Deferred payments are a convenient form of financing purchases for many people. You can not only pay later for the purchased products, but also check the quality of the goods before paying. This form is eagerly used by young people, promotion hunters and customers of online stores. Many of them give up shopping if they have to pay for it immediately. However, not all customers repay their debts on time.
Mrs. Anna has been shopping using deferred payments for two years. Every evening, he browses the offers of online stores, compares prices, and when he comes across a promotion, sale or discount, he quickly makes purchases. – I place an order, mark later payment and buy – says. – This solution has another important advantage for me. I don’t have to worry about the available funds in my account when making purchases. I will pay when I receive my salary from my employer – he adds.
Deferred payment. Customers praise this form of shopping
Her sister Elżbieta, who most often buys clothes using this form of payment, speaks in a similar tone. – First, I control my expenses, even if I don’t have money in my account. Secondly, I don’t have to worry about unsuccessful purchases – he says.
– I receive the order and check whether everything is consistent with the offer. If a product does not meet my expectations, I return it and I do not have to wait for the store to refund the amount I previously paid. – he points out. The woman admits that she has already given up on purchases several times when she was unable to pay for them at a later date.
Shopping with deferred payment. Only BLIK is more popular
“This form of shopping is becoming a standard for many people,” experts say. The latest report published by PayPo shows that 65 percent customers choose deferred payments. “This is the second most frequently chosen method of paying for purchases” – we read.
The most frequently chosen solution is currently BLIK, used by 71%. buyers. The next place is taken by quick transfers (such as payment gateways), chosen by 44%. customers. Other forms of payment for purchases lose out to innovative solutions. Only a few percent of respondents admitted that they use online transfers, installment payments or cash on delivery.
Customers give up shopping if they have to pay immediately
According to the authors of the study, almost 70 percent respondents admitted that they had abandoned a shopping cart if the BNPL (Buy now, pay later) option was not available. For many respondents (45%), this situation happened several times. For the youngest group of consumers, deferred payment has become the default form of shopping. According to the report, almost three quarters (74%) of people surveyed aged 18-24 use it.
Many Internet users on social media admit that deferred payments are a convenient payment method that works well in the case of unplanned expenses. The study shows that almost two-thirds of people using BNPL confirm that this payment method helps them manage their monthly household budget. “Thanks to it, they can extend the payment over time and choose the best moment to pay for the order, e.g. after the next payment” – argue the authors of the study.
This form of payment is a loan in a different form. Not everyone pays their debts on time
Experts argue that deferred payments, like other expenses, should be constantly under control. – Most of us like to do shopping, but not everyone is able to settle their obligations on time. This is a loan in a slightly different form that will have to be repaid sooner or later – they add.
Most people have no problems with this, but a significant number of them cannot pay all the fees on time. As much as 63 percent respondents repay their purchases in full within the first month. Every fourth buyer (25%) decides to partially repay the loan in the first month and pay the remaining amount in installments. Every fourteenth customer who uses deferred payments repays their debts in installments. “Most of these people know when placing the order that they will pay for it in installments” – we read in the report.