Many businesses have turned to Buy Now, Pay Later recently. It has been gaining its popularity since the pandemic with more consumers shopping online. ABLE Platform allows BNPL lenders faster go ot market and do a quicker credit check.
Boost your sales with new payment service. Launch your point of sale instalment loans within a couple of weeks. Loans approved in seconds with enriched decisioning.
By making purchases more affordable through BNPL platform, eCommerce can expand their customer base to include buyers who would typically not have the ability to pay.
Turn your data into sales. Telecoms can do up-sell and cross-sell to existing customers with no risk and grow their brand awareness and customer loyalty.
Some BNPL lenders lack data to do the credit check. Using data enrichment connectors may drastically improve the scoring efficiency. At ABLE Platfrom we use our own no-code engine for easy connect of new data sources.
There is no doubt that BNPL will continue to attract young shoppers and older generations that don’t have a credit card.
Buy now, pay later has become the world’s fastest-growing e-commerce payment method… The number of users is growing every day and exceeds 45 million in the US alone. New BNPL players are born every month.
There are now 50+ fintechs driving BNPL services across the globe — with banks and other transaction-based businesses eager to get in on the act. The sheer number of competitors in the space is an indication that we should pay attention to this payment method and where it might be heading.
ABLE Platform software enpowers BNPL lenders with a powerful yet simple tool for retail financing.
Simple yet powerful automation for smooth onboarding
Advanced loan monitoring and early warning for default prevention
No-code decision engine powered by AI
Add new data points on the go without the IT department
Buy now, pay later is a type of short-term financing that allows consumers to make purchases and pay for them at a future date. BNPL is generally structured like an installment plan money lending process that involves consumers, financiers, and merchants.
Here is how the BNPL process works for both consumers and retailers.
As a consumer, you enjoy several potential benefits when using a BNPL service.
ABLE Platform allows to launch new products with feature-reach product catalog functionality. Business users can change decisions logic without code to comply with changing regulation.