#buynowpaylaterinnigeria Archives - CredPal

CredPal Pay: An omni-channel merchant suite to drive sales through BNPL.

CredPal — Mon, 06 Jun 2022 10:40:59 +0000

The evolution of payment has transcended from simply carrying out transactions to bridging the gap between provider and user through innovative technology. The ecosystem has experienced massive growth, particularly in digital payment solutions and consumer credit. In recent years and amidst the global pandemic, there’s been more adoption than ever before just as there has been a lot of focus on embedded finance but this comes as no surprise.

Our focus has always been to play a key role in driving the retail market through embedded finance and innovative solutions like buy now, pay later that cater to businesses and consumers. We’ve been doing this for over four years and continue to evolve in building products that cater to all kinds of merchants; eCommerce, social commerce, as well as brick and mortar stores. It is what has led us to a continuously evolving product – CredPal Pay.

What we now call CredPal Pay started out as a point-of-sale financing solution for merchants. In 2018, we started out with a plugin integrated at the checkout point of eCommerce stores like Pointek, Slot, Dreamworks, and a number of other online retailers. This checkout plugin served as an embedded integration that allowed online merchants to offer their customers a flexible payment option when shopping.

And in November 2021, we redefined the point-of-sale financing solution and birthed an improved product called CredPal Pay. An omnichannel suite designed to enable merchants of any size conveniently offer buy now, pay later to their customers, receive orders via a number of channels, and most importantly increase order value and sales.

The challenges and potential

Cart abandonment

According to Baymard Institute, the average e-Commerce site has a cart abandonment rate of 69.82%. This means that for every 100 potential customers that visit a merchant’s website, 70 of them leave without making any purchase. Let’s do a quick maths to see what this means for revenue, let’s say a merchant with an eCommerce site makes a revenue of $10,000/month. Then finds a means of turning just 25% of the abandoned carts into orders, they’d make an additional $2,500/month!

Consumers’ low purchasing power

Only seven African countries on the continent have a minimum wage equal to or less than $200, while for the majority of other African countries, it’s below $100. The low economic growth and insufficient well-paying jobs have made it a challenge for a large percentage of African consumers to pay outright for small or large ticket purchases.

The average purchasing power is still very low in even the fastest-growing markets because there is just a small class of middle and high-income earners which leaves a large population still struggling with minimal spending power.

A cash-driven economy

Cash is still popular within the informal retail sector in Africa and this is because consumers still trust cash transactions first, still opting for cash-on-delivery when shopping online and paying cash in informal retail markets like roadside stores. While it’s important to note the increasing adoption of digital payment methods, there’s still a significantly large gap to fill in reducing the cash spend in Africa. As of 2021, cash was still the main payment method for online shopping in Morocco, Egypt, and Kenya.

Merchants’ in-house financing is a disadvantage

In an interview with one of CredPal’s partnered merchants, he explained how they offered to finance specific segments: customers with high Life Time Value (LTV), friends, and well-acquainted customers. His experience was that 70% of them defaulted on the payment for items they got despite the relationship and assurance of payment.

It was a business risk that didn’t pay off because the merchant was handling an in-house consumer financing that wasn’t sustainable and worse of all, tied down capital that could have been used for inventory. Other small and medium-size merchants wouldn’t even consider this option despite customers requesting it because of the high-risk and capital involved in consumer lending.

Building for merchants: a buy now, pay later solution for the retail industry

Driving a significant increase in sales

Offering payment options to potential and existing customers gives consumers the financial flexibility to manage their budgets and increase their purchasing power. What this means for merchants is higher purchase value, frequent purchases, and most importantly, an increase in sales.

Alternative payment options have been recognized as a strategy to combat cart abandonment and secure potential customers. The article by Shopify further states that one in four merchants offering buy now, pay later double their average order value because they offer customers the choice to spread their payment over monthly installments.

RBC Capital Markets 2021 outlook estimated that point of sale financing increases retail conversion rate by up to 30% and lifts the average ticket size between 30% to 50%. Furthermore, BNPL sales are expected to double between 2021 and 2026, keep in mind that as of 2019, BNPL represented 2.6% of global eCommerce sales (excluding China) estimated at $60B.

