Paypal is one of the most popular methods of making online transactions that simply credits or debits an authorised bank account. But what if your customer is keen to checkout an item but doesn’t immediately have the funds? Until now, the only option was to reach for a third party credit card instead. But now Paypal has introduced its own quick credit facility called Bill Me Later.
As with any form of credit, applying to add a Bill Me Later facility to a Paypal account depends on the customer’s finances and creditworthiness. But once it’s set up and authorised by Paypal, it allows purchases to be made within an agreed credit limit. Then if Bill Me Later is selected as the preferred payment method, the customer need only enter a few digits of personal security information to buy the item in seconds.
If a customer clears the balance before the due date, there’s no interest charge and no other fees. And for eCommerce retailers, that means less hesitation and more conversions. On top of this, Paypal is offering special discounts and promotions for Bill Me Later users – so there’s an extra incentive to use it for purchases. They’ll also be covered by Paypal’s Purchase Protection Guarantee for added peace-of-mind.
With Bill Me Later, the world’s most popular payment facility has introduced flexible, instant credit too. That’s sure to be popular at the checkouts and can only be good news for any online retailer. If you’d like to know more and also discover how iWeb expertise can transform your eCommerce sales conversions, why not get in touch?