SINGAPORE - 25 January 2022 - Buy Now Pay Later ("BNPL") –– a concept we are all too familiar with. This fintech trend that enables business customers to make purchases through instalment plans has seen a high traction recently. However, these are often tied to tedious credit assessment, documents requirements and hefty interest with fine print, resulting in much debt that often goes unpaid for far too long. With INFT BNPL, businesses can now be more competitive and gain higher sales volume, while their customers get the products with 0% interest instalment payments.
With increasing companies now offering such services, this holds testament to consumer preference for flexible payment methods instead of traditional payment schemes. However, given most companies take cuts from business profits, one might be reluctant to consider offering BNPL to customers. But perhaps we can sell you a couple of benefits, including the massive potential for business growth. Such is exceptionally attractive for Small and Medium-sized Enterprises ("SME") seeking to establish a loyal client base right from the outset. As such, INFT is choosing to launch its very own Buy Now Pay Later, a product stemming from the concept of BNPL.
Designed to help you grow, INFT aims to provide an easy and fuss-free solution to encourage higher sales volume and average transaction size. In just three simple steps, your business will be far more attractive to new customers in comparison to competitors. Firstly, your business will submit an invoice to INFT. INFT then assesses the customer and verifies the purchase. Your business will receive the full amount (less transaction fee) from INFT upon receiving the first upfront payment from the customer.
Buy Now Pay Later extends across all business transactions including food to electronics. INFT's recent launch of BNPL offers flexibility with 6 easy payments that come with a maximum transaction size of up to S$5,000, while featuring transparent fees with no interest rate. By breaking these jaw-dropping prices into more manageable, 6 interest-free payments, the prices presented are more palatable to business customers. This service is the perfect win-win situation for businesses and business customers alike.
With the introduction of Buy Now Pay Later, INFT hopes to encourage competitiveness in businesses with easy payment methods and higher turnover rates while getting paid upfront. Using this form of short-term financing credit will allow businesses to reach out to a wider target audience, remain competitive and foster consumer loyalty. With INFT, you can boost your business sales by enhancing customers' experiences and reducing cash flow strain.
Launched in 2020 by Singapore-native entrepreneurs, Eldwin and Roy, who have more than two decades of experiences in technology, retail banking and financial industry, IN aims to level the playing field for start-ups and SMEs to grow. They have one simple mission to empower Micro, Small and Medium enterprises in Asia to digitalize their businesses, and to break down financial access barriers. The flexible and secure IN ecosystem offers a competitive and attractive pricing, and the best-in-class financial solutions to empower entrepreneurs to focus on their core business.