enough good incentives to retail keep customers interested , without resorting to irresponsible lending .
Reports show that flexible payments offered by BNPL services do reduce cart abandonment rates . They can also encourage shoppers to increase the size of their purchases . What ’ s more , when ecommerce stores provide BNPL service at their checkouts , they can also expect an increase in their average order values ( AOV ), which is one of the best ways to generate more income .
But , how can these benefits be balanced out in terms of good lending practices ?
Nooriala says regulating the space will be the key to better services and a healthier outcome for customers . “ The new regulations announced by the UK government will better protect millions of consumers through the strengthened regulation of interest-free BNPL credit arrangements , and that should be
“B2B BNPL IS ABSOLUTELY THRIVING AS COMPANIES OF ALL SIZES LEARN ABOUT WAYS IN WHICH THEY CAN IMPROVE THEIR BUSINESS OPERATIONS THROUGH EMBEDDED FINANCE TOOLS ”
CHRIS TSAI CEO , RESOLVE
80 March 2023