5 Expert Tips How Pay Later Can Change Retail Business Structure

As a retailer, how often have you felt helpless before eager customers who have had to cancel their purchase solely due to the shortage of funds? Indeed, many customers tend to terminate their purchases only because they cannot afford to pay the lump sum amount while buying the products. So, how about providing them with the convenient option of paying in instalments?

The pay later EMI is one of the most lucrative payment options in the global market today. This flexible option is a boon for retail businesses and customers alike as it increases sales turnovers while eliminating the pressure on buyers. Are you a retailer keen on exploring the pay later option for your business? Check out the five ways in which your business would flourish with this payment avenue:

1. Organised Transaction Means for Retailers and Buyers

Following a systematic payment process is a win-win situation for buyers and sellers alike. With the “buy now, pay later” option, your customers can allocate a specific percentage of their incomes towards the amount payable for their purchase. This strategy ensures that they can complete the payment slowly but steadily within a stipulated timeframe. Simultaneously, sellers can reap the benefits of a systematic transaction process through which a fixed amount is regularly credited to their accounts.

2. Increased Payment Flexibility

Your brand’s customer loyalty is most likely to increase when your customers have a flexible alternative to paying substantial lump-sum amounts for their purchases. Pay later EMI provides customers with a flexible means of organising their payments on large purchases. Moreover, it allows them to determine what percentage of the amount to deposit and the timeframe within which they would complete the payment. For vendors, this flexibility acts as a means to establish trust and credibility among their target groups.

3. Absence of Middlemen

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Borrowers are often apprehensive about moneylenders acting as middlemen in the debt process. However, the “book now pay later” EMI option facilitates direct monetary exchange between the buyers and sellers, thus eliminating middlemen’s mediation. Such a convenient medium helps borrowers and lenders ensure hassle-free and affordable transactions.

4. Easy on Your Consumer’s Pocket

One of the most significant advantages of the “pay later” option is that it does not leave a dent in your customers’ pockets. Instead, it helps them organise their expenses and complete the transaction conveniently and efficiently. Customers often tend to feel more comfortable when you provide them with this security of flexible, step-by-step payment!

5. Increased Sales of Expensive Products

How often have you noticed your customers being enticed by your product but unable to afford it at the moment? It is where the “buy now pay later” facility changes the game for the better! Offering a “pay later” option, particularly for the more expensive products, provides consumers with increased confidence of being able to afford it. Moreover, it significantly increases the sales turnover on such products as customers are more likely to opt for an EMI facility than paying lump sums.


Over the years, the pay later option has helped many buyers and sellers streamline their payments and facilitate healthy associations. Today, various merchant commerce service providers help buyers set up such pay later facilities for their customers. Besides other modern payment options like card swipe machine and QR codes for Android third-party apps, availing such services helps vendors set up a strong financial foundation for their businesses.

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While setting up the pay later option for your business, try to consider some significant aspects like the availability of the credit facility, payment option for debit-card holders and other services like the pay with QR code that may further help your business and the compatibility of the scheme with the top authorised banks.

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