BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Currency
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Credit card
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Debit card
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Detailed explanation-1: -BNPL also known as Buy Now Pay Later is a payment option where you can make a purchase without having to pay from your own pocket. Generally, you sign up with a company providing this facility who makes the payment when you make the purchase.
Detailed explanation-2: -Buy now, pay later services-such as Affirm, Afterpay, and Klarna-are used by a wide variety of businesses, especially ecommerce retailers, to increase conversion, increase average order value, and reach new customers.
Detailed explanation-3: -Using the BNPL option on credit cards is relatively straightforward: You make the purchase, check the app or the website to see if it’s eligible for BNPL, and choose a payment plan with a fixed APR or fee. One perk of using a BNPL loan is that you’ll know upfront how much your monthly installment payments are.
Detailed explanation-4: -Buy now, pay later methods let customers pay in installments over time. You’re paid immediately and in full and your customers pay nothing or a portion of the total at purchase time.