On July 22nd, Shopify declared it would join forces with a up and coming company known by the name Affirm in order to bring its purchase now, pay later financing alternative to Shopify platform users within the U.S. Starting sometime in the not so distant future, this team of organizations will offer the alternative payment method for Shopify vendors at no cost except for a small transaction fee.
The checkout process will be transformed by this partnership, your consumers will be given the choice to make four equivalent payments every other week. Customers will be given a more flexible payment option by this partnership. The program will be managed by Affirm which means payments will be handled by the third-party company through this partnership. This is great news for sellers because it means Affirm will compensate sellers at the time of purchase in full.
Due to this third party (Affirm) handling payments vendors will have the payments settled immediately, essentially taking no risks! There are no fines, assistance charges or late expenses tied to the use of Affirm less a minimal transaction fee. This means that you can boost your “impulse” purchases by taking advantage of this alternative payment option. By permitting clients to make portion-based payments on their purchases and pick a reimbursement calendar for Affirm there is almost no way you do not increase impulse purchases on your site!
A basic principle for eCommerce organizations is to make it simple and seamless for their clients to purchase from them. The option of paying in Installments enable eCommerce vendors to offer their clients a greater span of purchase options and adaptability, while conveying a consistent checkout experience to support your eCommerce sales and conversion rates! Taking advantage of these new payment options coupled with a great eCommerce platform build by Fowara will supercharge your sales and conversion rates with minimal effort on your part. Call us today and begin metamorphosizing your small business!