Buy now pay later businesses are having a rough ride. They face challenges due to the ease with which people can get credit, their break fees, the cost to retailers of offering the payment method and the entry of new competitors into the space – like banks and Apple.
It feels like the glory days of buy now pay later as a traffic driver for retail are over.
In our Tower Systems POS software we have good LayBy tools, which any retailer can offer and manage easily. We developed these many years ago and have maintained them. Today, we have some retailers handling thousands of LayBys every year. We bring structure and support to offering LayBys in any local business.
Here is a 6-minute video we shot about this yesterday morning.
Using the LayBy tools in the Tower Systems POS software, small business retailers can offer professional management of LayBys including:
- Structured terms and conditions.
- Collecting a deposit every time.
- Managing payments.
- Handling the adjustment of what is in a LayBy.
- Managing the collection of the LayBy.
- Understanding the total LayBy situation of a business.
- Knowing the location of a LayBy.
- Feeding LayBy data through to any connected accounting software.
- Giving even casual employees a structured process through which they can be certain with LayBys.
Best of all, the LayBy facilities in the tower Systems POS software help a retail business to bring structure, certainty, to the LayBy offer in a business and this leads to good business, efficient business, profitable LayBy business.
We make LayBy easy but certain, a differentiator on which local retailers can rely to win business and provide a service local shoppers love.
For too many retailers, offering LayBy can be a grind, problematic to manage. Using our LayBy tools we offer structure. many retail businesses in our POS software community find this useful to LayBy being a more enjoyable part of their businesses. We like this. One of our goals is to help small business retailers enjoy their business more.
With the advent of BNPL, LayBy can be a small business win, a true differentiator, and Tower Systems helps achieve this.