Making your business every customer’s shopping destination

Due to the global pandemic, it was important for CredPal Pay to evolve to suit the demands and changes of the retail market. With the redefined and improved product, what we’ve done is build an omnichannel suite that offers merchants a range of digital payment options to choose from when offering their customers buy now, pay later.

Over and over research has proven that retailers with more payment options have a higher chance of receiving more orders. In a survey carried out by CR Research, 60% of the respondents indicated that they have used a buy now, pay later service and 46% of those were currently making a payment through buy now, pay later.

Digital payments as a convenience

In Nigeria, wholesale and retail sales are the third-largest contributors to the country’s GDP, contributing 16% although mostly driven through informal markets. According to Statista in 2021, cash was also not very prevalent in Nigeria compared to a few of its counterparts, with 35% of eCommerce payments transacted by card, and 21% by bank transfer, it is obvious that consumers are embracing the ease that comes with digital payments and exploring more options including installment payment.

As a merchant, if you’re yet to add BNPL to your payment options, now is the time to do that.

Providing your customers the ease of paying without cash and a higher purchasing power is the extra boost your business needs to close more sales. CredPal Pay is built with no restrictions. No matter the size of the business, online or offline, there are enough payment options to use instead of sticking to just cash, POS, and bank transfers.

The value and convenience of CredPal Pay

QR Code and Payment Link

CredPal Pay makes it convenient to offer buy now, pay later from anywhere you operate.

Whether your business operates from a brick-and-mortar store, or social commerce (Instagram, Facebook, Twitter, and other social platforms). Once you register as a business, you get a dedicated dashboard that gives you access to everything you need including your payment link and QR code both of which can be shared with anyone who wants to pay you through CredPal.

But there’s more, you can track payments, and access digital assets to help you promote your business as a CredPal partnered merchant. We’re not just helping you offer your customers convenience and flexible payment options, you’ll also be handling fewer cash purchases and more contactless payments.

When using CredPal Pay, you no longer need POS machines, cash payments, or bank transfers. Everything is done via your own generated QR code and payment link.

Checkout Plugin

Revenue for the eCommerce sector in Africa is set to reach a value of over 46.1 billion U.S. dollars in 2025 and BNPL is one of the major factors that have been repeatedly highlighted as a tool for this growth. Also, research by After Pay states that customers are more likely to shop from an eCommerce store that offers BNPL as a payment option.

So, how else do you leverage this opportunity? By including flexible payment options at the point of checkout. Integrating CredPal’s plugin at the checkout point of your eCommerce store is straightforward, whether it’s WooCommerce, Magento, etc. there’s a plugin for you. Our Relationship Managers will also guide you through the integration if there are any challenges.

Building for merchants: The CredPal Pay advantage

Increase in sales and average order value.
Merchants bear no risk with CredPal Pay: They are paid immediately once an order has been made while CredPal takes sole responsibility for customer repayments.
Merchants tap into thousands of new low to medium-income buyers! These buyers are used to having to save up before making major purchases. Now, they can use CredPal and instantly buy what they need.
Simple onboarding for merchants to process customers’ orders.

How to get CredPal Pay

Registering to be a merchant partner is easy, simply click here to register and a member of the Retail Partnerships Team will reach out to you to educate and onboard you. Once this is done, the next steps will be to offer CredPal’s buy now, pay later to your customers and start making more sales!

Visit credpal.com/business
Tap on “Become a CredPal Merchant”
Fill in the required details to register
Our Relationship Managers will contact you within 24 hrs
Get onboarded and start using CredPal Pay!

Whatever your business goals are, CredPal Pay aligns with them.

Source

The post CredPal Pay: An omni-channel merchant suite to drive sales through BNPL. appeared first on CredPal.

Buy Now Pay Later in Nigeria

CredPal — Thu, 26 May 2022 14:08:36 +0000

What exactly is BNPL?

