Resource: Newsbtc.com
2 years ago
Date: 15 Feb 2022 - 10:18

BuyNow PayLater BNPL is the fastestgrowing payment option for ecommerce. The idea of BNPL is to enable merchants to buy on credit and pay back later at their leisure. Although it has its origins in credit cards it is considered to have far more potential in the industry. In fact customer acquisition for BNPL services surged by 162 between 2018 and 2019 alone.Most merchants are now realizing the need for BNPL platforms because of the immense benefits they can offer. Moreover BNPL is also redefining the consumer journey by effortlessly integrating as a checkout option into ecommerce.As a result every small merchant now wants to learn the fundamentals of buy now pay later including how it works the integration needs and how to manage the checkout experience.Merchants Perspective on Integrating BNPL Into Their ShopsFrom the standpoint of merchant checkout design BNPL is simply another payment option that does not need any special effort. Surely as with any new payment method some backend integration is necessary to present this option to customers.However BNPL connections are simple and technically similar to other popular alternatives such as credit cards debit cards or digital wallets. If a merchant utilizes a checkout page hosted by a payment service provider i.e. hosted payment page the merchant will need even less effort to activate BNPL payments.Moreover adding popular BNPL options like Pay Klarna Afterpay Openpay or Affirm to the payment mix is functionally equivalent to adding Apple Pay or American Express. Merchants can integrate the option directly with the BNPL supplier or via their existing payment service providers. Integrations using current payment providers generally reduce merchants integration burden.Providing Massive Benefits for MerchantsBNPL comes with a lot of benefits to the merchants. Firstly it increases the conversion rate of sales of a product. According to a 2020 survey 88.05 of online purchasing orders get abandoned due to a lack of funds to purchase things. Using a BNPL design on the other hand can significantly alleviate this problem by allowing buyers to purchase products on credit.Similarly BNPL allows retailers to make large purchases more affordable by spreading them out across three four six or more months thereby allowing them to reach a broader audience. Furthermore it also enables merchants to make highvalue items more affordable through the use of a flexible payment structure. Also it increases the average order value or the amount a consumer spends while making a transaction.Furthermore it enhances the whole customer experience ultimately promoting sales and aiding in retaining customer loyalty. The potential of BNPLdesigned systems is huge and the benefits they provide are true gamechangers for the old TradFi. Things are bound to change as this new generation of platforms makes inroads into the financial market.In fact many BNPL startups are already making noise in this space. Pay is one such platform that is disrupting traditional FinTech with its blockchainbased approach. It offers significant cost savings to all participants in the ecosystem by utilizing smart contract technology. Its goal is to be a leading player in providing customers and merchants with decentralized finance ecommerce and instore solutions.Improving the Overall Customer ExperienceAs much as BNPL is useful for merchants it is also becoming popular among customers providing them with rapid access to an authorized credit limit that can be utilized for purchases. Although with its similarity to smallticket loans it has grown in importance and popularity for one important reason a convenient and smooth user experience. From online shopping to bill payment the cashless and cardless BNPL is efficient fast and userfriendly.Making this a reality platforms like Pay are providing customers with the best user experience to make shopping smooth or easy. The platform allows users to pay for their shopping with any approved cryptocurrency that they hold in their Pay wallet. Moreover it rewards shoppers for making purchases through their ecosystem. Ultimately it aims to provide users with access to interestfree credit by developing a fiattocrypto interface for eCommerce.Laying a New Standard for PaymentsAs the usage of frictionless contactless experiences and mobile wallets at the checkout in the retail environment keeps growing the use of BNPL is also set to skyrocket. With platforms like Pay making strides it is evident that BNPL is here to stay. Customers are increasingly being exposed to BNPL services outside of eCommerce to pay for goods and they may one day be as common as credit card payments.nbspnbsp

Read in the source

Share this page

馃憫 Collect a daily bonus of 10 Crowns every day for free! Collect the bonus on the personal page of the Crowns
馃敆 Join our referral program and earn 小rowns together! Invite your friends to our friendly community

Crypto Overview Show morenavigate_next

USDT Market Price Change (24H) Market Cap Last 7 Days
39997.79 $ 0 % 760.32 Billion $
3001.33 $ 0 % 360.05 Billion $
1.001 $ 0 % 82.65 Billion $
398.86 $ 0 % 59.29 Billion $
1.004 $ 0 % 50.96 Billion $
101.49 $ 0 % 33.28 Billion $
0.122 $ 0 % 31.52 Billion $
0.7024 $ 0 % 30.96 Billion $
82.96 $ 0 % 29.44 Billion $
0.9455 $ 0 % 29.42 Billion $

Crypto News Show morenavigate_next

With the Goerli merge going successfully there is growing confidence that there will be no further delays to the Ethereum Merger set for midSeptember.

