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What Merchants Need To Know About Buy Now, Pay Later + How It Can Help Your Business

Going digital is one of the adjustments many businesses are doing these days. Because of the Covid-19 pandemic, businesses, both big and small, are resorting to the World Wide Web not only to sell their products but also to reach out to bigger market.

What does this mean?

As a business owner, you need to make extend payment options to consumers to make payments easier and more convenient. Payment channels include:

These are convenient options especially for small purchases. What if your customer needs to buy big items from you? Ideally, credit card will suffice. But for millions of Filipinos who don’t have access to credit cards, purchasing items they need will be limited.

How can you provide solution as a business owner? Add Buy Now, Pay Later facility in your list of payment options.

What is Buy Now, Pay Later?

Also known as BNPL, this payment scheme allows consumers to shop for their needs and pay for their purchases later, usually on installment basis. You can also enjoy interest-free period, usually two months, starting from the day of purchase.

The BNPL payment scheme has been around for quite sometime. Credit cards are the best example of this since consumers can already buy items and pay for them at a later time or on installment. Unfortunately and because of the required documents, not everyone can get a credit card. This could limit someone’s spending power, especially when they need to purchase big items.

As a business owner, how can you avoid this? Consider adding BNPL payment option in your list of available payment channels.

Why incorporate BNPL as part of your payment channels?

That being said, BillEase is ready to accommodate your need for BNPL platform and help you grow your online market.

Why BillEase?

More importantly, BillEase supports all merchants, regardless if you’re big or small, no matter what type of business you’re in. Call us and request for a demo, and be one of our merchants today.

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