Citcon Unveils BNPL Option for eCommerce Clients

Citcon has teamed up with Cash App Pay and AfterPay to offer new payment options to eCommerce businesses.

“By leveraging both Cash App Pay and Afterpay’s popular “Buy Now, Pay Later” service, merchants will be able to deliver a streamlined experience that caters to modern consumer preferences for more payment options,” Citcon said in a news release Tuesday (Sept. 26).

The payments provider said the partnership lets merchants give shoppers the choice to pay with Cash App Pay or Afterpay’s installment plans through Citcon’s Payment Platform.

The company added that integrating Cash App into its gateway gives merchants the chance to reach “highly engaged” millennial and Generation Z consumers by offering flexible payment options.

PYMNTS Intelligence has pinpointed the popularity of buy now, pay later (BNPL) programs among younger shoppers. 

For example, “The Credit Economy: How Younger Consumers Make Credit Decisions,” a collaboration between PYMNTS and Sezzle, found that millennials have the highest rate of BNPL use for grocery and vehicle maintenance purchases, with shares of 15% and 6%, respectively. This age group also is most likely to have used BNPL to pay for education expenses. 

The study also found that Gen Z consumers primarily use BNPL for practical, smaller purchases, like clothing, which made up for 39% of BNPL use among this age group, followed by groceries and restaurant purchases. 

In addition, BNPL is becoming a dealbreaker for a substantial percentage of consumers, as noted here earlier this month. 

“As consumers become increasingly accustomed to convenient and flexible payment options, buy now, pay later (BNPL) as a payment method has gained significant popularity both among consumers who can spread retail purchases in several installments and merchants looking to prevent cart abandonment and sustain sales,” PYMNTS wrote.

In “The Credit Accessibility Series: BNPL’s Wide-Ranging Impact on Consumers and Merchants” report, PYMNTS Intelligence and Sezzle found that consumers place a premium on BNPL as a payment method, to the point that 43% BNPL users said they would forestall or cancel a purchase if a merchant did not provide offer that payment method.