What do you think about buy now pay later?
- Thread starter Enxx
- Start date
I actually do not really like this method a lot. This is because, you get charged interest on the instalments usually, which is hell to live with.
- Thread starter
- #65
Like you said that it is a good idea. But I can say that many people don't pay back and when they don't pay back, how will they profit from the business?
I have had some experience on this aspect before, even customers you think you can trust can easily betray you. This is someone i have been doing jobs for, out of trust i usually give him his products then he pays later but this time i gave him as usually he did not contact me, he stopped giving me jobs and does not even reply my messages.
Even though I have never used buy now pay later, there are some disadvantages if you often use paylater, such as: you will get used to debt, and you will be more consumptive, the risk of data security (ID card) is not guaranteed, if you are late paying then telephone terror will never stop either in the office or private telephone.
It is a modern business strategy that is very wonderful but I prefer cash and carry. Easy buy strategy is good for working class and people that receive monthly payments.
I am of the opinion that what you cannot afford for now, just relax till you can afford it. I don't believe in incurring liabilities.
I think that it would be a great thing. This kind of service is offered by many payment processors as well, including PayPal. I think this facilitates customers a lot.
The principle objective behind this policy is make available certain products in such a flexible payments method to the general public. This is a marketing strategy.
- Thread starter
- #72
I have not seen this with PayPal. How is the service called in PayPal
It is becoming very popular in my locality and so many people are patronizing them because it makes things much more easier for people to buy.
Same here. I do not like owing money to anybody. I want to pay for everything I buy.
Buy Now Pay Later is great to have for your business. So many people often do not always have the money in full to buy something and being able to pay it off would be a better option for them. If you as a business can offer this service it opens up the possibility for you to be able to increase your customers. The only downside to something like this is getting customers who will take the buy now pay later option and then not pay. It has happened to many businesses in the past and it's something you need to prepare yourself for.
As far as I know paylater is a payment method in shopping, where buyers can buy goods on credit. But I never use it, because I don't like to be in debt, I'd rather save before buying the things I want.
