Installments is one of the many great features of Shop Pay, Shopify’s fastest checkout option, available to buyers. When buyers start the check out process with our product, we also observed a 28% decrease in the checkout abandonment rate for merchants that switched from a third-party installments solution.Ī faster and smoother checkout experience keeps customers within the store and drives more conversion. Comparing first-time installments users, Shop Pay Installments has a 122-second checkout time versus a 167-second average checkout time on third-party solutions, which makes our ‘buy now, pay later’ product 27% faster. With our product, return users have a 69-second checkout time compared to a 104-second average checkout time on third-party installments solutions. Shop Pay Installments offers a 30% faster checkout experience to return installments users. This means merchants don’t have to worry about overselling due to limited quantities or during flash sales. Since it’s the only fully integrated ‘buy now, pay later’ solution on Shopify, buyers aren’t redirected from checkout-unlike with other installments products. Our ‘buy now, pay later’ product provides buyers greater flexibility to purchase higher-ticket items and check out with larger cart sizes, knowing they can pay over time.īuyers using Shop Pay Installments benefit from Shop Pay’s seamless, accelerated checkout experience. One out of four merchants observed a 50% higher average order volume with Shop Pay Installments. This extra buying power translates into more sales and larger orders. Shop Pay Installments allows buyers to maximize their budgets and increase their purchasing power by letting them pay in smaller increments over time.
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