{"id":7713,"date":"2023-01-19T12:00:58","date_gmt":"2023-01-19T06:30:58","guid":{"rendered":"https:\/\/www.idslogic.com\/blog\/?p=7713"},"modified":"2024-05-31T15:48:32","modified_gmt":"2024-05-31T10:18:32","slug":"why-your-shopify-store-should-offer-buy-now-pay-later-option","status":"publish","type":"post","link":"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option","title":{"rendered":"Why Your Shopify Store Should Offer Buy Now Pay Later Option?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#What_is_Buy_Now_Pay_Later_Option\" title=\"What is Buy Now Pay Later Option?\">What is Buy Now Pay Later Option?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#5_Ultimate_Benefits_of_Buy_Now_Pay_Later_Option_in_Your_Shopify_Store\" title=\"5 Ultimate Benefits of Buy Now Pay Later Option in Your Shopify Store\">5 Ultimate Benefits of Buy Now Pay Later Option in Your Shopify Store<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#Attracts_More_Customers\" title=\"Attracts More Customers\">Attracts More Customers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#Boost_Sales_Performance\" title=\"Boost Sales Performance\">Boost Sales Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#Decreases_Cart_Abandonment_Rate\" title=\"Decreases Cart Abandonment Rate\">Decreases Cart Abandonment Rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#Provides_Competitive_Edge\" title=\"Provides Competitive Edge\">Provides Competitive Edge<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#Improves_Customer_Loyalty\" title=\"Improves Customer Loyalty\">Improves Customer Loyalty<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.idslogic.com\/blog\/why-your-shopify-store-should-offer-buy-now-pay-later-option\/#In_a_Nutshell\" title=\"In a Nutshell\">In a Nutshell<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p><span style=\"font-size: 14pt;\">Has this ever happened to you while exploring Shopify store, you liked some products so much that you want to get your hands on them immediately? But, you were tight on budget at that moment and had to drop the idea of the purchase.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-size: 14pt;\">No need to get disheartened anymore! Buy Now Pay Later (BNPL) option is here to fulfill your shopping desires. It\u2019s an effective and powerful marketing strategy that can greatly boost your business in the long run. To stay ahead in the game, businesses should prioritize this thing to get better ROI for their <strong>Shopify development<\/strong> efforts.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">If you\u2019re still wondering whether it\u2019s a good idea to add BNPL or not in your Shopify store, then you\u2019ve come to the right place! \u00a0 This article will help you understand the importance of this payment method for your business.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_Buy_Now_Pay_Later_Option\"><\/span><span style=\"font-size: 14pt; color: #008000;\"><strong>What is Buy Now Pay Later Option?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-size: 14pt;\">Buy Now Pay Later is transforming online shopping. Millions of Shopify stores are providing this facility to customers who are living on a budget and their paycheck is far away. They can split the payment in parts easily and pay on the dates set by payment provider. Businesses will experience a reduction in the cart abandonment rate with its addition. It\u2019s a win-win situation for both the businesses and the customers!<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">So, without delaying any longer, let\u2019s get straight to the topic.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_Ultimate_Benefits_of_Buy_Now_Pay_Later_Option_in_Your_Shopify_Store\"><\/span><span style=\"font-size: 14pt; color: #008000;\"><strong>5 Ultimate Benefits of Buy Now Pay Later Option in Your Shopify Store<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-size: 14pt;\">In general, the payment options that every Shopify store offers includes credit\/debit cards, mobile wallet, COD, etc. The latest one to join the list is BNPL that has reduced the strain on pocket size of customers. They don\u2019t have to make payment in one go, but in installments.<\/span><\/p>\n<p><span style=\"font-size: 14pt; color: #008000;\">Here are a few benefits of adding BNPL option in your Shopify store.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Attracts_More_Customers\"><\/span><span style=\"font-size: 14pt; color: #003366;\"><strong>Attracts More Customers<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">One of the biggest reasons for adding BNPL option is that it grabs attention of your potential customers faster. If you\u2019re struggling to get more business, this method can accomplish your sales goals by driving more traffic towards your Shopify store.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Boost_Sales_Performance\"><\/span><span style=\"font-size: 14pt; color: #003366;\"><strong>Boost Sales Performance<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Online shopping is increasing day-by-day with millions of sales yearly. Having BNPL facility can take your business forward with a sharp rise of 20-30% in sales. Yes, you read it right! It has got great potential to drive sales by increasing average order cart value of customers.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Decreases_Cart_Abandonment_Rate\"><\/span><span style=\"font-size: 14pt;\"><strong><span style=\"color: #003366;\">Decreases Cart Abandonment Rate<\/span> <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Businesses that are worried about their Shopify store\u2019s high cart abandonment rate must choose BNPL. Mostly, the customers abandon their carts after checking the total cart value, leading to loss of sales. When they don\u2019t have to make complete payment, they can surely shop from your store.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Provides_Competitive_Edge\"><\/span><span style=\"font-size: 14pt; color: #003366;\"><strong>Provides Competitive Edge<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Many Shopify stores exist that are not offering BNPL facility to their customers. You can take advantage of this situation by adding this method in your payment options. It can give your business an upper edge over your competitors that can ensure future growth and development. Don\u2019t be late to join this bandwagon!<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Improves_Customer_Loyalty\"><\/span><span style=\"font-size: 14pt; color: #003366;\"><strong>Improves Customer Loyalty<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Your customers will get highly impressed on seeing the financial flexibility at their checkout page. With pay later option, you are giving them the reason to stay loyal to your brand. They\u2019ll never look for alternatives and continue shopping from your Shopify store.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"In_a_Nutshell\"><\/span><span style=\"font-size: 14pt; color: #003366;\"><strong>In a Nutshell<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-size: 14pt;\">Buy Now Pay Later option is here to stay. It has offered unprecedented payment convenience to customers. They can shop worry-free from stores as they don\u2019t have to make full payment for their orders. It\u2019s an affordable financing solution for customers. \u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-size: 14pt;\">In case, your Shopify store is missing out on BNPL option, speak to a renowned <a href=\"\/shopify-development\/\"><strong>Shopify development company<\/strong><\/a> to add it in your list of payment methods. This can make your business stand out from the rest and attain a competitive edge online.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":8967,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,1182],"tags":[1009,1184,1010,1224,1185],"class_list":["post-7713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","category-shopify","tag-shopify-development","tag-shopify-development-company","tag-shopify-ecommerce-development","tag-shopify-features","tag-shopify-solution"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/7713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/comments?post=7713"}],"version-history":[{"count":3,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/7713\/revisions"}],"predecessor-version":[{"id":8968,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/posts\/7713\/revisions\/8968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/media\/8967"}],"wp:attachment":[{"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/media?parent=7713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/categories?post=7713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.idslogic.com\/blog\/wp-json\/wp\/v2\/tags?post=7713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}