Defi protocol MeterIO hacked, lost $4.3M Bitcoinik.com 2 years ago

Defi Protocol MeterIO faced a hacking attack and that resulted in a very big loss for the exchange.In 2020 few crypto leaders introduced the concept of Defi to bring a highly decentralized ecosystem in the crypto industry. However the entry of Defi in the crypto space grabbed huge attention but that was accompanied by huge numbers of vulnerabilities and bugs. The majority of the bad actors are tak

Why and How To Withdraw Your Bitcoin From Exchanges Bitcoinmagazine.com 9 months ago

Why should I withdraw my bitcoin from an exchangeIf you have to ask permission to use whats yours its not truly yours. Have you ever heard the phrase Not your keys not your coins Its true. If you do not withdraw and hold your bitcoin private keys you are not in control of your own money. Leaving your bitcoin on your exchange account means that you are placing a significant amount of trust in a thi

David Schwartz compared crypto miners in the Ethereum and Bitcoin ecosystems to shareholders of eBay which he believes makes BTC and ETH securities as well.

Blue Chip NFT collections such as Azuki Clone X and Doodles are leading the steady growth of a market that has traded over 17 billion since 2020.

The post Solana SOL Price Prediction 2022 2023 2024 2025 Is SOL A Good Investment appeared first on Coinpedia Fintech amp Cryptocurreny News Media Crypto GuideSolana with its exhilarating flight in the past is under the active consideration of investors and traders. Howbeit the steady downswing has been heartwrenching for not one but many. Whilst the business is still trembling following the mark

A panel of 55 cryptocurrency experts has revealed that they believe the price of the flagship cryptocurrency Bitcoin BTC could surge to hit 270000 by 2030 while predictions for the end of this year still see the cryptocurrencys price rising. The expert panel surveyed by comparison web portal Finder predicted that BTC would trade at

Athome bitcoin miners are the backbone of a decentralized Bitcoin network. Celebrating Pleb Miner Month in September puts the focus back on the little guy.This is an opinion editorial by Barnminer a Bitcoiner focused on improving selfsovereignty and onboarding home miners.Bitcoin mining began at home with Satoshi Nakamoto mining the first 50 bitcoin in the genesis block on what would likely be con

Bitcoin and other cryptocurrencies in the market have had an interesting weekandahalf. From the CPI report to the completion of the Ethereum Merge it has been a rollercoaster of volatile activity across the market. Even with this the market is still not done with its big events. The FOMC meeting is held on Wednesday which like in the past promises unpredictable movements for the crypto markets.Exp

Five South Korean cryptocurrency exchanges recently said they will delist litecoin because the crypto assets Mimblewimble Extension Blocks MWEB upgrade violates the countrys laws. As a result the exchanges users cannot use the Korean won to trade the crypto asset which has since been named a dark coin.Upgrade Violates Specific Financial Information ActFollowing the recent Mimblewimble Extension Bl

On April 26 the Bank of Spain published a report elaborating on how Spaniards and Europeans have been using cryptocurrencies during the last year.The report explains that Europeans prefer decentralized services and unbacked cryptoassets such as Bitcoin BTC and Ethereum ETH. In addition the Central Bank of Spain noted that the volume of cryptocurrency transactions in the European Region increased a

Bitcoins nature makes it impervious to the effects of conflicts.Since the start of the RussianUkrainian conflict Bitcoin donations have flowed.Despite the increasing use of cryptocurrency gold is proving itself yet again as the ultimate wartime asset.Putins decision to invade Ukraine sent shockwaves around the world. Investors eye Bitcoin to hedge their wealth in the face of conflict but despite i

The NFT trademark ecosystem is heating up of late and the newest entrant to dive into this space is the worlds largest stock exchange by market capitalization 8211 the New York Stock Exchange or NYSE. On February 10 the platform which goes by the nickname 8216The Big Board filed a trademark application to register the 8230

Russias famed antagonism towards cryptocurrencies is slowly fading away as the transcontinental country appears to be softening its legislative approach to the asset class. In a recent highlight of events Russias Ministry of Finance and Central Bank are looking to approve the use of crypto for crossborder payments.Russia will establish a regulatory framework for cryptoTASS a local media outlet in

Ethereum returns above $1000 鈥 Should you buy Coinjournal.net 10 months ago

For so many years many fencesitters in the crypto industry have waited in bated breath for the prices to crash so that they can buy in. After all in 2021 crypto was just hot. Coins hit recordbreaking highs and Ethereum was predicted to hit 10000 this year. But things havenrsquot really turned out that way. Here are some factsETH fell below 1000 for the first time in months.However the coin has man