Why you need to offer finance in 2022
Offering finance to customers is no longer just for large national businesses. Oh no, those days are over. Why you need to offer finance in 2022 is very clear indeed. Offering finance, and customers expecting monthly payments as an available payment method is now the norm.
For an example of this all we have to do is look at E-Commerce stores, in particular clothing and luxury brands. Over the last few years our Swedish friends at Klarna have solidified this.
Almost every clothing site checkout page we land on now offers us the option to split our payments over a period of time, and still receive the goods immediately. We have, truly, entered the “By Now Pay Later Era!”
Whether financial uncertainty due to Covid has accelerated this or not, the truth of the matter is that the way in which the public want to pay for things has changed dramatically, and this is not pigeon holed to fancy clothes and handbags. A survey conducted in 2021 showed us that 42% of home improvements are now paid for using an alternative form of payment (other that cash or card)
The advent of the likes of Klarna and other finance providers operating in the retail space has proven that customers now expect monthly payments as a way to pay for anything nowadays. This means that when you send a quote to your customer they are now more likely to ask you if you offer monthly payment finance….
By using Credabill to send your quotes, you can ask your customers – “How would you like to pay? Cash, Card… or monthly payments?”
Credabill lets you get setup and offering monthly payment finance to your customers for their home improvements instantly. Find out more here