The trend of buy now and pay later certainly has managed to boost the sales for any e-Commerce industry. The trend has been emerging for the past few years and so buyers on Shopify have the convenience to purchase even without making payments in advance.
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- Shopify merchants online have the convenience to offer the buy now and pay later option to their customers
- Using this feature, merchants can also offer EMI benefits to the buyers
- It makes purchases more easy and affordable for the buyers
How has this feature changed the way people can shop at Shopify? You need to read further to get more information related to Shopify store setup and configuration service online.
- How does this trend work?
The trend is not new as most physical stores have already been offering it to their customers. For an online platform, this trend is a dream come true. So the moment you decide to buy, you have the convenience to select the payment options.
If you are running short of cash in your bank account, you can request EMI options. To use this feature, buyers have to add the product to their shopping cart. From the payment page, you have the convenience to set desired EMI option.
- Why do buyers prefer this model?
Most buyers are unable to purchase any product if they run short of money. They may have to wait till they are having right amount to make the payments. But now you can check out with online Shopify Development Company.
The model has boosted sales by over 55 per cent. You may find that over 40 per cent of the customers prefer using this option. They can purchase any product even without making full payment. EMI can be selected and pays made later the following month.
- Flexibility and convenience
In case the payments do not have to be made instantly when buying the product, it is beneficial. You may only have to set the right EMI option that suits your needs. The payments are never made manually. You just have to decide to select the right time when you can make the payments.
For the merchants, Shopify mobile app development is more convenient. The EMI and payment options can be added to their eCommerce website. No physical transactions or documents have to be done. The EMI feature can be accessed by the customers on their own from the web portal itself.
- Maintenance free option
If you opt for the EMI option in a physical store, then you are bound to pay the maintenance fee and charges. In some cases, this amount can be a big sum. But if you are a Shopify customer, then you may not have to worry about maintenance fee.
Even if you are paying the amount in instalments, you are not bound to calculate the processing charges. This is helpful as you are not using your credit card as well.
- Keep adding to your cart
One major advantage of using this feature for the customers is that they may not have to wait for months to buy their dream product. The moment you come across any product that you want to buy, you can simply keep adding it to your shopping cart.
You can also decide to purchase the same product instantly. For all the purchases you can select one EMI option. You can keep paying the EMI on monthly basis. You can add any number of the product to your shopping cart.
- Benefit for merchants
If you are a Shopify merchant then you can look around for Shopify consultant in California.You can add all products to your website. You can also expect better sales as you may not have to worry about losing any customers because of a lack of money.
The EMI risk will be undertaken by the third party that accepts the EMI options. The moment any sales are made you will receive the commission in your bank account. Your sales are better and you can also decide to add more products to this list.
Merchants can gain the trust of potential customers. They can add new customers to the existing list. The method proves helpful in driving sales. In most cases, stores can boost sales by five times.