Find out how PayPal’s Pay Later offers can enable a frictionless payment process, giving consumers the quick and seamless shopping experience they prefer.
Nothing puts the brakes on an otherwise enjoyable shopping experience like a checkout process that is overly time-consuming or complex. That can be especially true for shoppers who are looking to finance their purchase. These customers may get redirected to other sites or have to fill out long forms. It’s enough friction to start a campfire.
But now, retailers have an opportunity to take the friction out of consumer financing, thanks to PayPal Pay Later.
With PayPal’s Pay Later offers, you can give customers all the benefits of buy now, pay later, but without the friction they may experience with traditional consumer financing options. Shoppers can typically check out in fewer steps, especially if they already have an account with PayPal.
Pay in 4: A short-term, interest-free installment offering that lets customers pay for purchases in 4 payments over 6 weeks, while businesses get paid up front.1
Pay Monthly: A medium- to longer-term installment offer that enables customers to pay in 6, 12, or 24 monthly installments.2 Customers can pay over time and businesses still get paid up front.
PayPal’s Pay Later offers take the friction out of financing, giving shoppers benefits such as:
Seamless credit decisions. PayPal has more than 426 million active accounts worldwide. Since these shoppers already have an account with PayPal, the approval process is frictionless. New customers may require a soft credit check for Pay in 4 and a hard credit check for Pay Monthly, a process that usually takes only a few seconds.
A sense of security. When customers see the PayPal logo on a website, they feel confident about shopping there. In fact, when considering how to pay for an online or mobile purchase, 68% of consumers rate being able to pay with a brand they trust very important.3
Financing for every price point. PayPal’s Pay Later offers let shoppers take advantage of financing options for nearly any order amount, with the choice of Pay in 4 for smaller purchases and Pay Monthly for larger purchases.
Retailers can add dynamic messaging on product pages right next to price points to highlight buy now, pay later options early in the buying journey, helping to encourage shoppers to complete checkout.
PayPal’s Pay Later offers also have several key advantages for retailers, including:
No additional cost or risk. Pay Later offers are included in PayPal Checkout at no additional cost. And since you’ll get paid up front, you won’t take on any additional risk.
A seamless shopping experience. You can add both Pay in 4 and Pay Monthly to your website with a single integration, along with PayPal Pay Later dynamic messaging.
Increased conversions and higher average spend. Our buy now, pay later solutions can boost merchants’ conversion rates and increase cart sizes by 39%.4
More than ever, consumers are being drawn to creative financing options. With PayPal’s Pay Later offers, you can help take the friction out of the checkout process, while giving your customers extra buying power.
Explore how PayPal’s buy now, pay later options could reduce friction in your payment process. Talk to your account manager or call 855-477-5687 today.
Share your email to receive the latest enterprise updates, top stories, and industry reports.