Buy Now, Pay Late - A New Face of eCommerce?

Maulik Shah22 Oct, 2020Business

Mark is a proud owner of a flourishing online jewelry store. Like other store owners, he faced a slump at the beginning of the pandemic. Customers had to prepare for rainier days. They would obviously not make extravagant purchases like an earring. Mark thought about this and came up with an idea. Instead of selling an item for let�s say $540, he, by adopting the buy now, pay later strategy, started selling it in two payments of $270. Customers, instead of paying at once, can pay weekly, monthly, or even yearly. Works well for both parties.