Finance lenders such as Klarna and PayL8r have seen staggering growth. With nationwide and worldwide adaptation, it has become a better (or even best) choice for consumers during purchases. With the rise of unregulated financial lenders and the need for ethical financing, it is critical to determine which choice is best for aesthetic professionals. In this blog, let’s closely examine which is better, Faces Buy Now Pay Later or Klarna?
Faces Buy Now Pay Later
Faces Buy Now Pay Later is a flexible payment solution designed for the aesthetics industry. Since its inception, it has gained popularity in small and medium-sized aesthetic businesses because of its proven usefulness in handing flexible payments to clients, increasing profits and bookings for aesthetic business owners, and increasing customer loyalty rates. Faces Buy Now Pay Later was created to ensure that aesthetic professionals using Faces can connect and align themselves with modern consumer preferences for flexible shopping purchases.
Solo practitioners and clinic owners using Faces can offer this feature to clients through forwarding consent forms, booking links, and a direct finance link, allowing them to split the payments for their treatments. This feature is seamlessly integrated into the Faces Booking System, which helps clients make better choices for the treatments they want to purchase.
Loans Available
Practitioners using Faces Buy Now Pay Later can offer convenient payment choices for their clients. The most popular choice for clients is the “Pay in 3, Interest-Free” option, wherein your customers can pay within 3 months to make it 0% interest-free. Additionally, customers can also have the flexibility to spread their payments within 3, 6, 9, or 12 months.
Clients with existing loans through Faces Buy Now Pay Later can only have 1 active existing loan. Therefore, clients should settle their loan payments before they can get another loan.
The Setup Process
Registering for Faces Buy Now Pay Later is easy. Simply provide us with the necessary details for your business, we’ll review it, and once done, you’ll be able to offer Faces Buy Now Pay Later to your clients. Faces users who are already registered for our pharmacy feature would have an easier time as most documents we need for finance are already in the system. If you’re also having trouble, simply connect with our dedicated finance manager, and we’ll sort it out for you in no time! Click here to send us a message.
Who’s it for:
Faces Buy Now Pay Later is specifically designed for businesses within the health and beauty industry. This includes aesthetics businesses, dental clinics, beauty salons, SPMU and tattoo studios, laser clinics, and more. Solo professionals can also utilise this feature to provide more payment options for their clients. If you’re looking for a reliable finance provider to help you boost your sales and supercharge your calendars, Faces Buy Now Pay Later is the choice for you.
Introducing Klarna
Klarna is one of the biggest financial technology (fintech) companies in the world. With over 450,000 merchants across the world, it has provided flexible options to shoppers across different industries, including the aesthetics industry. Klarna is on a mission to provide the world with simpler and faster checkouts with its technology.
Loans Available
Just like with Faces Buy Now Pay Later, Klarna offers a variety of payment plans for interested clients. Klarna offers interest-free instalments, which let your customers split their payments into 3 monthly instalments. Customers would need to pay ⅓ of their payment to successfully purchase treatments and items.
Other payment plans include flexible payments of up to 36 months for higher ticket items and a “Pay in 30 Days” feature where clients can delay their payments by 30 days.
Who’s it for
Klarna is best suited for established aesthetic businesses. With Klarna’s capabilities, you can integrate it into your website. Klarna is also well-suited for clinic owners with multiple clinics in different countries, allowing you to track payments in real time.
Face Off: Klarna or Faces BNPL?
Let’s talk about fees
Faces Buy Now Pay Later and Klarna has no setup or maintenance costs.
Klarna has flat fees for partnered businesses of around 20p per purchase plus a percentage fee that ranges from 3.29% to 5.99%. Customers can also be charged late fees and interchange fees. Other fees on Klarna have not been published or available online; you need to create a Klarna business account to contact their team.
On the other hand, Faces Buy Now Pay Later has a flat fee of 10% per purchase. There are no other hidden fees, and this will cover the whole operational and administrative costs for you to enjoy this feature for free. Late fees will only occur to your clients if they miss their repayment dates. Enjoy zero risk for fraud as we take on the risks for you.
Ease-of-use
Faces BNPL is seamlessly integrated with all the functionalities inside Faces, eliminating unnecessary work for you and your clients. Your clients can also view treatments, select payment options, and make purchases in one easy flow. Through this slick process, users with Faces BNPL have seen immense growth in revenue and bookings.
Klarna has a functioning app where you can redirect your clients to create an account, submit their information, and wait for a decision in regards to their purchase. This will take time for you and your clients, and your clients might get turned off from getting treatments if there’s a lot of processing going on. You can also integrate Klarna on your website by embedding the codes necessary for it to work.
Who’s the winner?
We’ll be honest, we can’t beat their fees. But if you’re looking for something easy for you and your clients, clarity on fees, and excellent customer service, choose Faces Buy Now Pay Later. With its seamless integration, clients are likely to spend more and book more treatments with you. In addition, you’ll get excellent customer service, a lifetime of free features on Faces, and robust marketing tools that will scale your business to the next level.
Ready to get started? Send us a message or register for Faces Buy Now Pay Later today.