Global Buy Now Pay Later Platforms Market Is Anticipated To Witness Significant Growth Owing To Increasing Integration Of Artificial Intelligence And Rising Product Launches
Buy Now Pay Later Platforms Overview: Buy Now Pay Later Platforms offer a new way for consumers to make purchases on the items they love from businesses that accept them. These services provide a streamlined checkout experience, help reduce fraud, and increase conversion, average order value, and customer retention. Depending on the service, they can also offer a flexible payment plan with no interest for installments lasting a few weeks or months and report to credit bureaus to help consumers build credit history. To use a buy now pay later app, customers simply choose that option at the checkout point of an online shopping cart. The app does a soft credit check to pre-qualify them for the financing and then automatically bills their monthly payments to a card or bank account, or takes payments from their checking or savings accounts. The best buy now pay later apps minimize these risks with responsible lending policies and by making it easy for their customers to manage repayme