The Power of Customizable Flexible Payment Plans

Progressive companies are recognizing the value that flexible payment plans bring to their customers. These versatile payment solutions make your goods and services more accessible to shoppers who might have previously walked away due to budgetary constraints. 

But what is flexible finance and what does it mean for your business? In this blog, we’ll explain what flexible payment plans are and how a customizable solution can boost your sales strategy.

What is a Flexible Payments Plan?

Flexible in-house payment plans give shoppers the option to buy now and pay later, typically in manageable installments. However, unlike credit cards, these plans provide repayment options in customized terms specific to the purchase. Plus, you can offer flexible financing options directly to your consumers so they don’t need to go to a third-party lender. 

While one-size-fits-all payment platforms may have their own payment plan definition that can involve credit pulls and long applications, PaySpyre keeps things simple with easy applications with no credit checks and high approval ratings. But what are payment plans’ biggest business benefits?

  • Fewer abandoned transactions – High cost has always been a deciding factor in purchasing decisions, but modern consumers are increasingly “feeling pinched economically” — causing financial stress and a lower likelihood of buying. When customers don’t have to pay the full cost upfront, they’re more likely to complete the purchase.
  • Expand your reach – Flexible payment plans make your goods and services affordable to shoppers who need financing but may not have a credit card. 
  • Maintain a competitive edge – You can rise above your rivals with flexible payment plans, meaning shoppers who need an alternative way to pay will come to you instead of your competitor. 
  • Boost customer loyalty – Once customers know you offer solutions that can accommodate their budget and financial goals, they’ll keep coming back again and again. 

Customizable Flexible Payment Plans From PaySpyre

When you partner with PaySpyre, you can empower your customers to confidently say “Yes” to your products and services by offering flexible payment plans that suit their needs. We know that your company has its own unique financial objectives, too. That’s why we make it easy to tailor our products to your needs. 

New to in-house financing? Not a problem. We offer end-to-end support and in-depth training to ensure implementing our cloud-based system is a breeze. We know you have more important things to focus on, which is why we make using PaySpyre as seamless as possible. Discover the power of different types of customizable payment plans for your customers. 

No Interest / No Payments

Give your customers a little breathing room with a no-interest/no-payment flex payment plan. These plans contain a promotional period during which no payments are due and no interest will be charged. Some customers need time to adjust their budget to accommodate a large purchase, and no-interest/no-payment plans help them do just that.

Equal Payments Without Interest

Cater to clients who need a little encouragement with equal payments without interest plans. These plans take the total purchase price and divide it into equal payments to be made over a set period. Shoppers with dependable incomes who don’t have the funds to pay upfront can benefit from this consistent plan.

Equal Payments With Interest

Protect your bottom line by offering equal payments with interest. This option allows customers to manage their purchase costs over time with the addition of competitive interest rates. These interest-bearing accounts not only help your customers spread out their payments — they also enable your business to generate additional revenue, offset the costs of financing, and create a buffer for potential losses.

Short-Term to Long-Term Options

Accommodate diverse financial goals with our short- and long-term payment plans. Whether your customers want to be on the fast track to repayment or need extra time to fulfill their obligations, we offer flexible payment plans as short or long as you’re comfortable with. We’ll work with you to create offerings that make sense for your business and customers. At PaySpyre, we know that life can be unpredictable — but with our flexible terms, you can give your customers a sense of control.

Small to Large Balance Options

We don’t believe in one-size-fits-all payment plans. Some customers need assistance with the full purchase price, while others only need to finance part of the cost. That’s why PaySpyre offers small and large balance options for shoppers in every stage of life. Whether your customer needs you to meet them halfway or the whole way, you’ll have a flex payment plan that suits them.

Flexible Down Payment Options

Give your customers the freedom to purchase your goods and services today, and set down payment expectations based on the needs of your business and customers. With PaySpyre, clients who don’t have the funds to purchase in full today can still make a purchase and pay it off on a set schedule.

Multiple Credit Products for Uses and Promotions

Revolutionize the payment experience for your clients by giving them a variety of options that let them finance their purchases on their terms. PaySpyre proudly curates a variety of financial products that you can make a permanent part of your business, as well as limited-time promotions that can bring in new customers. 

Get Started with PaySpyre Today

Pave your way to a more inclusive business model with PaySpyre. Our flexible in-house finance plans can broaden your customer base and empower people to access your goods and services when they need them — regardless of their ability to pay upfront. 

Don’t let rigid financing options drive potential customers away. Learn more about how PaySpyre works and start offering flexible payment options to your customers today!