Choosing efficient payment gateways for your online store is one of the most critical tasks you will do as an online merchant. Get it right and you create a frictionless checkout experience. But get it wrong and your cart abandonment rates will soar. Payflex allows you to increase your sales by 30% while at the same time rescuing your customers from any incurred debt. That’s why Payflex is the ultimate Payment Solution for your online store.
Win-win Payment Solutions
A payment solution should work for you as well as your customers. It needs to ensure a win-win situation for all that encourages long term relationships and returning customers. Therefore, we’ve compiled some comparisons to traditional payment gateways that we think make for interesting reading. If nothing, we hope to at least expand your choices by introducing you to the global phenomenon that is the Buy Now, Pay Later (BNPL) movement.
The Freedom To Shop Anytime
Most traditional payment methods dictate that if your customer doesn’t have the cash to shop than too bad, a purchase cannot be made. This leaves online stores in a dry state in the middle of the month once everyone’s bills are paid and people go back to “broke” status. However, Payflex allows a customer to make a purchase and pay for it in 4 instalments, interest-free. Somewhere in between those payments are a payday making the solution a freeing, responsible way to keep shopping even in the driest days of the month.
No Red Tape to Apply
The Payflex application process can be completed in seconds and requires no onerous and cumbersome paperwork. It’s a simple click-through sign-on process with zero bureaucracy and no red tape. In contrast, it takes very long to apply for credit and the documentation required complex and burdensome. Ultimately, using payment solutions with no barrier to entry will increase your customer base considerably.
Two words: Interest. Free.
The interest rates of credit facilities can be in excess of 20%. Consequently, this makes the shopper’s purchase and relationship with the merchant very short-lived. Paying off interest is undoubtedly costly and stressful and while it offers a short-term solution to instant gratification, the journey gets harder down the line. Payflex provides a solution to your shopper that allows them to scratch that instant gratification itch without the risk, without the hidden fees and without the debt.
The Power of Choice
With Payflex, your shopper can choose the pay later solution if it’s needed or they can pay in full and have the same streamlined experience using Payflex. Traditional payment solutions provide no flexibility for this. You have to pay in full now or abandon the cart. And any cart abandonment for any reason is a travesty.
Concluding Why Payflex is the Ultimate Payment Solution For Your Online Store
Payflex is an innovative solution that is working to solve South Africa’s current debt crisis while providing consumers with a responsible way of paying, it’s really no surprise that the results for you as a merchant is a 30% increase in sales and an over 70% increase in average order values. The questions is, how could you have you read this far without signing up yet?