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B2C Marketing 101: Are Consumers Turning to Digital Payment Plans? Here’s What You Need to Know

Are consumers turning to alternative payment plans for low-priced items and big purchases? 

Imagine you are browsing online for some of your most coveted items. They could be video games, makeup, or even furniture investments such as a couch or a bed. Wouldn’t it be great if you could receive your wishlist now and worry about paying the full amount later? Alternative payment plans can do that for you. 

According to a survey by CivicScience, 28% of internet users between 18-24 are interested in payment plans. Meanwhile, 31% of individuals between the ages of 25-34 have expressed interest. Individuals between 35-54 account for 25%, while those 55 and older rest at 16%.

The driving force behind the desire for interest-free payment plans may be credit card debt. In fact, 61% of those interested individuals noted that they have credit card debt. Student debt is attributed to this as well. Of those surveyed, 35% of those interested, have student debt.

CivicScience noted some key takeaways. Those who are in debt want to save money through alternative payment methods. On the flip side, those who are interested in alternative payment methods risk having more debt due to financial difficulties. 

There are various digital payment plan options available. Some of these include Afterpay, Affirm, and Klarna.

Afterpay emphasizes a “shop now” and “pay later” motto. By using this method, consumers can purchase items and then make payments in four installments. These installments are interest-free and due on a bi-weekly basis. The schedule begins from the time of purchase. Consumers can also get notifications and emails about the payment schedule. 

As for Affirm, it serves consumers who need short-term loans for personal purchases. Users can select from different payment schedules and make payments on a monthly basis. Affirm also notifies users about upcoming payments. This method highlights how making payments on time can improve credit history. It should be noted that Affirm loans are not interest-free. 

Klarna also offers the choice of different payment schedules. These include an interest-free option that splits the cost into four bi-weekly installments, an option to pay in 30 days, as well as a financing option that can stretch between six months to three years.  

Alternative payment plans for both low and high-priced items offer consumers instant gratification. These types of plans can also encourage consumers to spend more on products. In a Consumer Reports article, Elizabeth Allin, who is Affirm’s vice president of communications, said merchants receive a 92% average order value increase when offering Affirm to their customers.

Businesses and their marketers should take note of this digital payment trend. Alternative methods can increase profit margins and provide further insight into consumer behaviour. Using these research findings to create optimized B2C marketing strategies is one of the things Find Your Audience can do for your business. To get started, call 647-479-0688 or email

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