Buy Now Pay Later is a form of financing that allows customers to buy items and claim immediate ownership after paying a part of the money and spreading the rest over an agreed period. Buy Now Pay Later is excellent for those who need products and services now but don’t have the money available; they can use this option to receive their items without paying immediately.

BNPL is becoming more popular with merchants worldwide as it allows e-commerce companies to offer installment products to consumers. It offers simple and transparent pricing models that make it easy for consumers to pay for products in installments.

CredPal is a financial technology company that aims to increase the purchasing power of consumers and economic growth by offering better and easier access to consumer credit through buy now, pay later.

According to Bain and Company, “BNPL makes life more affordable”. It is becoming an important tool to make a range of goods and services more affordable. “Couldn’t afford the whole price of a purchase up front” was the third most common reason to buy through BNPL, with 34% of users selecting it as one of their top three reasons. This share was even higher among people from the lower end of the economic spectrum, with 48% selecting that reason. In short, people are using BNPL to unlock purchasing power.

Buy Now Pay Later In Nigeria

BNPL transactions have experienced a rapid increase world wide and Nigeria is no exception. What makes this innovative payment method attractive is that it comes as a cheaper alternative to taking up loans to acquire the same item. Also, even with a bad credit history, you can still have access to this payment option.

Even though BNPL in Nigeria is becoming popular, there are still a few distinctions in the local industry in Nigeria relative to the global BNPL industry. In this article, we outlined how BNPL works in Nigeria and the benefits it presents to customers and merchants. It could be useful to business owners who might be interested in applying this payment method to their business.

How does BNPL work in Nigeria

Just like in other parts of the world, Buy now pay later in Nigeria is used to increase people’s purchasing power and reduce their financial burden, these days a lot of these platforms are emerging in Nigeria.

Nigerians can now shop for certain products, mostly electronics, and spread payment across a specified period of time.

In order to establish trust and ensure financial safety, some of these platforms in Nigeria require a valid identification card such as voters card, international passport, or driver’s license, bank statements and so on, while others may only require you to sign up on their platform, and check out using their services.

How to Buy now and pay later with CredPal

To buy now and pay later using CredPal, it only takes a few steps. Once you have completed the process, you can purchase the items you want and split the cost over a period of time. (up to 6 months).

You can either shop online or offline. To purchase online, you can walk into any of our partnered merchant stores and select any item you would like to purchase, let the merchant know that you want to pay using CredPal’s buy now pay later, after which you can either scan the merchant’s QR code or use the CredPal payment link that will be provided by the merchant.

You’ll be required to pay 30% of the price of the product upfront while you’ll split the payment of the remaining 70% in up to 6 months. Once you have been approved by CredPal the merchant will hand over the item purchased to you. That’s all.

To purchase online, you’ll need to sign up or log in to the CredPal app. On the dashboard, click on the “Shop” icon at the bottom of the screen. Select any of the displayed merchants on your screen or search for a merchant in the search bar. Pick the item you want and add it to your cart. Once that has been done, then you can proceed to checkout. On the merchant’s checkout page, select “CredPal Buy Now Pay Later” as the payment method. Sign in to your CredPal account on the CredPal checkout page and make a 30% down payment, that’s it you’ll item delivered to you.

Benefits of BNPL to customers in Nigeria

Below are the benefits that come with using a BNPL service in Nigeria as a customer:

Convenient and flexible

For consumers who might not be financially buoyant, BNPL offers a convenient and flexible payment option. From grocery shopping to gadgets , with BNPL you can make that purchase and split your payment without any hassle.

Affordability

While other forms of loans have higher interest rates and late fees, the BNPL options provides a more affordable payment option since they typically have limited fees and interest rates.

Benefits of BNPL to merchants

Below are the main benefits of BNPL to merchants:

Increased sales.

When a merchant offers BNPL it encourages customers to buy more products. When customers get the advantage of splitting payment to their convenience, they tend to shop for more than one product, regardless of the price.

Attracts new customers.

