Increase Sales with the Payflex eCommerce Payment Gateway
How can Payflex help you increase sales?
Online shopping is still in its infancy in South Africa, but every day more and more customers are trying their hand at buying online. From clothes to accessories, electronics to furniture, everyone’s getting in on the online shopping game.
But there are no doubt retailers have to work hard to win over customers. In tough economic times, merchants need to do everything they can to get their customers to buy, buy, buy. So if you’re an online retailer looking for a way to increase your online sales, here’s something you have to try… introducing Payflex. Payflex is an innovative payment gateway that can help you increase your sales by as much as 30%!
How does the Payflex payment gateway work?
Payflex splits the cost of a purchase up into four equal, interest- and fee-free payments. The first payment (25% of the value) is paid upfront. The rest of the payments are made every 2 weeks for the next six weeks.
The customer receives their purchase after their first payment – so they don’t have to wait to receive their goods. You, as the merchant, don’t have to chase sales or ensure the customer pays – Payflex handles all of that for you. You will receive the money for the sale (less Payflex’s small commission) straight after the sale, so you don’t sit with the risk of non-payment.
How does Payflex encourage more spending and more sales?
More spending power
Payflex ensures customers have more spending power. So they are able to shop more and spend more. Responsibly. Customers feel more empowered to make a larger purchase because they know they only need to pay 25% upfront.
Customers love the idea of a payment holiday or stretching out their payment over a longer period of time. The payment period of 6 weeks covers a second payday. So if customers are feeling a little pressured this month, they know they will only have to finish paying for their purchases after a second payday.
Payflex has also created a beautifully simple checkout process. When using Payflex for the first time, customers fill in a quick and simple form and are then vetted in seconds. Once their first set-up is complete, the checkout process becomes so much simpler! Customers can literally pay in just one click. This simple checkout process has also been shown to greatly increase sales.
Lower cart abandonment
In markets that have introduced a similar payment solution to Payflex, online merchants have seen a dramatic increase in sales. They have found that customers are much less likely to abandon goods in their basket – this often happens when customers are a little unsure of whether or not to make the purchase and end up navigating away from the site before completing the transaction. By adding in an option to buy now, pay later, customers are much more willing to complete their sales.
Larger basket sizes
Merchants also found that customers will increase the size of their basket, buying more than they would have previously. Because customers have additional buying power, they are more likely to add extras that they might not have before.
Boost eCommerce sales
The ‘Shop now, pay later’ model has been shown to increase sales by as much as 30%, so you need to consider the benefits of adding a Payflex option to your store.
Built with Millennials in mind.
Millennials are tired of the credit trap… working to pay off your credit card and your personal loans. The millennial mindset is moving away from traditional credit products. They are very wary of taking on too much debt and getting bogged down by interest payments and fees. That’s why Payflex is the perfect solution for the millennial market – it puts them back in control of their spending and gives them a way to use credit that won’t land them in hot water.
How can you boost eCommerce sales with a payment gateway?
If you’re looking for an easy way to increase sales in your online store, Payflex offers an elegant solution. The Payflex payment gateway empowers customers to buy more by spreading out their payments over 6 weeks – no interest, no fees, no catch. Improve your online sales – get in touch with us today.
Sign up for Payflex
Contact Payflex to open a merchant account and start using as a payment gateway for your online store.