Instalment payments present a clear benefit to consumers and by offering another attractive payment option that gives consumers the option to defer full repayment, retailers see a positive impact on their conversion rate. Furthermore, instalment payments also drive basket size with a minimum increase of 11%, according to research from Quellen. Little to no risk for the retailer and increased sale. That’s a win-win.

White label solutions enable merchants to maintain full control over the appearance and user journey at the checkout and beyond, throughout the instalment experience. This includes customer communications, the consumer portal and the instore application. Partnering with a service provider that specialises in this level of personalisation gives businesses the benefits of adopting a best-in-class solution but also the continuity benefits of building their own offering. This includes the dunning process, by which businesses correspond with their customers to manage collections on outstanding accounts and notify them when a due payment hasn’t been completed.

The instalment application is in the hands of customers, who enter their personal data online, reducing resources from the retailer. After a quick, secure credit check, they receive a code to show at checkout as payment confirmation. There is no risk for the merchant as Paysafe assumes the payment guarantee after a successful credit check. Merchants can integrate the service into their sales and payment processes and customers benefit from privacy, discretion and control over their application.

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