Buy Now Pay Later has integrated into the financial industry faster than you can imagine. As one of the most popular means of alternative credit options, its current market size is 614.6 billion USD in 2022 globally. And the exciting part? It is expected to grow to 2,341.1 billion USD by 2028. But why is BNPL so popular? Because it enables borrowers to make payments right away, reduces their financial burden and provides easy repayment options and hassle-free transactions.
Hence, for you to thrive in this immensely growing and competitive market, you need a technology that simplifies easy access to credit, smart & real-time onboarding, quick decision-making, and gives you the ability to easily evolve into the new-age financial institution.
With CloudBankin, innovate in your own time and on your own terms. Benefit now by grabbing this opportunity and tap into extending credit directly to various categories of businesses and borrowers through Buy Now Pay Later.
Are you ready to embrace the future mode of credit? Get started with CloudBankin’s BNPL solution and provide a hassle-free purchase option to your borrowers!
What’s in it for you? Take full advantage of CloudBankin’s BNPL software with
With CloudBankin, easily upgrade into the fast-evolving world of Buy Now Pay Later and launch into the market within weeks! Get in touch with us and start providing BNPL service to your borrowers!
The following are the benefits: 1. The fully customizable and configurable interface to enhance customer experience. 2. Simplify the origination process. 3. Built-in credit rule engine to make quick and correct credit decisions. 4. End-to-end automated approach to integrating many business use cases. 5. Send personalized alerts and messages. 6. Customised analytical reporting and dashboards for a 360-degree view of the business.
There are 3 flows in our BNPL software through which you can build your product. 1. In Purchase Flow, you have: a) Pay Later – You let customers order in one tap and repay the amount later. b) Pay in instalments – You let your customers pay in instalments in 1 month, quarterly, or half-yearly. c) If there is an overdue period, you add a default or late fee and repay back in instalments. 2. In Credit Card Flow, you have Postpaid, where you let customers repay at once or the minimum amount on the due date. 3. In Line of Credit Flow, you enable customers to make purchases by LOC on the amount, thereby reducing their credit limit.