Online Instalment Payment System Can Easily Boost Your Sales
When customers need essential items, installment payments can help businesses boost sales. For retail stores, online shops, and health or beauty clinics, offering installment options can enhance promotional efforts and encourage purchases. This article introduces the online installment payment system and its benefits.
0% Instalments for Big Purchases: For the “Must-Have” Shopper
0% instalment plans make it easier for customers to buy high-value items without the stress of a big upfront payment. This option is especially appealing to those who:
1. Want to Stay on Trend:
Whether it’s the latest in fashion, tech, or cars, customers can enjoy popular products now and pay over time.
2. Need an Urgent Replacement:
For essential items, like a broken appliance, instalments allow immediate purchase without the burden of a large payment.
3. Want to Build Credit:
Instalments also help customers strengthen their credit history, supporting future goals like buying a home or car.
A study from MIT, published by Kluwer Academic Publishers, concluded that “paying with a credit card is more convenient as it eliminates the need to carry cash, making the spending feel less painful, especially when items come with instalment options. The ability to pay in 0% installments makes the purchase decision even easier.”
Having an Instalment Payment System Caters to Credit Card Users and Encourages Purchase Decisions
This research highlights that many people prefer card payments over cash, and there is a long-standing habit of instalment purchases among Thai consumers. Offering 0% instalment plans for up to 10 months further incentivizes purchases by making products and services appear more affordable and accessible. This method is a powerful tool for merchants with an online instalment payment system, as it significantly boosts sales.
Offering online instalment payments broadens payment options for businesses both online and in-store, allowing customers to pay in smaller amounts over time. This strategy delivers several benefits:
· Mutual Gains: Businesses can increase sales on high-value items, while customers enjoy manageable monthly payments, creating a win-win for both.
· Easier Decision-Making: Instalments make it simpler for customers to plan their finances, enabling quicker access to products without straining their budget.
· Increased Sales: Lowering the upfront cost encourages more purchases, helping businesses increase sales and attract more customers.
· Valuable Data for Promotions: Transaction data from instalments can be used to create targeted promotions, allowing businesses to collaborate with banks or create special offers to drive even more sales.
GHL's e-Commerce Payment Gateway: Empowering Your Business with Flexible Payment Solutions to Drive Sales and Maximize Profit
· Easy, simple integration with all major online platforms
· Supports various payment channels: credit cards, online banking, e-wallets, or different counter services
· Real-time data tracking
· Special interest rates
· 24/7 customer support for inquiries or issues
· Compliance with PCI DSS Level 1, the highest security standard for payment systems