The Buy Now, Pay Later (BNPL) model has been a strong ally of micro, small and medium-sized entrepreneurs. The new features of fully digital installments are the reason for the growing number of individuals and companies adept at the BNPL credit card, or Buy Now and Pay Later.
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BNPL is a promising channel for customer acquisition and loyalty, managing to pay in installments or generate an additional term for purchases, without needing a credit card with fees. Between 2016 and 2021, installment plans grew around 23 times worldwide, with approximately US$164 million invested. Growth, however, is motivated by the ease it brings to the entrepreneur.
Technology is one of BNPL's greatest allies, as it plays a key role in ensuring that its function is employed with agility and easy access. Increased payment terms and installments for purchases are solutions that generate breath in the cash register, and with a fully digital system, a few clicks are all it takes for the situation to begin to be resolved.
It is common to associate Buy Now, Pay Later with store credit. However, the concept of the program goes further, as it proves to be extremely advantageous with B2B relationships, as the supplier assumes the role of offering credit to the customer with a smarter system, bringing an immediate line of credit, with installments according to the assessed credit potential, increasing the acquisition of inputs and improving capital of turning.
The result is the economic development of the entrepreneur, increasing sales and seeking customer loyalty, reducing risks and generating financial stability.
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