LONDON, Sept. 14, 2021 /PRNewswire/ — Synapi, the leading lending software provider, today unveiled its Buy Now Pay Later (BNPL) platform to help merchants achieve higher sales by offering more of their shoppers suitable financing. It’s predicted that the global BNPL market will continue to grow at 22% per year in the coming decade and be worth an estimated $31 billion by 2028. Synapi will offer both B2C and B2B merchants its proven technology and know-how – easily accessed through APIs – gained over the past decade extending over 3.5 million loans to customers of its parent company, Gain Credit.
It’s estimated that merchants lose 40% of potential sales due to the lack of financing for their shoppers. In further polling, more than a third of customers said they’d be more likely to shop at a merchant offering financing, while a quarter said they’d likely spend more with financing. And nearly 30% of shoppers said they’d be more likely to return to a merchant in the future if financing were available.
All this means that merchants offering financing that’s easy for their…
