Most retailers are familiar with the unpleasant situation wherein their customers cannot purchase an expensive product they greatly desire due to funds’ shortage. So, how about providing your customers with the flexible option of paying the amount in instalments? Enter EMI!
Today, Equated Monthly Instalment (EMI) has garnered widespread popularity in the retail sector due to its convenience. It helps customers plan their purchases better and streamlines the transaction process for retail businesses. Using pay later EMI calculator online has facilitated faster and even more convenient EMI calculations for buyers and sellers. Let’s understand some of the exclusive features and benefits of EMI calculators:
The Distinct Features of Online EMI Calculators
- Credit and Debit-Card EMI Options: The best online EMI calculators allow buyers to pay their EMIs every month through credit or debit cards, as per their discretion. This facility enables retailers to target a larger number of customers from their target groups and increase customer loyalty.
- Tenure Selection: Another interesting feature of online EMI calculators is that one is free to select the tenure within which they would like to complete the payment. This facility allows customers to consider their finances, income levels, current financial requirements, etc., while accommodating the EMI payments. Retailers can also reap the benefits of a systematic and secure payment process.
- Compatibility With All Major Banks: The best online pay later EMI calculators are compatible with all the authorised national and international banks. This feature helps retailers broaden their horizons and allows all prominent banks’ account-holders to avail of the debit and credit card EMI calculator facilities.
The Lucrative Benefits of Online EMI Calculators
- An Organised Means of Financial Planning: Online EMI calculators allow retailers and customers to understand the transaction’s exact payment bifurcations, based on the decided tenure and total amount payable. This clarity enables buyers and sellers to accordingly plan their finances well in advance.
- Increased Payment Flexibility: Pay later EMIs allow customers the flexibility to complete the transaction over a stipulated period rather than paying a lump-sum at the time of purchase. EMI calculators can provide your customers with a systematic framework to make the most of this facility. It helps them carry out their payments flexibly and efficiently.
- Increased Calculation Accuracy: Calculating EMI manually is subject to human errors. And while to err is human, an EMI calculator can help humans to eliminate these errors! The best EMI calculators provide buyers and sellers with the exact bifurcations of the payment process, ensuring 100% accuracy and assisting retail businesses to function better.
- Increased Purchasing Power: Since customers availing of an EMI do not have to pay lump-sum amounts at the time of purchase, they can afford to purchase other products at this time. Thus, availing of a credit or debit card EMI option allows customers to manage their other purchases better.
- Wider Reach and Increased Customer Loyalty: As a retailer, you may have felt helpless when a customer could not afford a specific product while shopping at your store. Offering such customers with online EMI calculators and other EPOS online facilities can help them fund these expenses over an extended period. This facility allows buyers to establish trust in your brand and become loyal customers over time. Moreover, the best EMI calculators offer a wide range of options to customers, from various payment getaways to the flexibility of choosing the tenure and amount bifurcation. Such options help retailers reach out to a broader range of potential customers.
ConclusionIt always helps to carry out EPOS tests and provide customers with several payment options for their purchases. Online EMI calculators are here to help you and your customers ensure a hassle-free, efficient payment experience!
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