In the last couple of years, Buy Now Pay Later has become an absolute must-have for any eCommerce business. The trend intensified during the COVID 19 pandemic with households needing greater budget flexibilities and Fintech companies offering very attractive and convenient ways to pay for purchases. Read our full BNPL review.
Although merchants are the ones who foot the bill at the end of the day, they are still finding multiple advantages to the BNPL model. Offering BNPL boosts a number of key eCommerce metrics such as:
Although consolidation is happening through multimillion-dollar acquisition, there is still an overwhelming choice for merchants who want to offer this new way to pay.
Not all regions are equal in terms of BNPL offerings. For instance, Australia is a pioneer in this market segment, offering the largest number of solutions, whereas DACH Regions are more conservative and already tied to Klarna who acquired Sofort several years ago.
So, apart from the markets they operate in, what are the key differences between Buy Now Pay Later Solutions?
Ultimately, selecting BNPL partners should be as simple as understanding how the provider’s terms, demographics, and industry coverage, fit in with your business. Unfortunately, however, what typically weighs most heavily for a merchant is understanding the development cost to get the provider integrated.
But what if integration was no longer an issue?
That’s where innovation comes in to solve a big pain point that a growing number of merchants are experiencing. As Natasha Zurnamer, CEO of Optty puts it:
“Buy Now Pay Later is a revolution in retail and Optty is a revolution in BNPL, we enable the superhighway to retail revenue”.
Optty is a company based in Singapore with founders from Australia and the UK and decades of experience in retail and eCommerce.
Optty merchants like Taking Shape, City Beach, and Cotton On Group are already seeing significant benefits by using Optty to offer multiple BNPL options in their markets. In fact, Optty retailer data shows that using Optty to offer 4+ BNPL options in each region you operate can impact order conversion.
Customers want choices in the way they pay and Optty is leading the charge in enabling this.
To further confirm its proof of concept and product market fit, Optty recently raised $9M to accelerate adoption of their products. To celebrate, Optty is offering OneStepCheckout users an exclusive offer, for a limited time only.
Straight out-of-the-box, easy as one, two, three.
With Optty you can benefit from the perfect combo that will further reduce your cart abandonment and boost your checkout conversion.
To celebrate the launch of their solution for Magento Open-Source and Adobe Commerce (Community Edition & Enterprise Edition), Optty is offering OneStepCheckout customers an exclusive deal for a limited time only:
Other Optty benefits include:
Take advantage of this launch offer by signing up before August 31st, 2022.