A game-changer is emerging in the world of retail payments. New research by PYMNTS and Splitit reveals that a staggering 75% of merchants now prefer credit card-linked installment options over traditional Buy Now, Pay Later (BNPL) plans. Why the shift? 💡 Nearly 90% of merchants believe these card-linked installments significantly boost customer acquisition and retention, outperforming BNPL by a considerable margin. What This Means for Your Business: Customer-Centric Approach: Consumers are increasingly seeking flexible payment options. By offering credit card-linked installments, you're meeting this demand head-on and enhancing the overall customer experience. Increased Sales and Loyalty: Merchants are reporting higher sales conversions and improved customer loyalty with card-linked installments. This is a winning combination for long-term growth. Competitive Advantage: By staying ahead of the curve and embracing this trend, you're positioning your business as a leader in innovative payment solutions, attracting new customers and retaining existing ones. Want to know more? Dive into the full PYMNTS and Splitit research to discover how you can leverage credit card-linked installments to drive your business forward. #retail #payments #fintech #customersatisfaction Connect with Splitit CEO Nandan Sheth to discover how to implement this exciting new payment option for your customers! 👇
As consumers demand flexible payment options, we’re seeing growth in credit card-linked installment options that do not involve new loan origination at checkout. What does this mean for the future of #BNPL? Nandan Sheth, CEO of Splitit, dives into this trend uncovering the reason for this shift and how merchants should effectively cater to these evolving demands. New research by PYMNTS and Splitit reveals a significant trend: nearly three quarters of merchants now favor credit card-linked installment options. This data shows that nearly 90% of merchants believe general purpose credit card-linked installments boost customer acquisition and retention, compared to just 64% for traditional BNPL installment options. To effectively cater to evolving consumer demands, merchants must grasp the nuances of these payment modes. By tailoring options to specific customer segments, businesses can offer personalized payment experiences that resonate throughout the customer journey. Curious to learn more about how merchants are navigating these shifts? Dive deeper into the insights here: https://lnkd.in/d3YNNaj4 #FintechNews #Fintech #ConsumerPayments #BNPL #Payments #Finance