Because of how convenient and seamless this process is, it attracts more customers. Most people like the idea of purchasing an item and splitting the costs over a period of time.

Also, when it comes to promotion, not only is the merchant advertising what they sell to the but the BNPL platform also helps to publicize it, thereby bringing in more customers.

So, if you are one of the few who is yet to use any BNPL services, then you might want to start with us. From gadgets to electronics, furniture and even food, we’ve got you covered.

Don’t second guess it, download the CredPal app today, get your shop on and split your payment.

DOWNLOAD CREDPAL ON APP STORE DOWNLOAD CREDPAL ON PLAYSTORE

Source

The post Buy Now Pay Later in Nigeria appeared first on CredPal.

9 Tips to meet your financial goals in 2022

CredPal — Thu, 06 Jan 2022 16:35:11 +0000

Setting goals at the start of the year is always a “beginning of the year syndrome” that affects almost everyone, especially financial goals. It’s more like a new year, a new beginning, and another opportunity to review the past year and set the ball rolling again. Financial goals seem to be the height for some of us as that is the time where we sum up all the things we want to achieve into a monetary figure that it will produce at the end of the year.

Hence, we will be discussing how to meet your financial goals and stay out of debt this year. Financial goals can be scary sometimes because you write the figure and you ask yourself, can I really meet up with this? The answer is you can if you plan and follow the tips we are going to share in this article.

1. Create a budget and stick to it.

A financial budget is necessary for every financial goal. It helps you to plan how much you will be spending on certain things every month. You can do this by creating a list of what you spend every month. Examples of these expenses are groceries, subscriptions, transportation costs, provisions for the house, savings, amongst others. It is important to create a budget for all these to know when you are spending more than you earn and when to control it.

This article by The balance will help you learn a step-by-step guide to creating a personal budget.

2. Stop impulse buying

Sticking to a financial budget takes discipline which shows if you know how to say no to impulse buying or not. There are times where they are just too beautiful to ignore or you need them to satisfy your cravings at the moment but you need to know how to stay disciplined so that you can meet your financial goals. This year, ensure that you buy with your head, not your emotions.

3. Pay off credit card debt

Here at CredPal, we encourage an early repayment lifestyle. Our credit card services are flexible and give you a grace period of 3 days when you miss your repayment before incurring late fees. Late repayment habits attract more than you are expected to pay back which is unhealthy for your financial goals.

Here is an article that speaks to why it is important to make early credit card repayment.

4. Invest

Another way to get your money to work for you is by investing. Ensure that you invest in what you trust alone. There are so many fraudulent investment plans out there, do not fall for them. Do your research and invest wisely.

5. Get paid what you’re worth

We live in a country where the thirst for getting employed allows many to accept any pay. This narrative should change this year. You can have conversations with friends who are already in the industry and be informed about the salary range so that you can negotiate well and ask for an increase at the appropriate time. It’s 2022, you should get paid what you’re worth.

6. Cut down on monthly subscriptions

We are in a technology age where we have to subscribe to many channels in order to enjoy their services. Services like magazine or newspaper subscriptions, gym membership fees, and other streaming services. There are some of these services that you might not be using frequently or some that you do not use at all in a month, you should cut down on them. You can also find other alternatives that would not require you to pay monthly fees at all.

7. Build emergency savings plan

This is what we call, saving for the rainy days. The last 2 years have taught us that rainy days can come at any time. Who would have thought that there would have been a pandemic that would render some jobless and many half-paid. An emergency fund is money set aside in times of financial distress. Don’t be caught unaware. This is different from your monthly savings, it is just another savings wallet. Financial institutions like PiggyVest and Cowrywise are very good apps that can help you save for different goals.

8. Prepare for a major purchase

Most of us start the year with plans to either get a new phone, buy a car, build a house, start a major course amongst others. Some people make the mistake of getting these items in the course of the year and end up being broke because they had to put a huge sum of their savings into getting them.

Do not make this mistake in 2022, prepare for that major purchase.

