PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
The churn rate is a metric that measures the percentage of customers or users who stop using a company's products or services within a certain period.To calculate the churn rate, you need to divide the number of customers who stopped using your product or service during a specific period by the total number of customers you had initially. Then, multiply the result by 100 to express it as a percentage.Churn rate = (Number of users lost during a period / Total number of users at the beginning of the period) x 100Understanding the implications of a high churn rate is crucial. It signifies that a company is losing a significant portion of its customer base, which can directly impact revenue and profitability. Therefore, reducing the churn rate is a pivotal goal for many businesses. Strategies to achieve this often involve enhancing customer service, improving product features, and providing incentives to retain customers. For instance, offering more favorable payment terms, such as PastPay, can help retain customers and, therefore, reduce the churn rate.
Direct trade or direct sales refers to a method in which the seller does not sell online, for instance, through a webshop, but rather in person, over the phone, or via email. Direct sales allow the seller to interact directly with customers and provide them with a more personalized experience.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
Fulfillment refers to receiving, processing, and delivering customer orders. It encompasses all the steps in getting a product from the point of sale to the customer's hands.It encompasses various crucial steps, from order processing to verifying payment and checking product availability. Following this, the items are picked from the warehouse shelves, securely packaged, and prepared for shipping. Once packaged, the order is dispatched to the customer using the chosen shipping method. Finally, the order is delivered to the customer's specified delivery address. Order fulfillment is not just a process, it's a key to customer satisfaction and loyalty in e-commerce businesses. Efficient order fulfilment processes ensure timely and accurate delivery, which in turn enhances customer satisfaction and loyalty.
Financial flexibility refers to the ability to manage financial resources in a way that allows it to adapt to changing circumstances and take advantage of opportunities as they arise. Financial flexibility is often achieved through a diverse range of financial resources and instruments. These can be strategically utilized to meet both short-term and long-term financial needs. Such instruments might include cash reserves, lines of credit, or other sources of financing like B2B BNPL, which can be swiftly accessed when required. Having financial flexibility allows businesses to:
- respond to unexpected expenses or financial emergencies without resorting to extreme measures.
- take advantage of opportunities for growth, expansion, or investment.
- adjust to changes in the economic environment, industry trends, or market conditions.
- manage cash flow effectively to meet financial obligations and take advantage of favorable terms or discounts.
Integrating payment methods into business processes, such as B2B BNPL and PastPay, allows for greater financial flexibility.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
Late fees are charges imposed by a lender on a borrower when a payment on a loan, credit card, or other financial obligation is not made by its due date. Late fees are typically outlined in the terms and conditions of the loan or credit agreement.Late fees are intended to incentivize borrowers to make timely payments and compensate lenders for the extra administrative costs and risk associated with late payments.Late fees can vary depending on the loan or credit agreement type and the lender's policies. They are usually a flat fee or a percentage of the overdue payment.Customers can choose to pay with PastPay to avoid late fees imposed by merchants and extend the payment deadline of their purchase by 30 to 90 days. PastPay also applies late fees once the invoices aren't paid by the extended deadline; you can learn more about late fees here.
Multichannel sales involve selling products or services through multiple sales channels, both online and offline. These channels can include brick-and-mortar stores, e-commerce websites, online marketplaces, and even through phone or catalogs.This approach allows businesses to reach customers through different touchpoints, catering to their preferences and providing more convenience in the purchasing process. Moreover, it allows businesses to diversify their revenue streams and reduce reliance on any single sales channel, providing a sense of reassurance and confidence in their sales strategy.Payment solutions, like PastPay, were created to meet the needs of merchants with multichannel sales. They cover several business use cases, from webshops to direct sales.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
PastPay is a regulated financial service provider offering deferred payment terms through factoring, more commonly known as ‘Buy Now Pay Later’ for B2B merchants in EU countries.
