Advantages and disadvantages of credit purchases
Posted: Mon Jan 06, 2025 8:31 am
Now that you know how credit purchases work , let's review the main advantages and disadvantages of credit purchases for businesses that you should consider if you want to implement them.
Advantages of credit purchases
They generate a higher average ticket.
Payment methods are increasing in your store.
Increase your customers' satisfaction.
They generate a higher average ticket
One of the main advantages of credit purchases in your online business is that it increases the value of your store's average ticket .
A clear example of this is that in hypermarkets and supermarkets in Latin America, payment by debit or credit card allows for an average ticket 50% higher than cash purchases, according to the Kantar report .
This means that if a customer pays for phone database something in your store with credit, they will buy more compared to others who use cash.
Payment methods are increasing in your store
By allowing and offering credit purchases , in its different forms, either by credit card or under the Buy Now Pay Later scheme , you expand the range of ways in which your customers can make purchases in your store and you adapt to their needs.
Additionally, if you combine this payment method with others such as QR payments , you will give them more opportunities to purchase a product from your business.
Increase your customers' satisfaction
An important advantage of accepting credit purchases is that it increases the satisfaction of customers who seek this payment option, since they are used to using it every day. And if they come across a store that does not allow it, they will feel frustrated and probably will not make a purchase.
Advantages of credit purchases
They generate a higher average ticket.
Payment methods are increasing in your store.
Increase your customers' satisfaction.
They generate a higher average ticket
One of the main advantages of credit purchases in your online business is that it increases the value of your store's average ticket .
A clear example of this is that in hypermarkets and supermarkets in Latin America, payment by debit or credit card allows for an average ticket 50% higher than cash purchases, according to the Kantar report .
This means that if a customer pays for phone database something in your store with credit, they will buy more compared to others who use cash.
Payment methods are increasing in your store
By allowing and offering credit purchases , in its different forms, either by credit card or under the Buy Now Pay Later scheme , you expand the range of ways in which your customers can make purchases in your store and you adapt to their needs.
Additionally, if you combine this payment method with others such as QR payments , you will give them more opportunities to purchase a product from your business.
Increase your customers' satisfaction
An important advantage of accepting credit purchases is that it increases the satisfaction of customers who seek this payment option, since they are used to using it every day. And if they come across a store that does not allow it, they will feel frustrated and probably will not make a purchase.