One way to hack this is to get the items and spread the payment over a period of time. This way, the pressure of paying at once is lifted off your shoulders. Here at CredPal, we allow you to spread your payments within 6 months. And to crown it all, we have partnered with merchants within different industries like gadgets and electronics, flight & travel, groceries, fashion, amongst others. This also saves you the stress of having to shop from merchants who are not reliable.

You can read more about our buy now, pay later services here.

9. Have an additional source of income

You do not have to start big, it could be a small business where you serve as a retailer and resell to end-users, you can learn how to bake from YouTube and start selling pastries, become a makeup artist, a fashion designer, or manage a social media account for brands. This doesn’t stop you from focusing on your 9-5 as you must also learn to strike a balance between your major source of income and other income channels.

Be intentional about hitting your financial goals this year and you will be glad that you did.

Source

The post 9 Tips to meet your financial goals in 2022 appeared first on CredPal.

Key things to know while shopping with BNPL

CredPal — Wed, 03 Nov 2021 18:45:26 +0000

Shopping with buy now, pay later has not only paved the way for businesses to increase sales and acquire more customers, but it has also helped end users to unlock the unlimited benefits that come with meeting their needs and spreading their payment over a period of time.

Entrepreneurs and business owners have been serving as agents of awareness for the BNPL payment option by offering it to their customers. The narrative is changing and the more businesses accept the payment option, the more customers are aware of it.

Shopping with buy now pay later can be tricky if you do not understand the basics of the payment services.

Educating yourself about a payment method that you have not used before is the best way to avoid running into debt especially because it can affect your finances. Here are the key things you should know before and while using a BNPL service.

1. Understand the payment options

Many of the BNPL financial organizations offer multiple payment options for your purchases. At CredPal, we offer 2 payment options. You can either pay at once or spread your payment within 6 months. You get the option to pay at once if your order amount is within your credit limit. You are offered the option to spread your payment within 6 months if your order amount is higher than your credit limit.

For example, if your credit limit is 20K and you are making a purchase of 10K, you can pay at once, but if you are making a purchase of 25K, which is higher than your credit limit, you will have to spread your payment within 6 months.

Make sure that you read up the terms and conditions before you accept the mode of payment so that you don’t pay for your ignorance later.

2. Examine the interest rates

You should know the amount you would be paying back when you are making your repayment. Our BNPL interest rate is based on your card type.

CredPal card plan

BASIC: 0 Naira annual fees; 21% monthly interest (restricted to users with less than 7k credit limit)
STANDARD: 0 Naira annual fees; 14% monthly interest
PREMIUM: 6,500 Naira annual fees; 6% monthly interest
PRESTIGE: 52,000 Naira annual fees; 3.8% monthly interest

3. How to pay

After you have confirmed the interest rate and you have selected the one that you are comfortable with, the next step is to know how to pay when you want to make a purchase using the payment option. We allow our customers to pay within the CredPal app.

How?

Log in to the CredPal app and head to the marketplace on the home page.
Search for the merchant you want to buy from and enter your product information,
Choose a way to pay, and when you want to pay back ( 2 – 6 months)

4. Return policy

It is essential that you clarify if you can return the products that you are purchasing using BNPL. We always ensure that our customers call the merchants they want to buy from to confirm the availability of the product and the price before they pay for it. Because once a product is paid for, the money leaves your credit limit and you would be expected to pay later at the due date.

However, we can reach out to the merchants to ensure that faulty products complaints are addressed.

5. Don’t overshoot your budget

Do not take for granted the ‘pay later’ part of the payment option that you begin to spend more than your budget. That move is not okay for your financial well-being. So, when you want to buy with the BNPL payment method, ensure that you stick to your budget.

Now that you are aware of the things you should know when you want to shop with CredPal’s BNPL payment option, head over to your CredPal app and begin to shop from our partnered merchants.

Have an awesome shopping experience

Source

The post Key things to know while shopping with BNPL appeared first on CredPal.

