61% of Consumers Would Let AI Pick Pay Later Options

Your customers are ready to let technology handle their financing decisions. New data shows that 61% of consumers are open to using AI to choose the best Buy Now, Pay Later (BNPL) option at checkout. This shift suggests that the days of customers manually comparing interest rates and terms are fading. Instead, they want a frictionless experience where an algorithm selects the most cost-effective or convenient plan for them. For retailers and service providers, this means the 'waterfall' or financing stack you offer is more important than ever. If customers use AI assistants to scan for the best deal, merchants with a diverse range of lenders—covering everything from 0% APR to subprime options—will see higher conversion rates. The AI aims for the path of least resistance and best value. If your financing portfolio is limited, these AI-driven shoppers might bypass your checkout for a competitor with more flexible integrations. However, there is a catch. While shoppers trust the tech to do the math, they still want the final 'kill switch.' They want control over the ultimate approval. Businesses should focus on integrating smart checkout tools that can talk to these AI agents while keeping the user interface simple and transparent.

Source: PYMNTS — BNPL

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