Retailers Meet Customer Demand to “Buy Now, Pay Later” with Installment Payment Option from Fiserv

Payments News / September 9, 2020

Business Wire

Retailers using digital commerce technology from Fiserv, Inc., a leading global provider of payments and financial services technology solutions, can now enable customers to pay for their purchases with interest-free installment payments. For retailers, installment payments can help reduce online shopping cart abandonment and increase overall ticket size. For consumers, particularly those without access to a credit card, a “Buy Now, Pay Later” (BNPL) option can enable better budgeting for purchases.

Fanatics Customers Can “Buy Now, Pay Later” (BNPL) with QuadPay

Fanatics, the global leader for licensed sports merchandise, will enable customers to pay in installments through digital commerce technology from Fiserv in relationship with QuadPay. Fanatics customers will be able to use installment payments when shopping across the company’s owned roster of online stores, including Fanatics.com, FansEdge.com, SportsMemorabilia.com and international properties, or via the Fanatics mobile application by choosing QuadPay as a payment option during checkout.

“Fanatics is taking steps to provide our customers with an omnichannel shopping experience that is consistent and seamless, whether sports fans are shopping online, on their phone, in stadiums, or at sporting events,” said Chris Orton, Fanatics global co-president of direct-to-consumer retail. “By adding QuadPay to the payment options we enable through Fiserv, we are providing our customers with an added level of purchasing flexibility at a time when many consumers need it most.”

Fiserv acquiring First Data in $22 billion stock deal

Source

Did you know?

  • 40% of consumers who regularly used installment payments before the pandemic have stated they have since increased their usage
  • 32% of all respondents wish more stores offered installment payments

TSG conducted a survey of 483 consumers in the U.S., with the goal of understanding the impact COVID-19 has had on the way the U.S. consumer pays for goods and services. The survey was conducted on April 20th, 2020.

Click here to download the infographic based on payment method insights.