Study Finds Offering Installment Payment Options Before Checkout Can Boost Conversion

Unpacking Merchant Strategies and Consumer Demand for Flexible Payment Plans

Merchants say 30% of consumers want to know their installment, pay later options before they buy, but very few merchants currently oblige. PYMNTS Intelligence’s latest study of 100 merchants, “Unpacking Merchant Strategies and Consumer Demand for Flexible Payment Plans,” a collaboration with Splitit, explores why merchants need to innovate to win over consumers who want to split their payments over time.

Inside the February Report
  • 78%: Share of merchants planning to improve their ability to accept general-purpose card installments
  • 18%: Portion of merchants reporting lack of BNPL options is consumers’ most common complaint
  • 90%: Share of merchants not offering merchant/store card installment plans

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    Splitit Installment Plans Report Series

    Divided, Not Conquered: Acquirer and Merchant Confusion Clouds Split-Payments Landscape
    Acquirers’ Navigation of an Uncertain Installment Plan Landscape
    Installment Plans Becoming a Key Part of Shopper’s Toolkit