Railsbank’s solution offers retailers the chance to develop their own branded, cutomisable BNPL option. In the current landscape, existing BNPL solution providers prioritise their own branding and customer engagement, according to the press release. Retailers are therefore forced to trade off between lesser branded, legacy financing solutions with poor UX, or fully third party branded solutions, the company added.
Railsbank’s solution enables businesses to reclaim this BNPL experience by providing their own instalment financing online and in-store. Customers can split payments in up to 36 instalments without distractions or risk posed by a third party. Retailers can declutter checkout flows, unlock new engagement opportunities during the payment and repayment lifecycle, and link rewards accounts. Railsbank’s BNPL solution will be available in the UK and Germany in 2022.
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