A Bloomberg report revealed that the financed payments strategy, also known by many as “buy now, pay later,” has recently broken records.
Indeed, this installment payment option boosted online Christmas shopping during the 2023 holiday season.
To be more precise, between uk telegram database and December 31, 2023, “e-commerce spending in the United States was $222 billion.”
While “the use of post-payment increased compared to the same period in 2022.”
This fact is also surprising:
“Usage of financing plans hit an all-time high of $16.6 billion for e-commerce purchases in the last two months of 2024.”
funded payments
Four.com.
funded payments
Source: PayPal.
funded payments
Klarna.com
Benefits of financed payments
These digital sales strategies are great for boosting your turnover, as their benefits have a great impact.
Here are just a few:
Financial accessibility
Higher-priced products or services become more affordable solutions for those who cannot afford to make a one-time payment right away.