There is a new trend in e-commerce, it’s called ‘buy now, pay later ‘ (BNPL, for its acronym in English) and became the darling of millennials and Gen Z because it democratized and detonated online sales for everyone.
In Mexico, products under the format buy now and pay later are at your fingertips through Kueski Pay, one of the leading companies in the sector that promotes electronic commerce in the country; If you don’t know how it works, take a look at this tutorial.
But what is that?
The BNPL It is a format that facilitates online purchases by disseminating the payment in installments of different products or services, many times without the need to meet any type of interest and, the best thing, is that you do not require a card or bank account.
Worldwide, the phenomenon of Buy Now, Pay Later (BNPL) is growing rapidly. The vertical posted an annual increase of 197% in the second quarter of 2020 alone, according to a BNPL report from Cardify.
And in what way can I join?
Very easy, the next time you make an online purchase, look for the Kueski Pay logo when checking out your shopping cart; later, fill out the form and enter your data, choose the partialities and that’s it.
The main advantage of this practice is called flexibility and both your credit line and your bank card will appreciate it.
For example, let’s say you want to travel and go on vacation; you enter the site of your favorite airline and start the purchase process, you choose Kueski Pay As a payment method, you answer the questionnaire and once your application has been approved, instead of paying 4 thousand pesos at once or saturating your credit card, you make four payments in different fortnights of only one thousand pesos. All this while building your credit history. Cool, huh?
And if you have doubts about the certainty of this format, don’t worry. Kueski Pay It began operating in 2018 and they have more than 500 affiliated businesses, it is also worth knowing that this type of payment has become popular among millennials and centennials because of how easy it is to use and the control it provides over their finances.
With Kueski Pay buy now, pay later, everything no credit card. This model is not only a way of financing for its users but also a payment method. The system is integrated into the ecommerce of the business through the main ecommerce platforms or through an API.
And also safety!
In addition to allowing users better financial planning, it allows businesses to eliminate fraud by Kueski Pay pays the merchant for the product in advance and in cash; Then it manages the collection in different fortnights to the client, without interest within certain terms. In this way, the customer can choose to pay for his purchase in installments without interest while the merchant can receive the money on the spot.
So now you know, BNPL is the new trend online and joining it is very easy.