If your business is online and you sell your products or services primarily through e-commerce ! a large portion of your target audience is likely made up of Millennials and Centennials .

These are two generations accustomed to shopping online! who manage their finances and purchases in a radically different way than those of Generation X and who find themselves having to deal with socio-economic conditions that are not always favorable.

On the one hand! in fact! we have on our hands two generations that can benefit from multiple tools that favor smart and online purchases ! such as prepaid cards! mobile applications for digital payments or 100% online bank accounts; on the other hand! we find ourselves offering services and products to potential buyers who experience the economy and finances in a fluid and flexible way.

To speak the economic language of these two generations and obtain numerous transactions from them as well! it is essential that online retailers offer Millennials and Centennials the purchasing and payment options they desire.

Like! for example! online installment payments. In today’s article we will examine the best and most popular installment payment systems for e-commerce in Italy.

What are online installment payments?

“ Pay Later!” sometimes called “Buy Now! Pay Later! ” is a payment solution that allows customers to choose a financing plan and pay in installments instead of having to pay the full cost of the product or service at the time of purchase.

This dynamic applies offline as well zalo database as! of course! in the world of online shopping.

Financial technology ( or “fintech”) has emerged with force in recent years! attempting to address the weaknesses of this payment system! particularly its bureaucratic complexity! high credit card fees! and unfavorable interest rates.

Today ‘s online Fintech solutions ! such as “Pay Later” and online installment payment systems ! allow users to purchase their favorite products online and pay in a predetermined number of installments! over a defined period of time.

These solutions are often offered to david dodge customers without adding any interest (or with extremely low interest).

How do online installment payments work?

To go into detail about online installment payment systems ! we will use the example of Klarna ! one of the best-known and most used platforms for standardizing the “ Pay Later” system .

At checkout! shoppers using Klarna have the option to receive their product immediately and pay for it:

• in full after a period of 30 days;
• in smaller installments ! spaced 30 days apart.

The option to pay after delivery! after 30 days from purchase! is not yet active in Italy. The installment payment is available and is divided into three equidistant installments ! spaced 30 days apart! 

In any case! there are no additional mobile list costs or interest to pay ! provided that all installments are paid within the established times.

Online merchants who wish to use Klarna’s services pay the platform a commission of 2–6% ! plus a fixed fee for each transaction.