CredPal partners with Hubmart to offer buy now, pay later

CredPal — Wed, 20 Oct 2021 14:57:13 +0000

Buy now pay later supermarkets in Nigeria are evolving day by day. As a financial institution whose focus is to help consumers obtain easy access to credit in Africa, we are invested in partnering with businesses that can help our customers acquire all they need without only relying on their monthly income. We value our partnerships because it helps us enhance our merchant’s business credibility and image.

It is with a great thrill that we announce that we have partnered with one of the biggest supermarkets in Nigeria, Hubmart.

About Hubmart

Hubmart is a Nigerian supermarket whose blend of international retail standards has been combined with the Nigerian heritage to give its customers an awesome shopping experience. The supermarket is customer-centric and its need for growth is fueled by the customer’s needs and desires. This is why accepting a payment option that allows their customers to shop and pay later was an exciting one for them as much as it is for us.

By virtue, of this partnership, you can now shop at Hubmart and pay later at your convenience. You are not restricted by any financial, or economic barrier. With CredPal’s buy now, pay later services, your shopping cart is ever ready to take all you need.

To show how much we value this partnership, we visited and hosted an activation round their major stores in Lagos; Ikeja, Omole, and Victoria Island. We had an awesome experience telling the walk-in customers about CredPal and our services.

Our buy now, pay later services is not only beneficial to customers who cannot meet their urgent needs, but also a very strong strategy that helps businesses to increase sales and acquire new customers.

You can join the category of people who are boosting their sales by registering your business on retail.credpal.com. Be a part of the buy now pay later supermarkets or stores in Nigeria.

Also read: CredPal partners with Slot Systems to offer buy now pay later

Source

The post CredPal partners with Hubmart to offer buy now, pay later appeared first on CredPal.

CredPal partners with Slot Systems to offer buy now pay later

CredPal — Mon, 11 Oct 2021 20:15:49 +0000

CredPal has partnered with Slot, the leading retailer in electronics and gadgets. This partnership will allow customers who want to purchase mobile phones, gadgets, household appliances, and electronics to “buy now and pay later”.

About Slot Systems

Slot Systems is the leading retail company for affordable and durable mobile phones, computers, accessories, household appliances, and various types of electronics. The company was founded in 1998 and has been serving Nigerian customers for over 20 years with over 70 branches located in different parts of Nigeria. This partnership enables Slot to offer a convenient and flexible payment option to its customers, while CredPal continues to build a strong foothold within the consumer credit and retail space.

Why retailers need buy now, pay later

With this service, CredPal helps business owners to solve problems such as abandoned carts, and a decline in sales due to customers’ lack of funds. Using a buy now, pay later service offers retailers the guarantee to gain an increase in sales, retain existing customers, and acquire new customers.

Commenting on the partnership, Stella Agwu, the Business Development Manager of Corporate Sales at Slot Systems, said that one of the key reasons for this partnership is because CredPal is one of the few buy now, pay later services that offer enormous spending power to their customers. A statement that has been reiterated by other merchants that CredPal has partnered with.

In recent times, the African continent has experienced an upshot in buy now, pay later with the acquisition of South Africa’s Payflex by Zip and CredPal is pioneering this space not just by offering this service across industries like hospitality, fashion, beauty, and the rest; it’s also partnering with major retailers like Slot to reach millions of customers in Nigeria.

5 Reasons to add Buy Now, Pay Later option to your E-commerce

CredPal — Wed, 22 Sep 2021 15:41:26 +0000

The consumer market has evolved over the years especially with its payment options. From accepting cash as the only means of payment to accepting bank transfers to using POS services and now to the phase of buy now, pay later in E-commerce.

Who would have thought that the phrase “no credit today, come tomorrow” can inspire a time-changing innovation where customers can buy whatever they need all on credit without the fear of not being able to pay back.

The Buy now, pay later payment option has been available for many years. You have probably heard it as shop now, pay later, installment payment, pay in 4 months, pay small small, pay at your convenience, and many more. Whichever term you’ve heard of, they all mean the same thing – you are simply buying and paying later.

The duration at which customers payback is dependent on the policy of the company. However, customers are not paying you back, you get paid in full while customers pay the financial organization later at their best duration.

