The world of consumer shopping is a competitive one, and it is important to find alternative ways to get more buyers for merchants to remain competitive. Lipa Later provides that alternative. Lipa Later’s solution is simple: we make it easy for your customers and convenient for you to get what you want when you want it! On top of that, we offer a number of merchant-centric features that help increase your sales and revenue.
Our Merchants have seen upto 22% increase in purchase rate as a result of partnering with Lipa Later to sell their products to customers in flexible monthly installments, but how does the buy now pay later system work?
How shop now pay later works
Shop now pay later is a payment option through which merchants can sell their goods to customers in an arrangement that allows the customers to pay in installments of upto 12 months. This opens up a great opportunity for merchants to sell products to customers who may not have been able to afford the product upfront, or want to manage their cashflows, all made possible by Lipa Later.
By partnering with Lipa Later, merchants get access to customers with the capacity to pay for their products in flexible monthly installments.
Merchants using Lipa later have seen over 20% to 30% increase in revenue from customers who are buying products they want via the shop now pay later option.
Lipa Later Merchants
Lipa Later works with over 500 local merchants, giving them an avenue to sell their products in installments to this hugely growing market segment. Merchants can contact us here and start growing their sales through their offline stores, online platforms, or the Lipa Later Shop. Lipa Later’s payment solutions are easy to integrate into websites, mobile app, or in-store POS systems and can be used for any industry where you sell goods or services online – including furniture, kitchen appliances, and electronics. It takes just minutes to sign up and get started.
The shop now, pay later option has created a great opportunity for retailers to sell their products to customers who may not have upfront cash for a product by allowing them to stagger their payments for up to 12 months.
Why should merchants join Lipa Later?
- Improved Conversions
Lipa Later is free to join and merchants can start immediately having alternative channels to drive sales for their products
This benefits both merchants and customers. The merchants can immediately start selling to a customer base they could not access before as they had no upfront cash to buy the product outright from the merchants.
Lipa Later has done its due diligence to ensure the customers on its platform have the ability to pay their monthly installments towards the purchase of the product they are going for.
When a customer opts into Lipa later, they are taken through a screening process to identify their creditworthiness and assigned a credit limit, this ensures Lipa later understands the customer’s capability and is able to improve those limits as they continue transacting on the platform. This strategy has led to massive repeat business. For instance, over 18% of all purchases conducted via the Lipa later platform are repeat purchases. This benefit flows back to the merchants who are able to get loyal repeat customers through the Lipa Later Platform.
- Quick, Flexible payments
Lipa Later has different payment terms with all it’s merchants who are paid within the agreed business day. Whether you’re processing Kshs 10000 per per day or Kshs 500,000 per day, you’ll always receive your money.
Lipa Later has different options for businesses depending on their needs – whether that’s an online payment solution or a POS integration at physical locations. You can find out more here.
Prompt payment ensures continuous flow of business and is proof that Lipa later has the best interest of its merchant at heart by ensuring cash flow in their businesses.
- It’s easy for merchants to set up with Lipa Later
Account setup takes just minutes – only a few pieces of information are required for you to be set up as a Lipa Later Merchant.
Our integration tester makes it easy for developers and merchants to test out payment integrations without having to sign-up, enter card details or take any risks.
Since Lipa Later is a Digital Bank, we have the necessary security protocols in place to protect you from fraud – including chargeback protection that gives your customers additional peace of mind when shopping online. This means that using our solutions poses no risk to merchants or customers.
- Wide customer reach
With over 500 merchants registered on the platform, over the years Lipa later has grown into a massive sales channel for product sellers across the country and the region.
We have different types of accounts depending on merchant needs and also offer M-pesa and card payment options.
You can learn more by reading our FAQs here.
- Easy monitoring and tracking of orders
With Lipa Later’s online dashboard, merchants can see how much money they’ve made and keep track of customers’ orders. Our reporting tools give you a clear overview of your business performance over time. You’ll also have access to the data from every successful transaction through our API, so feel free to build custom reports for your needs!
Like all good things, setting up Lipa Later with your business is simple. You can sign-up for free here and get started in minutes!
You will no longer need to worry about the hassle of collecting payments from customers – our unique technology does it all for you. Plus, there are no hidden fees and we don’t take a percentage of sales.
With Lipa Laters solutions you’ll get: – A simple and scalable payment solution that works on your website, mobile app, or in-store POS system for any industry where you sell goods or services online – No hidden fees & no risk of charge.
Lipa Later is a trusted buy now pay later company that simplifies how you sell to customers in Kenya and Africa. Merchants who use this service enjoy an average of 50% higher order values on their e-commerce sites while also reducing abandoned shopping carts by 10%. If you are looking for an easy way to start growing your sales with less risk or work involved, sign up today!