The concept of BNPL is not something new in the world of retailing and financing, but with the rise of e-commerce, the digital version of BNPL also emerged as an alternative to credit cards, PayPal and other forms of payment. BNPL allows buyers to purchase a product and settle it in a pre-set number of payments over a certain period of time. Most of the buyers who choose this payment method are Gen Z and Millennials, and some of their providers are Klarna and Affirm .
Retail businesses receive the benefit of increased sales from customers who would not otherwise have made a purchase, and customers get the products they want right away. Some additional benefits of Buy Now Pay Later are:
Attraction of new clients
This option was originally launched by Amazon, one of the Belgium WhatsApp Number Data world’s leading ecommerce platforms, as a way to build and run applications and services without infrastructure management. Your information resides in the “cloud”, and the managed service provider is responsible for ensuring that it functions optimally. Some examples of serverless architecture systems include WS Lambda, Microsoft Azure Functions, and Google Cloud Functions.
The main benefit of using serverless architecture is its profitability, since you do not pay for the cost of operating the servers. Maintenance is the responsibility of the service provider, so your marketing and design team can focus on improving the customer experience on your website instead of maintaining the server architecture. Unfortunately, you can’t have everything: Workload limitations and security risks are some of the downsides of using cloud-based platforms for eCommerce.
Conversion Rate Optimization
As an ecommerce business, you know that it’s not just about generating more traffic, it’s about converting traffic into sales. Conversion Rate Optimization (CRO) aims to Bold Data improve the shopping experience, both on landing pages and category pages, and at any other point of contact with the customer. How can you increase CRO on your eCommerce platform? Put the following into practice: