Swipe4Free CFO Jennifer Vartanov gives expert opinion on “Buy Now, Pay Later” on Fox Business News.
Big time retailers like Wal Mart, Bed Bath & Beyond, Macy’s, Adidas, Walgreens and more are introducing a “Buy Now, Pay Later” payment program strategy to entice customers to return to their brick-and-mortar locations. Fox Business News reported on this new trend Monday September 27th on a segment featured on the Cavuto: Coast to Coast program.
“For the retailers they love it because it’s more sales for them and it’s a higher average ticket. People are willing to spend their money much more because of the simple and convenient way to pay at checkout. Consumers love it because it’s transparent. Retailers tell you in advance what the installment fees would be…it takes the anxiety out of buying certain things and using credit.” says Swipe4Free Chief Financial Officer Jennifer Vartanov.
The “Buy Now, Pay Later” program is a great alternative to traditional layaway services and has helped retailers who have already implemented this new program recover from financial losses and stresses caused by the COVID-19 pandemic.