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Month: June 2024

How Businesses Can Benefit from BNPL

Posted on by Moby

Are you savvy business owners? If you’ve ever wished your customers could buy now and pay later, you’re in for a treat! Introducing MOBY and MOBY Islamic, Malaysia’s homegrown Buy Now, Pay Later (BNPL) platforms. Not only do we cater to diverse needs, but we also offer a Shariah-compliant option. Let’s explore how our BNPL platforms can elevate your business to new heights.

Boost Sales and Increase Average Order Value

One of the biggest advantages of offering BNPL through MOBY is the potential to increase your sales. When customers know they can pay in installments, they’re more likely to hit that ‘buy’ button. This not only drives more sales but also increases your average order value. Who doesn’t love seeing bigger baskets at checkout?

Attract New Customers

BNPL is especially popular among younger generations who prefer to avoid traditional credit cards. By offering MOBY or MOBY Islamic, you can attract a new demographic of customers who might have otherwise passed on making a purchase. This expands your customer base and opens up new revenue streams.

Improve Customer Loyalty and Satisfaction

Happy customers are loyal customers. MOBY platforms provide a seamless and flexible shopping experience that can enhance customer satisfaction. When customers feel they have convenient payment options, they’re more likely to return for future purchases. This means repeat business and a solid, loyal customer base.

Reduce Cart Abandonment

Cart abandonment is a major pain point for many e-commerce businesses. High upfront costs can scare off potential buyers right at the checkout. MOBY and MOBY Islamic alleviate this issue by offering a more manageable payment plan, reducing the likelihood of customers abandoning their carts.

Enhance Cash Flow Management

At MOBY, we understand that managing cash flow is crucial for businesses. MOBY typically pays merchants upfront, even though customers pay over time. This means you get your money quickly, allowing you to reinvest in your business without waiting for customer payments to trickle in.

Stay Competitive

In today’s fast-paced market, staying competitive is key. Many of your competitors are likely already offering BNPL options. By integrating MOBY and MOBY Islamic, you ensure that you’re not left behind and that your business remains attractive to modern consumers who value flexibility and ethical finance options.

Why Choose MOBY & MOBY Islamic?

BNPL platforms let customers buy what they need now and pay over time, typically in installments. MOBY and MOBY Islamic take this concept and tailor it to the Malaysian market. With MOBY Islamic, you get the added benefit of Shariah-compliant transactions, ensuring that your business caters to all customers.

  • Local Expertise: MOBY offers solutions specifically designed for the Malaysian market.
  • Shariah Compliance: MOBY Islamic ensures that transactions comply with Islamic principles, appealing to a broader audience.
  • User-Friendly: Both platforms provide a seamless experience for merchants and customers.

Conclusion

So, there you have it! Integrating MOBY and MOBY Islamic into your business isn’t just a trend, it’s a smart strategy to boost sales, attract new customers, and enhance overall satisfaction. Ready to take your business to the next level with MOBY?

Don’t wait! Start exploring MOBY and MOBY Islamic options for your business today and watch your sales soar. Need help getting started? Contact us today at https://business.landing.moby.my/get-started/ for a free consultation!

What is BNPL and How It Works: A Comprehensive Guide

Posted on by Moby

making it easier for consumers to manage their finances. One such innovation is Buy Now, Pay Later (BNPL). But what exactly is BNPL, and how does it work? In this comprehensive guide, we’ll discuss in detail the benefits of BNPL and how it can fit into your financial planning.

What is BNPL?

Buy Now, Pay Later (BNPL) is a payment option that allows consumers to purchase items now and pay for it over time, typically in interest-free instalments. This payment method has become increasingly popular among online and in-store shoppers due to its flexibility and ease of use.

Key Features of BNPL:

Interest-Free Payments

Most BNPL services offer interest-free instalment payment plans, making it an attractive alternative compared to credit cards.

Flexible Payment Schedules 

Consumers can choose from various payment schedules from 2 to up to 6 months instalment plan.

Instant Approval

BNPL services usually require minimal credit checks, providing instant approval for most shoppers.

No Hidden Fees

Transparency is a hallmark of BNPL services, with no hidden fees or charges if payments are made on time.

How Does BNPL Work?

Understanding how BNPL works can help you make informed decisions when choosing this payment method. Here’s a step-by-step breakdown of the process:

1. Selection at Checkout

When shopping online or in-store, select BNPL as your payment option at checkout.

2. Approval Process

Provide the necessary information for a quick approval process, which often includes basic personal and payment details.

3. Initial Payment

Make an initial payment (usually a fraction of the total purchase amount) at the time of purchase.

4. Receive Your Goods

Immediately receive your purchased items, just like any other payment method.

5. Scheduled Payments

Pay the remaining balance in scheduled interest-free instalments over the agreed period. Ensure timely payments, to avoid any late fees. 

Benefits of BNPL

BNPL offers several advantages that make it a preferred choice for many shoppers:

1. Budget Management

You have the freedom to spread the cost of your purchases over time, making it easier to manage your budget.

2. Instant Gratification 

You get to receive your items immediately without having to wait until they are fully paid off.

3. Credit Building

Some BNPL providers report to credit bureaus, which can help you build your credit score with timely payments.

4. No Credit Card Needed

You can access the convenience of deferred payments without the need for a credit card.

Why Choose MOBY & MOBY Islamic for Your BNPL Needs?

At MOBY, we understand the needs of our customers and are committed to providing innovative financial solutions. Our BNPL service is designed with your convenience in mind, offering:

  • Seamless Integration: Easy-to-use PayLater option available at checkout for both online and in-store purchases.
  • Flexible Payment Plans: Choose a payment schedule that suits your financial situation up to 6* months interest-free payments. *T&C applies.
  • Shariah Compliance: MOBY Islamic ensures that all payments are Shariah Compliant with many halal products to choose from.
  • Customer Support: Dedicated support team to assist with any queries or concerns.

Conclusion

Buy Now Pay Later (BNPL) is revolutionising the way we shop, offering a flexible and convenient payment solution that caters to modern consumers’ needs. By understanding how BNPL works and its benefits, you can take full advantage of this payment method to enhance your shopping experience.

Download the MOBY & MOBY Islamic App on App Store or Google Play Store today for a seamless BNPL experience and enjoy the convenience of buying now and paying later.