How to use payments as a marketing tool

Offer pay-over-time financing to boost conversion and AOV "You might not view payments as a tool to drive revenue, but offering an easy way to pay over time is proven to turn more browsers into buyers. By including a flexible payment option, retailers can address the key reservation holding customers back from purchasing a big-ticket item: "how can I comfortably afford this?" Pay-over-time financing makes your items more accessible to customers, transforming a "later" purchase into a "today" purchase. The increased purchasing power also enables customers to spend more on the items they want and need. Friendly payment methods can deepen customer loyalty "While financing can make your items more budget-friendly, it's important to offer an option that's truly on the customer's side. People are shying away from traditional credit due to decades of compounding interest, hidden fees, and unclear terms," said Gish. As a result, Affirm's partners see sizable upticks in repeat purchasing." Creating a simpler, more streamlined mobile checkout experience can increase conversion among mobile users. This quick and easy process allows Affirm's mobile purchase rate to top the industry average," said Gish. Tweet

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1. Offer pay-over-time financing to boost conversion and AOV

“You might not view payments as a tool to drive revenue, but offering an easy way to pay over time is proven to turn more browsers into buyers. By including a flexible payment option, retailers can address the key reservation holding customers back from purchasing a big-ticket item: “how can I comfortably afford this?” Pay-over-time financing makes your items more accessible to customers, transforming a “later” purchase into a “today” purchase. The increased purchasing power also enables customers to spend more on the items they want and need. Retailers who give customers the ability to pay over time report significant lifts in both conversion rates and AOV,” said Carl Gish, CMO, Affirm.

2. Friendly payment methods can deepen customer loyalty

“While…

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