Here at CredPal, customers have the opportunity to spread their payment within 2-6 months.

Reasons to add Buy Now, Pay Later to your E-commerce business

Have you heard so much about this payment option but you are not clear about how it works and still have doubts? Here are reasons you can consider adding the buy now, pay later option to your business.

1. Easy to merge to your website

Once you have signed up on CredPal, which we have explained in this article, the buy now, pay later payment is easy to integrate into your website, if you have one. That way your customers that shop on the website are aware that you are accepting such a payment option which makes it easy to shop for customers who would prefer the payment option.

2. You get paid in full while your customer pays in installments

We’ve had to clear the doubts of some of our merchants who ask what happens to a customer when they default or refuse to pay them back. Your customers are not paying you in installment, they are paying us back in installment. You get paid in full as soon as an order is confirmed from the customer’s end.

3. Flexible payment structure

Your customers enjoy a flexible payment structure that doesn’t pressure their accounts. They can buy from you, spread their payment, and still sort their other needs. CredPal allows your customers to spread their payment over 6 months with a breakdown of what they’re expected to pay back every month.

4. Convert new customers

Acquiring customers might be easy with the help of a great SEO strategy and social media ads but converting these customers to make sales requires another strategy of flexible payment option. You never know the customers whose preferred payment option would be to split payment, having a payment structure like this, helps to convert these sets of customers.

5. Increases customers Lifetime value (CLV)

A customer’s lifetime value is the total amount a customer spends at your store as a customer. When customers realize that they can buy from you and pay later, it helps them to continue to buy from you because there is a payment option that can help them buy from you while still meeting their other needs.

The buy now, pay later payment option is now one of the most acceptable payment options in and outside Africa. If you are convinced enough and you are willing to accept CredPal as a payment option for your customers to buy and spread their payment, then you should sign up now.

Source

The post 5 Reasons to add Buy Now, Pay Later option to your E-commerce appeared first on CredPal.

#buynowpaylaterinnigeria Archives - CredPal

CredPal Pay: An omni-channel merchant suite to drive sales through BNPL.

The challenges and potential

Cart abandonment

Consumers’ low purchasing power

A cash-driven economy

Merchants’ in-house financing is a disadvantage

Building for merchants: a buy now, pay later solution for the retail industry

Driving a significant increase in sales

Making your business every customer’s shopping destination

Digital payments as a convenience

The value and convenience of CredPal Pay

QR Code and Payment Link

Checkout Plugin

Building for merchants: The CredPal Pay advantage

How to get CredPal Pay

Buy Now Pay Later in Nigeria

What exactly is BNPL?

Buy Now Pay Later In Nigeria

How does BNPL work in Nigeria

How to Buy now and pay later with CredPal

Benefits of BNPL to customers in Nigeria

Convenient and flexible

Affordability

Benefits of BNPL to merchants

Increased sales.

Attracts new customers.

9 Tips to meet your financial goals in 2022

1. Create a budget and stick to it.

2. Stop impulse buying

3. Pay off credit card debt

4. Invest

5. Get paid what you’re worth

6. Cut down on monthly subscriptions

7. Build emergency savings plan

8. Prepare for a major purchase

9. Have an additional source of income

Key things to know while shopping with BNPL

1. Understand the payment options

2. Examine the interest rates

CredPal card plan

3. How to pay

How?

4. Return policy

5. Don’t overshoot your budget

CredPal partners with Hubmart to offer buy now, pay later

About Hubmart

Also read: CredPal partners with Slot Systems to offer buy now pay later

CredPal partners with Slot Systems to offer buy now pay later

About Slot Systems

Why retailers need buy now, pay later

Read more about CredPal’s eat now, pay later partnerships with restaurants in Lagos.

5 Reasons to add Buy Now, Pay Later option to your E-commerce

Reasons to add Buy Now, Pay Later to your E-commerce business

1. Easy to merge to your website

2. You get paid in full while your customer pays in installments

3. Flexible payment structure

4. Convert new customers

5. Increases customers Lifetime value (CLV)