If it seems like every eCommerce website now offers Buy Now, Pay Later (BNPL), you could be right. From inexpensive T-shirts to high-ticket jewelry, consumers want their goods without having to pay all the money upfront or taking on pricey credit card debt. And there are rumblings the BNPL trend will be popping up for B2B as well.
In this week’s BlueSnap Snapshot, we asked if companies offer a BNPL option. While 34% of respondents say they already do, 37% are planning to. Here are the full results:
And why wouldn’t companies want to offer BNPL? According to BlueSnap partner Splitit, eCommerce sellers that offer these type of installment payments report 30% higher cart conversions and 20% higher average order value. That adds up to a lot of reasons to offer this nontraditional payment option