Stylized graphic with the title "pay-over-time pays off" with photo of a phone showing a checkmark, signifying a successful order

Pay-over-time pays off

Buy now, pay later is here to stay. And it’s changing the game for retailers. 

As one of the fastest-growing payment methods in the e-commerce world, it’s clear that customers love using buy now, pay later (BNPL). With this growth in use and popularity, you could really miss out if you don’t offer a pay-over-time option to your customers.

The good news? It’s simple to get started, and there are many ways that a pay-over-time solution can benefit your business. Let’s take a closer look at why shoppers are using BNPL more than ever before—and how you can use this shift in consumer behavior to your advantage.

Build brand loyalty when you give customers an alternative to credit cards

Shoppers are eager to find a better alternative to credit cards, and they’re finding a perfect match in BNPL options, like those offered by Affirm. 

Everything you offer customers reflects back on your business, and payment options are no different. When you offer a pay-over-time option at checkout, it signals that your business cares enough to give shoppers payment options that meet them where they are and offer them more flexibility to fit their budgets. And when customers feel valued and respected, they return the favor. 

Affirm also promises no late or hidden fees. Consumers love to pay over time, but they hate late fees: Nearly 3 in 4 respondents (74%) said there’s nothing worse than getting a late fee when paying a bill.

Eliminating late fees is an important part of earning consumers’ trust and improving their experience, especially for those who want to avoid traditional lending services. Shoppers want to know exactly what to expect. A clear no-late-fees policy gives them just that.

Increase sales when you offer shoppers more payment flexibility

Savvy consumers are using buy now, pay later as a tool to buy what they need in a financially responsible way.

A cool thing happens when merchants offer a pay-over-time solution: They see an increase in average order value. Why? Because many financially responsible people want more options for how they pay, but they feel limited by some traditional methods.

Pay-over-time options give shoppers the freedom to manage their cash flow and finances in the way that works best for them. As a result, businesses see significantly less drop-off at checkout when they offer a service like Affirm. Nearly 3 in 4 customers (74%) report that they would have abandoned their carts if Affirm was not at checkout.

Even more importantly, BNPL removes price as a barrier—enabling people to buy more of what they love or invest in higher-quality, big-ticket items. 

When people are empowered to spend their money on what they find valuable, they walk away from the experience confident in their purchase and happier overall. This means they’re much less likely to return their purchase—and more likely to be a returning customer. 

What you should look for in a pay-over-time solution

Want to dig deeper into these opportunities and learn more about how to find the right pay-over-time solution for your business? 

Download our ebook, Pay-over-time pays off, to get insight and tips into how you can use BNPL to your advantage.

If you’re an existing Affirm partner looking to better leverage your pay-over-time options to drive growth, take a look through our ebook on how to increase AOV. And if you’re interested in partnering with Affirm, here’s how you can get started today.