Choosing The Right Buy Now Pay Later (BNPL) Service For Your eCommerce Business
Having buy now, pay later (BNPL) integration is becoming an essential facet of successful eCommerce as the best companies utilize these services to increase their profit margins among other benefits of BNPL. But with so many BNPL service options available on the market, business owners can be stumped at which solution to choose. The best BNPL partners are those with simple integration processes and a track record for increasing conversions at checkout, and we will explore everything that you should consider when you choose a BNPL service for your eCommerce business.
Choose a Simple and Seamless Integration
The best BNPL services are also the most simple and seamless to integrate. These partners have worked with a range of businesses across industries to develop a method for integration that requires little effort from the business owner. The implementation and management of BNPL services by these partners instead of relying on an in-house eCommerce team save businesses time and money, doubling down on the benefits of partnering with a supportive BNPL service provider.
Choose a BNPL Service to Boost Your Bottom Line
BNPL is designed to support businesses by growing their bottom line through increasing sales, improving average order values, and encouraging return customers. The best services on the market have a proven track record for doing so. ChargeAfter is an example of a leading BNPL company that has an 85% approval rate and a 45% increase in average order volumes. These statistics indicate the success of ChargeAfter’s BNPL service in living up to claims, encouraging the use of this particular BNPL solution for better business and profit margins.
Choose a Partner Suitable for a Wider Consumer Base
Over and above raising the values and volumes of your existing orders, BNPL solutions can entice new shoppers to eCommerce platforms. The best BNPL solutions appeal to a wider consumer base as shoppers do not have to apply for credit checks when sourcing consumer financing from these partners. The integration, available at the checkout, provides one of the most efficient means of receiving financial aid, appealing to consumers without credit cards and those with lower credit scores. Capitalizing on these consumers is critical to the success of eCommerce platforms as more and more individuals are turning to online shopping after the pandemic.
Choose a Flexible BNPL Service
Your chosen BNPL provider should be flexible, able to adapt to business decisions and user experience changes on the fly. These solutions should be available across all platforms, easily available no matter the consumer’s device, and uninterrupted to reduce downtime that could reduce the rate of sales for eCommerce growth.
Choose a Partner That Provides Comprehensive Support
The best BNPL partners provide round-the-clock support for eCommerce businesses, providing analytical feedback and strategic recommendations to improve the consumers’ checkout experiences. ChargeAfter supports companies that choose to partner by providing full reporting with insights and comprehensive data, giving business owners key metrics to make better decisions and improve their eCommerce platforms. These full reporting capabilities can support an online store’s consumers as marketing teams can utilize data to make smarter marketing decisions and provide comprehensive customer support. These BNPL service providers focus their efforts on improving your business, a mutually beneficial partnership for joint business growth.
When selecting your BNPL service provider, consider the above-mentioned factors before making your decision. You should ensure that your chosen provider provides simple and seamless integration, is dedicated to boosting your bottom line, gives you access to a wider consumer base, is flexible at every level of marketing across devices, and provides comprehensive support for the duration of the partnership. Doing so will ensure that you achieve your profit goals this year.
Want to learn more? Reach out to us here.