Installment Payments: All Pros Can Offer Them with Payment Links
Payment in installments has become a real essential in commerce, whether online or offline. The split payment market is expected to reach $250 billion globally. Offering this payment method can, however, prove complicated for many professionals, but the good news is that with payment links, offering payment facilities to your customers can be done in just a few clicks.
Payment in installments is popular with consumers
Payment in installments is very popular both because of practical and economic aspects.
A study carried out by Kantar for Floa Bank dating from 2022 shows that 37% of French people have already used it, and the growth of the payment in installments market is 20% to 40% each year, and 38% of consumers verify that the option of paying in installments is available before you start shopping.
From an economic point of view, 40% of households use payment in installments to deal with an unforeseen event, while 32% will choose this payment option in an approach centered on pleasure and the desire to do so. acquisition of a good or service, which they can more easily finance.
And against all expectations, it is not transactions worth several thousand euros that justify the use of payment in installments, with 62% of payments in installments for purchases of an amount less than €500 and 15% payments in several installments for purchases exceeding €1000.
Offering this payment method is therefore essential.
Payment in installments directly integrated into payment links
A payment link is a link that will redirect a buyer to a dedicated payment page.
This payment link may offer various payment methods, including payment in installments and deferred payment.
The advantage is that these payments are secure and guaranteed, and that the seller is paid in one go for his sale, and that his customer will be automatically debited monthly directly to his bank card following the defined repayment schedule.
This integration of installment payments into the payment link allows you to take full advantage of this functionality, with ease :
Increased sales : Offering a wide choice of payment methods and payment facilities will remove the obstacles to customer purchasing. By removing this brake, a professional will automatically be able to increase their number of sales and therefore conversions.
Increase in the average basket : Being able to finance their purchases will lead the customer to make purchases of a larger amount and/or to purchase additional products or services.
Increased loyalty : Payment in installments is more than a lever to convert more, it is also an amplifier for a good user experience, which will encourage the customer to come back for future purchases.
How to easily offer payment links that integrate payment in several installments?
As a professional, you want to offer maximum services to your clients, but also reduce your management costs in terms of time and money.
Obvy payment links are therefore a perfect alternative, which will not only allow you to offer your customers numerous payment services (payment by credit card, bank transfer), delivery (Mondial Relay, Chronopost, Colissimo, etc.), as well as promotional services (promo codes, commercial gestures, etc.) and of course payment facilities with payment by credit card in 3 installments, 4 installments, 10 installments, and even deferred.
Obvy payment links are fully configurable and customizable, and allow all professionals and all businesses to create links in their image, with numerous services that will transform prospects into customers much more quickly, while increasing the loyalty of the latter.
In addition, when financing is granted, it is guaranteed! The buyer will pay for their purchase in several installments but the professional will receive the entire amount in one go and irrevocably.
Payment in installments and deferred payment are offered in Obvy payment links in partnership with Floa, a financing organization attached to the BNP Paribas group.