email and SMS signups, and an impressive +5% in contribution margin. These are more than just numbers; they're a testament to the efficacy of CashBack over traditional coupons. 🔹 Success Stories: Take the example of Succulents Box. Their on-site banners, product pages, and checkout carts seamlessly integrate the CashBack offer, enhancing the customer experience and driving higher engagement and sales. 🔹 Versatility in Action: Fondue CashBack isn't just for everyday use. It's a powerful tool during sales events offering increased CashBack rewards to drive higher Average Order Values (AOVs). 🔹 Why CashBack Wins: The flexibility and post-purchase excitement that CashBack offers are preferred by customers. It's not just about saving money; it's about enjoying a unique shopping journey. Fondue is Postscript's answer to helping e-commerce merchants thrive in an increasingly competitive market. By increasing sign-ups, boosting revenue, and enhancing customer experiences, we're redefining what it means to be successful in online retail.
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Traditional checkout is costing you sales. Every extra step… Every unnecessary form field… Every hidden fee… …all make it(much) harder for people to buy from you. Did you know that up to 70% of online shoppers leave their carts before buying? That’s *a lot* of money lost. But there’s a solution: One-click checkout. Here’s how it’s modernizing online shopping: 1️⃣ No new accounts needed Old checkout processes often make people create accounts *before* buying. Not with one-click checkout— It uses accounts people already have, like Amazon Pay or PayPal. This makes ordering faster for customers who don't want to sign up for every site. 2️⃣ Auto-filled information Typing in payment and shipping details for every order is a hassle. It… → Slows down the checkout process (especially on mobile) → Increases the chances of making mistakes One-click checkout takes care of this by securely saving payment and shipping info. This… → Speeds up transactions → Reduces manual entry → Minimizes errors 3️⃣ Clear, transparent pricing It’s frustrating to see shipping costs, taxes, and handling charges added at the last minute. One-click checkout solves this by showing all those fees right away. This means customers know the total cost upfront— No surprises. When people see the full picture from the start… …they’re less likely to abandon their carts. The benefits are clear: → Bigger orders → Repeat customers → Fewer abandoned carts This isn't just theory— It's backed by data and real results. Take Amazon, for example. Their 1-Click ordering system has skyrocketed their growth since 1999 and set a new standard for putting customers first. Or look at Shopify, the eCommerce powerhouse that’s helping merchants worldwide. They’ve made one-click checkout a key part of their platform… and the results have been remarkable. The writing is on the wall: One-click checkout is the present (and future). PS: Want to join them? Send me a DM.
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adorable!