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Online shopping is booming. Customers expect the ultimate shopping experience. The "buy now, pay later" (BNPL) payment option is very popular: customers can buy goods and services immediately without having to have the money in their bank account. BNPL is actually nothing more than "purchase on account". What does this trend mean for you? And how do we protect you in the process?
Today it has to be fast and flexible
Customers want their dreams to come true quickly, even when shopping. Simply postponing payment until they are liquid again is sometimes very convenient for some consumers. We have had "buy now, pay later" in our range for years - as "purchase on account". However, the abbreviation BNPL is suddenly causing a sensation on the American market and is replacing credit card payments to some extent. As a new star in the payment sky, we want to take a closer look at this payment option and share our experiences with you.
Invoice purchase 2.0: What is "Buy now, pay later"?
SEPA direct debit, credit card, PayPal or instant bank transfer are all common payment methods. Next to them, "purchase on account" looks pretty outdated. So take the same principle and rename it: "Buy now, pay later" is the result.
As a retailer, should you trust the customer and serve the trend?
The way merchants accept payments has an impact on their conversion rate and sales. But should you really offer BNPL to every customer? After all, as a merchant you are making an advance payment. The customer receives their goods - you don't know what the financial situation is like. Right?
Not when we come into play: We take the risk off your hands. You don't have to decide whether to trust your customers or not. We simply do the checking and the hedging. You may be wondering how that works. We don't offer your customers anything they can't really afford. In the background of an online purchase, we check the financial situation with a credit check. If everything is covered, we give the green light for "buy now, pay later"!
We say "yes" to "BNPL" with our "DIA-PAY purchase on account".
The payment process with our modern payment solution DIA-PAY is therefore free of obstacles - for you and your customersSo only the payment options that suit the consumer's situation are offered. On the one hand, this prevents hassle and, on the other hand, ensures very good conversion rates and revenue for you. And you get your money with 100% security. A real sales booster for you.
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Contact details:
Holger Kück
Managing Director of Diagonal Service GmbH
Risk & Payment
Mail: hk@diagonal.eu
Phone: +49 4181 3000-1173
