Decrease churn by offering BNPL for annual subscriptions.

Afterpay recently announced buy-now-pay-later (BNPL) for subscriptions in the US, opening up a big opportunity for SaaS companies. Give customers a BNPL option to increase annual subscriptions and decrease churn.

BNPL has blown up in the e-commerce world. It is estimated to increase conversions by 20-30% and the average ticket size by 30-50%. In early 2022, one of the biggest BNPL providers will be opening its doors to subscription-based businesses. And while this isn't really applicable for monthly subscriptions, it could be great news for those who want to leverage annual subscriptions. Annual subscriptions reduce churn and provide a lump sum for businesses up front. And with BNPL, customers will be more likely to opt for your annual subscription, as they can pay it in installments. If this sounds promising to you, get ready to implement Afterpay (or other BNPL providers which are sure to follow) in the new year.