Buy now, pay later (BNPL) offerings are well on their way to challenging credit cards as the payment method of choice for younger consumers. Millennials, for their part, carry two fewer credit cards than their Generation X contemporaries. And in payments localization, merchants need to tailor their payment experiences to the needs and preferences of each market to enable streamlined eCommerce checkouts for international clients. All this, Today in Data.
87%: Share of consumers ages 22 to 44 who are interested in monthly installment plans.
33%: YOY sales increase Chinese merchants experienced in Q3 2019.
17%: Share of credit cardholders who have been offered BNPL options at the point of sale.
2%: Amount of tax that foreign eCommerce merchants must pay on revenue generated in India.