In this continuously growing world with latest technologies, long gone are the days where all the transactions were done on cash. We are in the era in which all kind of transactions are done either online using some of the online wallets. If there are some commercial transactions, they are done using either Paypal or other available payment gateways. Ecommerce web design companies nowadays are making utmost use of the latest payment gateways similar to layby, but cheaper than it, Buy Now Pay Later interest free payment gateways such as Afterpay & Zippay.
CONVENIENT TO CUSTOMER or MERCHANT? CHECK IT OUT!
For customers, BNPL is the most convenient way for any deal. But it can be a risk for any business to host such a platform. With the help of Afterpay & Zippay, the business owner can overcome the risk as they are able to bear all fraud and credit risk of the transactions. These platforms also guarantee upfront payments for their merchant customers. For small businesses, using these platforms can be a better option as they do not have the resources to build or host huge layby online. The potential of these platforms is reported very high. The number of merchants using these platforms is increasing on a daily basis. 2017 is going to be a revolutionary year for these platforms. Reports say that Afterpay has given an increase in sales by 20-40% in 2016.
Aussies are more to use these platforms. Even highly prestigious players in retail markets of Australia have these platforms available for its brands. But it has different kind of outcomes in different industries. So before you start working with this, research about your product and its outcome with the product. Know how it will be resulting your business. For this kind of advice, you can approach various ecommerce web design companies available out there.
Lets talk something about its working, and how you can use it in a smarter way to increase your sales.
AfterPay is a platform almost similar to lay-by payment system. It lets you purchase up to $1000AUD which would settle up your order in 4 installments over 8 weeks. Installments would be interest free. Certain conditions are there to be followed for using AfterPay, which is one must be over 18 years old and should be a citizen of Australia and must have a valid Visa or Mastercard issued in Australia.
Zippay is an another interest free installment system which allows you purchases upto $1000AUD and offers the choice to settle the balance within a week, fortnight or a month. Terms and conditions for Zippay are similar to Afterpay but it does not require a valid credit card. Additional fees occur in both the gateways when it is the case of late payment.
For retail businesses, these payment options are a great opportunity to increase sales. As these are interest-free, customers find it more suitable to make transactions and indirectly results into higher sales. Instead of immediate lump sum, it allows customers to pay for their purchases in four installments. Especially, the merchant receives the entire payment at the time when the customer purchases the item although the customer pays it in four fortnight installments. Merchants are charged some fees for every transactions. There are no setup fees or monthly fees charged to the merchants for using any of these payment gateways.
WHO WILL INSTALL IT FOR YOU?
Use these gateways smartly to increase your sales in 2017 and Alinga Australia is an ecommerce web design company that would install any of these payment gateways to your business. We can help you install it for any Magento or Shopify business.