There is a new system with a couple of companies currently available. It allows someone to buy products by proxy, through a company who actually pays for it immediately so the seller is compensated, products they may use immediately as though they themselves had paid for it, and then pay the proxy back slowly over time without interest. It seems to be a rapidly growing market that has a lot of possibilities. Point of Sale software lets people use one of the mentioned companies, Afterpay, which has the longest pay-back period of time.
Key Takeaways:
- Online money exchanges now offer payment plans instead of payment at purchase.
- This offering has doubled the amount of money spent with Afterpay.
- Customers have a specified amount of time to pay off the purchase, with less interest than traditional credit cards.
“The big trend in retail now, are the newer cards that allows a customer to buy and use a product immediately, and then pay for it later with no interest.”
Read more: https://www.possolutions.com.au/blog/our-rapidly-growing-buy-now-pay-later-market
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