Cashfree Payments launches flexible payment option ‘BNPL Plus’
By Gloria Mathias
Cashfree Payments, a payments and API banking company, has announced the launch of ‘BNPL Plus’, which enables businesses to increase the visibility of affordable and flexible payment options to its customers.
With BNPL Plus, customers can easily view payment options like EMI, Pay Later and other attractive offers on the product display page of D2C brands (direct-to-consumer). By integrating this no-code widget, businesses can reduce customer drop-offs and increase conversion rates.
BNPL Plus integrates with business websites and brand-hosted platforms like WooCommerce and Shopify. With its integration, BNPL Plus uses intelligent personalisation to automatically show customers the most attractive offers and no-cost EMI options. It leverages Cashfree Payment’s BNPL suite, which offers 36 different EMI and Pay Later choices.
Akash Sinha, CEO and Co-Founder, Cashfree Payments said, “We are excited to introduce BNPL Plus, a solution that enhances India’s digital shopping experience and unlocks greater value for D2C businesses. In a competitive market, Indian sellers require extensive tools and a seamless customer journey to support their high-quality products.
“BNPL Plus tackles the issue of large upfront payments for customers, a concern that often leads to cart abandonment. This widespread issue results in businesses losing over 30% in annual sales revenue. BNPL Plus revolutionises the discovery and offering of affordable payment options, creating a seamless and successful online shopping experience,” added Sinha.
Cashfree Payments ensures BNPL Plus can increase the average order value up to 40%, demonstrating how affordable payment options positively influence customer spending. It can reduce customer drop-offs by up to 30% and promotes repeat purchases by highlighting the best offers, discounts, and cashback incentives, fostering customer loyalty.
The company seeks to cater to a wide range of D2C businesses, including ecommerce, ed-tech, travel, and hospitality, showcasing its versatility and broad applicability. With BNPL Plus, Cashfree payments aim to revolutionise the discovery and offering of affordable payment options to customers.
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