2022 Mozo Postpaid (BNPL) Report Eighty-two percent of BNPL users admit that they are using the platform for online shopping because it is more convenient to log in to their account than to enter their credit or debit card details.
When shopping online, 44% of BNPL users prefer the ability to enter login details and other checking methods do not slow them down. One-quarter (25%) of BNPL shoppers admit that they often don’t have card details when shopping online, so they choose to log in to the payment platform.
“The Buy Now Postpay Platform is a great way to analyze the cost of more expensive items and manage your personal budget. Due to the surge in popularity of online shopping, people use installment payment systems. It’s not surprising that the checkout process is further streamlined, but this convenience can be costly if you don’t manage your repayment schedule and incur late fees, “Claire Frawley said. increase. Mozo Spokesperson.
It’s safe to buy items online, but there are still scams and phishing sites trying to get credit card information. Thirteen percent of respondents preferred to log in to the BNPL platform as a way to avoid entering their credit card details while shopping online.
How much do you spend on BNPL?
Australians spend $ 2,208 a year on the BNPL platform, averaging $ 184 a month. In contrast to what is generally believed, Generation X spends an average of 25% more than Generation Z. People aged 35-44 spend $ 214, while people aged 18-24 spend an average of $ 160 a month.
82% of BNPL users prefer the installment payment platform at checkout
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