Cart abandonment costs businesses billions annually. Learn how Buy Now Pay Later eliminates the most common reasons customers abandon their purchases.
Studies show that nearly 70% of online shopping carts are abandoned before checkout completion. For in-person and service-based businesses, the abandonment rate can be even higher when customers face unexpected costs.
Customers are shocked by the final price and can't afford to pay all at once.
How BNPL Helps: BNPL breaks the cost into smaller, manageable payments. Instead of $1,200 today, customers see 4 payments of $300.
Limited payment options force customers to use methods they don't prefer or trust.
How BNPL Helps: BNPL providers like Klarna, Afterpay, and Affirm are trusted brands customers already know and use.
Customers want to think about large purchases but fear missing out or forgetting to complete the transaction.
How BNPL Helps: BNPL removes the urgency - customers can secure the product now and have time to pay, reducing decision anxiety.
Lengthy forms and complicated payment steps cause friction and frustration.
How BNPL Helps: BNPL providers have streamlined, mobile-first checkout flows. Most customers complete purchase in under 2 minutes.
By displaying the payment in installments upfront, customers see a more manageable price point immediately. A $2,000 service becomes '4 payments of $500' - much less intimidating.
Most BNPL providers approve customers in seconds with a soft credit check. No waiting, no uncertainty - customers know immediately if they qualify.
Customers choose plans that work for their budget - weekly, bi-weekly, or monthly payments. They're in control of their payment schedule.
BNPL clearly shows all costs upfront. No hidden fees, no surprises. Customers know exactly what they'll pay and when.
BNPL providers invest heavily in seamless mobile experiences. Checkout works perfectly on any device, reducing friction.
Businesses across industries report significant improvements when offering BNPL:
Display BNPL options prominently on product pages and at checkout
Show the installment amount, not just the full price
Offer multiple BNPL providers to maximize approval rates
Make the checkout process as simple as possible - fewer steps mean fewer drop-offs
Use QR codes for in-person sales to enable instant mobile checkout
Send abandoned cart reminders highlighting BNPL availability