Over half of consumers are either more likely to choose retailers that offer it or switch to ones that do, according to the results of this month’s “Buy Now, Pay Later Tracker,” which, according to Boundless CEO Xiao Wang, is evidence that BNPL benefits businesses just as much as it benefits its customers.
Recent immigrants and people who want to immigrate face more difficulties in the United States than most other groups, particularly when it comes to paying for the services they need to support their efforts.
These people must deal with the additional costs of navigating the intricate immigration system for themselves or their family members, in addition to the fact that they are more likely to be poorer than the average citizen by birth.
“There are several obstacles that prevent someone from beginning to live their life in the United States and being able to save up enough money to even begin this process plays a significant role in that. We can decrease that barrier for families by offering “buy now, pay later.”
Offering buys now, pay later (BNPL) has advantages for both the business using it and its clients. When customers can spread out the cost across several smaller installments, they are far more likely to make purchases in larger quantities, which increases the company’s income.