The Buy now, Pay later option is becoming increasingly common in online stores. Customers can use BNPL services to purchase goods and services while deferring payment until later quickly.
This gives clients more flexibility and spending power while also giving online retailers a chance to boost sales and profits. WooCommerce is one well-liked eCommerce platform that supports BNPL.
WooCommerce is a free and open-source eCommerce plugin for WordPress. Millions of online retailers utilize it to market their goods and services on their websites. WooCommerce additionally provides numerous payment gateway connections, such as BNPL services.
Merchants must open an account with a BNPL provider and install the necessary WooCommerce plugin to use BNPL in WooCommerce.
Every BNPL supplier will have a unique plugin easily accessible in the WooCommerce plugin directory.
The BNPL option will be available for consumers to select once the plugin has been installed and active. After selecting their desired BNPL provider, they can proceed with the normal checkout process. The BNPL provider will handle the payment and all subsequent payments by their terms and conditions.
How To Choose The Right BPNL Plugin?
Purchasing the right plugin can be challenging, especially regarding your data security. Let’s look at some points you must consider before buying the right plugin according to your website’s functionality:
Easy to Use
A BNPL platform can expedite and simplify the purchasing process for your clients. They quickly finish their Buy and go back to their previous task. Seek platforms that provide a quick and non-tedious buying procedure to encourage your clients to buy again. Customers should be reassured that they don’t have to worry about paying the entire amount up front by the software, which can significantly lower cart abandonment rates.
Easy to Customize
You can use various buy-now-pay-later techniques with these platforms. The “Pay in 4” approach, which divides the total amount into four divided payments, is the most preferred. Until the entire sum is paid, the pay-in-4 process makes one payment every two to three weeks. You can search for BNPL platforms that provide a variety of term lengths, from a few weeks to months.
Cost to Customers
Buy-now-pay-later accounts are similar to credit cards in that the customer must repay when the installment is due. Although buy-now-pay-later installments normally do not incur interest, failing to make payments can have several consequences.
Best Buy Now Pay Later plugins for WooCommerce
Let’s take a look at some of the best Buy Now Pay Later plugins for WooCommerce:
Afterpay
For users who are new to using Afterpay when making purchases, the platform establishes reasonable and open initial spending credit limits. This initial limit can increase when customers make their payments on time. To encourage clients to spend correctly, the vendor also offers advice. Retailers who offer both online and in-person purchasing alternatives can use Afterpay. It offers direct connectivity with Square, built right in, making providing BNPL alternatives from a Square POS system simple.
Affirm
The platform is helpful for telesales, in-person sales, and online purchases. They are the BNPL solution of choice for Amazon. No matter where customers make purchases, businesses can incorporate buy-now-pay-later alternatives with Affirm. To make it simple for customers to purchase from your e-commerce site, you can use Affirm to display flexible payment terms on every product page and checkout.
Humm
Humm promises to pay your company in full on the following business day. If your small firm depends on these payments, this may be important. In addition, Humm will refund its charge if a consumer returns an item to your shop.
Sezzle
It gives customers financial knowledge and transparency, empowering your target market. Utilizing the Sezzle Up program helps you provide clients the chance to avoid late fees while also enabling younger customers to establish credit.
When your clients sign up for this program, Sezzle will notify credit reporting agencies of their timely installment payments. Sezzle provides your clients with a simple BNPL solution. The only payment option is the four-pay plan, which entails a 25% down payment upon receiving an order from a customer and three more payments. Any gains from your clients must be made within six weeks.
Conclusion
Several eCommerce companies place the highest focus on offering flexible payment options. With the Buy Now Pay Later feature, consumers can immediately buy and pay for things through weekly or monthly installments.
Making this option available at the checkout eases your customer’s decision to complete the transaction. Thus, if you want to provide your consumers with the most enjoyable shopping experience possible through flexible pricing, raise the average order value, boost sales, and reduce payment fraud.
Consider the BNPL alternatives mentioned above and choose a plan that matches your spending limit and precise requirements.
Why is Seahawk the Best Choice for WooCommerce?
Seahawk offers reliable and robust WooCommerce development services. We provide businesses with a completely configurable e-commerce platform and help them set up their WooCommerce store quickly with the help of our WooExpert coaching. Our experts customize appropriate plans according to your website’s requirements within your budget.
