Finance Blog

Buy now, pay later allows you to make a purchase and receive it right away, but pay for it over time, usually in four to six installments. BNPL is somewhat similar to layaway, but one significant difference is that although layaway allows shoppers to pay slowly over time, they don’t receive their purchases until all the payments are made. BNPL allows customers to take home their purchase immediately. Consumers are attracted to pay later account BNPL because they often offer lower interest rates than credit cards. For example, while credit card interest rates can range from 18% to 21%, BNPL interest rates can be significantly less. In fact, if you repay the price of what you bought within the delay period, you often won’t pay any interest at all. Point-of-sale loans (PNLs) are an effective way for merchants to increase sales, build customer loyalty and acquire new customers. Customers who receive BNPLs are likely to spend more, visit a merchant more often and make higher average purcha...

Average credit card processing fees are hard to pinpoint in the current payment industry. For example, some businesses will pay more (or less) due to variables such as type of credit cards accepted, how their customers pay with their cards, whether or not they accept debit cards, how many transactions they process each month and more. The point of this blog is to educate you on what these factors are and give you a rough ballpark of what your average credit card swipe charges fees should be. When it comes to credit card processing fees there are many factors which determine the average fees you will pay. We have created a rough estimate of what your average credit card processing fees should be, but please use this as a guide and not as a definitive number. If given the time we would love to sit down with you and go over all the different options for processing cards and help you find the best fit for your business, feel free to reach out at any time. A big problem with the effective ...