Paying in instalments offers flexibility, convenience, safety, and trust.
The growth of this payment option is primarily driven by Millennial and Gen Z consumers. Paying in instalments is popular among these demographics, as it makes larger (and sometimes necessary) purchases more easily accessible.
Ordering through instalment payment methods, such as Klarna, often requires just a single click. Customers no longer need to fill out extensive information during the checkout process.
Consumers perceive the concept of 'shop now, pay later' as highly secure. Payments are completed in instalments after the receipt of the order, ensuring that customers pay for what they actually receive.
Well-known instalment payment methods add a sense of trust during the shopping process due to their familiarity. In fact, they serve as a conversion-boosting tool. By offering payments in instalments, you can attract new customers to your webshop or physical store.