In this episode of Retail Right Now, Total Retail's Ashley Chiaradio and Kristina Stidham discuss an article recently published on Total Retail titled, “Buy Now, Pay Later: What to Consider Before Making the Investment,” authored by Eric Christensen, chief payment officer and vice president of product at Digital River. The article discusses the diversification of payment methods as a rising trend in e-commerce. One payment method experiencing tremendous growth in customer adoption is buy now, pay later (BNPL), an option that allows consumers to pay for goods and services in installments over time, often without interest.
This popular checkout feature among consumers also provides many benefits for the retailer. However, while there are more customers looking for BNPL, merchants must carefully consider the benefits and risks of implementing this payment option before adding it to their online stores. To read Christensen’s full article on BNPL, click here.