Why Everyone Is Talking about BNPL Services

Why is everyone talking about BNPL

Have you ever moved into a new apartment? Fresh out of your parents’ house. You feel so much excitement, you don’t have to suffer through their rules anymore. You can’t wait to start furnishing your new home, those Pinterest boards have been waiting for too long, so you go to the market to get things kicking, but the price of curtains is half of your salary, and furniture? Omg! That’s two months’ salary combined.

Now you’re here wondering if you should have ever moved out of your parents’ because this financial strain is not just what you imagined.

Many young adults can relate, but the truth is that it does not have to be that difficult. This is why we wake up everyday at Zilla– to provide you with the option of buying now and paying later at zero cost. You can live the kind of life you want by getting the things you need and paying in instalments.

We seem to be living in… scratch that. We are living in unprecedented times where salaries do not seem to cover ever-recurring expenses,  no thanks to inflation, which is why I want to share this silver lining called BNPL- a nick name for buy now, pay later.

How Does BNPL Work?

It’s really simple. When you purchase from a store that offers Zilla as a payment option, you split the payment. Zilla currently offers these payment options:

Pay in 4 – This option allows you to split your payments into 4 equal instalments over 6 weeks. You pay 25% upfront and pay 25% each time for the next 3 instalments.

Pay in 3 – With this option, you have the luxury of spreading your payment over 8 weeks. You pay half (50%) upfront and pay the remaining 50% in two instalments over two months.

Pay 2 – This alternative allows you to spread your payment into two instalments. One instant payment of at least 25%, and the rest paid in 30 days.

How Can I Benefit From BNPL As a Customer?

It reduces financial strain: BNPL enables you to do more things with your money. Instead of spending a lot of money on a particular item that’s not very affordable, you can pay in bits and free up your money for other important bills.

You get to choose a payment plan that suits your finances.

It’s super easy to set up: All you need to do is create an account with Zilla, verify your identity, provide your home address and provide your bank account.

Transparency– no hidden fees

You Get Started Instantly: steps to get credit is 10x faster than your traditional bank and loan apps. You know why Nigerians hate banks? It’s because of the unnecessary queues, unresponsive customer service, loads of documents and so much more! Very frustrating. Well, creating an account with Zilla just takes 5 minutes. From setting up your account to accessing credit.

ZERO interest rates– When you use Zilla you do not accrue any kind of interest. Let’s use Sola as an example. Sola really needs to get a new dress for his girlfriend, but he just has 10,000 Naira and the dress costs 24,000 Naira. He then buys a dress from one of Zilla’s merchants and chooses to pay in two instalments. He pays 6,000 as the first instalment (25%) and within the next month, he pays the rest of the money, 18,000 Naira. No extra interest. Just the exact amount money he would have paid, if he paid once.

You can do more with cash: With the option of paying in instalments, you can free up money for other equally important bills and needs you may have.

How Can I Benefit From BNPL As a Business Owner?

There are so many ways BNPL can be very useful for your small business. These are some of the ways:

Increased sales growth: You get more sales and make more money because customers can have extra money to buy more things

Lower rates of abandoned carts: One major problem e-commerce merchants face is abandoned carts, and a great way to solve that is through BNPL, as it allows customers to buy what they want and pay in flexible bits.

New Customers: As a merchant, you get to expand your customer base when you offer BNPL services since you are offering your services to consumers who may not naturally be able to afford a single payment purchase.

Instant settlement: While the customers pay in flexible bits, you get paid immediately, so you don’t have to worry about not receiving full payment.

Zero maintenance fees: You do not have to worry about paying to integrate Zilla into your ecommerce website, It’s absolutely free.

Why Zilla?

Why not? Zilla has made it super easy to get whatever you want whenever you want. Yeah, you read that right. Flips hair

When you sign up at Zilla, these are some things you get to enjoy:

Zero-interest: Imagine being able to pay in installments and not having to worry about interests. Sounds too good to be true right? There’s still more!

Flexible Payment Options: With Zilla, you can choose payment options that suit your pocket.

Cashback: Zilla rewards customers who pay in full before their due dates with a 2% cash back.

Access to a Wide Variety of Businesses: Well over 500 businesses in various sectors ranging from health to fashion to home improvement accept Zilla as a mode of payment. You can see for yourself here.

Access to Credit: When you register on Zilla and submit all the necessary documents, you have access to up to 300,000 Naira in credit.

These are just some of the many reasons why you should use Zilla to fund your needs and wants. One of our major goals at Zilla is to make the e-commerce sector in Nigeria incredibly smooth and easy for every party involved by giving the customers an opportunity to afford things, and merchants the opportunity to sell more.

If you want to become a Zilla merchant, please let us know. You can reach us on 08147198097 or email us at support@zilla.africa (9am to 6pm Monday to Friday, and 10am to 5pm Saturday and Sunday).

Did you enjoy reading this?

Receive regular financial  content.

Read Next

Zilla money stories

Money Stories with Daniel

In this Money Stories Episode, Daniel talks about an increase in his earnings influenced his spending habits, and how intentional he now is about savings.