What features should I look for in a Buy Now Pay Later platform?
Right now in Australia there are plenty of Buy Now Pay Later (BNPL) platforms available, from services like Afterpay, Zip, Humm and Klarna to specialised options such as BrightePay. But when it comes to choosing the right BNPL, what features should you look for? What sets each platform apart? Well, it all depends on what you value and how you intend to spend. According to Mozo’s 2021 Buy Now Pay Later Report, there are a bunch of features BNPL users deem as important. For example, 46% of BNPL customers say that the ease of using the platform is the most important feature. Meanwhile, 44% value no account keeping fees, 42% prioritise the amount of repayments purchases are split into and 40% consider the availability of certain BNPL platforms in stores. “It makes sense that Buy Now Pay Later customers consider things like ease of use, fees, repayments and availability in stores before signing up with a particular platform,” Mozo spokesperson, Tom Godfrey says. “But it doesn’t stop there. Mozo’s research found that Aussie shoppers are also weighing up things like spending limits, the returns process and whether or not they are charged anything on the spot when making a purchase using Buy Now Pay Later.” With that in mind, take a look at our full rundown of what the stats showed about how customers value BNPL features …Read More