What is BNPL: fast payments in today's world
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BNPL is so popular that it can be called a new payment method on par with a card or cash. It is not a traditional POS loan - that is, a loan from a bank for a product at a point of sale or online shop. BNPL is based on a new approach to customer assessment, where a decision is made in seconds on the basis of name and phone number information.
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"Buy now, pay later" is an app that allows users to buy any product they want and pay the cost in instalments that do not include interest. It can seem like a credit card with no interest. The user can scan and pay for the product. The amount is transferred to a business account from the app and the user later pays the amount at a certain interval in the app. It provides a secure payment mechanism without any transaction failures.
So, if you are an entrepreneur burning with a thirst for success, the Buy Now, Pay Later app is your ride, and you create it yourself. -
When it comes to the process of choosing a financial platform, the first thing you should know before you start using it is what your needs are and what business problems you would like to solve.
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Hello. To help your customers manage their finances and get the product they want on credit, you can use a versatile finance platform with a wide range of features https://www.taryafintech.com/solutions/embedded-finance-bnpl/ where you can buy now and pay later.
Borrowers, use the finance platform because their products offer competitive rates, low down payment options, member privileges and access to multi-channel customer support. Which many customers love.