With Buy Now Pay Later, a buyer can order a product and pay for it over the course of the allotted period. The supplied solutions are often low-cost credit choices that help offline and online enterprises. In this case, customers pay back the purchase price in installments. Depending on the BNPL service provider, the payback window may be open for several months or just a few hours.
Benefits Of Buy Now Pay Later For Small Businesses
Customers can increase their purchases without increasing their weekly/monthly spending. As a result, when clients place larger orders, both sales and the overall order value grow.
Keep Cash Flow Smooth
Since their money is not tied to their consumers, retailers, merchants, or small enterprises can continue operating and maintain an effective cash flow.