How split payment and pay later app in Installments Applications Have Risen to Provide a Seamless Customer Experience?

The Enterprise World Magazine
6 min readMar 24, 2023

A split payment or payment in installments is a type of transaction in which several payment options are used to complete a single transaction. For instance, it’s typical to split a bill between two persons using various credit cards.

In recent years, the rise of payment in installments and pay later apps has revolutionized the way we pay for goods and services. These apps allow users to split the cost of purchases with friends or pay later, giving them greater flexibility and control over their finances.

Here are some of the advantages of using a split payment and pay later app;

1. Convenience

Split payment and pay later apps are incredibly convenient for users. They allow you to split the cost of purchases with friends in real-time and pay for them with just a few taps on your phone. Additionally, pay later options mean that you can make purchases even if you don’t have the funds available at that moment. This convenience makes shopping easier and more accessible for everyone.

2. Flexibility

One of the biggest advantages of pay later and payment in installments apps like FLOA Pay is the flexibility they offer. With the ability to pay for purchases over time, you can make bigger purchases that might have been out of reach otherwise. This can be particularly helpful for unexpected expenses that you might not have been prepared for.

3. Budgeting

Split payment and pay later apps can also help you with budgeting. With the ability to pay later, you can make purchases that might have otherwise thrown your budget off course. This allows you to plan your spending more effectively and make smarter financial decisions.

4. Rewards

Some split payment and pay later apps offer rewards programs that incentivize users to use the app more frequently. These rewards can come in the form of cashback, discounts, or other perks that make using the app even more beneficial. This can be a great way to save money and get more out of your purchases.

5. Security

Split payment and pay later apps are also generally quite secure. Many of these apps use encryption and other security measures to protect users’ financial information. This means that you can make purchases with confidence, knowing that your personal and financial data is safe.

6. Transparency

Finally, split payment and pay later apps offer greater transparency and visibility into your finances. With detailed transaction histories and real-time updates on your payments, you can keep track of your spending more easily and make sure that everything is in order. This can be particularly helpful for those who struggle with managing their finances.

In conclusion, split payment and pay later apps offer a range of advantages for users. With convenience, flexibility, rewards, security, and transparency, these apps can help you shop smarter and manage your finances more effectively. If you’re looking for a way to simplify your shopping experience and take control of your spending, a split payment or pay later app may be just what you need.

How Split Payment and Pay Later Apps Can Benefit You as a Customer?

With the gift of choice, it also allows the merchants to retain existing customers and recruit new ones.

  • Dedicated Customer Service

Customer support is available for you and your customers.

  • Your Clients Pay Later, You Get Paid Instantly

Full payment guaranteed in the event of defaulted payments

  • Seamless Customer Experience

Innovative and fluid UX recognized by CX Awards, Gold Winners

  • A Space Dedicated To Your Customer

To view your payment schedule, resolve an issue.

  • Solutions Adapted To Each Channel

E-commerce, brick-and-mortar shop, or call center…as simple as a cash payment.

  • Unique Features Adapted To The Market

Pre-score based on the customer profile, a financing method suited to your business model.

69% of European consumers are prepared to switch brands to access Buy Now Pay Later solutions.

Split payment and Buy Now Pay Later solutions

  • Payments in 3 instalments
  • For multi-product baskets between €50 and €6,000
  • Whether online or in store, your customers can pay in instalments
  • 100% digitalized products
  • No supporting documents required for payment in 3 instalments: your customers can use the service right away
  • Monthly payments by bank card direct debit

Pay Later

  • For multi-product baskets, valued between €30 to €1,000
  • Whether online or in store, your customers can buy now and pay later.
  • 100% digitalized products
  • In case of an incident, you are fully reimbursed.
  • Paid by bank card direct debit

How Split Payment and Pay Later Apps Can Benefit You as a Merchant?

Pay later and split payment apps have become increasingly popular among consumers in recent years, providing them with greater flexibility and control over their finances. However, these apps also offer a range of benefits for merchants, helping them to grow their business and increase sales. Here are some of the ways that pay later and split payment apps can benefit merchants.

1. Increased Sales

One of the primary benefits of pay later and split payment apps for merchants is that they can help increase sales. By offering consumers the option to pay later or split their payments, merchants can make their products and services more affordable and accessible. This can be particularly helpful for higher-priced items that consumers might not be able to afford outright.

2. Improved Cash Flow

Pay later and split payment apps can also help improve cash flow for merchants. With the ability to receive payment for goods and services immediately, merchants can avoid the delays associated with traditional payment methods, such as checks or bank transfers. This can help them to better manage their finances and invest in the growth of their business.

3. Reduced Risk

Pay later and split payment apps can also reduce the risk of fraud and chargebacks for merchants. With built-in fraud protection and secure payment processing, these apps can help protect merchants from losses due to fraudulent activity or disputes over transactions. This can help merchants to focus on growing their business, rather than worrying about the security of their transactions.

4. Increased Customer Loyalty

By offering pay later and split payment options, merchants can also increase customer loyalty. Consumers are more likely to return to a merchant that offers flexible payment options that fit their financial situation. This can help merchants to build a loyal customer base that will continue to support their business over time.

5. Access to New Customers

Pay later and split payment apps can also help merchants to reach new customers who might not have otherwise made a purchase. By offering more flexible payment options, merchants can attract customers who might not have had the funds available to make a purchase in the past. This can help merchants to expand their customer base and grow their business.

In conclusion, pay later and split payment apps can provide a range of benefits for merchants, from increased sales and improved cash flow to reduced risk and increased customer loyalty. As these apps continue to gain popularity among consumers, merchants who offer them will be better positioned to compete in the market and grow their business. If you’re a merchant looking to boost your sales and reach new customers, consider offering pay later and split payment options to your customers.

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The Enterprise World Magazine

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