finance

Faces Buy Now Pay Later: Explore the Top Trends Behind

Faces Buy Now Pay Later: Exploring the data behind the rise of Buy Now Pay Later Schemes.

Faces Buy Now Pay Later was introduced in 2022. Since then, thousands of practitioners have registered and used our Buy Now Pay Later feature. Fast forward to our current timeline, Faces Buy Now Pay Later is comparable to leading finance lenders for beauty and aesthetic businesses!

In our recent blogs about finance, we’ve highlighted several advantages and benefits of Faces BNPL such as an increase in clinic bookings and higher client retention rates. We understand that some practitioners may still be sceptical about these advantages, and we would like to show you the raw data on our end.

In this blog, let us show you the cold data about finance in the beauty and aesthetics industry, along with the native data we have on Faces. We’ll connect the dots on each piece of data and come up with the best judgement for your business. Let’s go ahead and start!

Faces Buy Now Pay Later and Bookings

– Across all UK businesses with BNPL integration, 69% have reported an increase in sales and performance metrics.

– Since 2020, the Buy Now Pay Later industry has seen humongous user growth, with a record total of £30bn expected this year.

– In 2023, the health & beauty industry led the market in consumer spending.

– Aesthetic clinics offering seamless experience in bookings can enjoy up to 69% in bookings compared to traditional paper-based clinics. This means aesthetic clinics offering an all-in-one solution for payments, bookings, and finance have the advantage.

– According to PayL8r, BNPL options capture a larger segment of customers, and businesses can see up to a 30% increase in orders.

– Examining our database, practitioners registered on BNPL through Faces have seen a 28% increase in bookings for their most expensive treatments. We also spotted that clients who realised they could use Buy Now Pay Later are more likely to get more treatments.

– Online purchases (including appointments booked online) are rapidly growing due to BNPL, with Gen Z and millennials leading the purchase growth.

– With Faces BNPL, introducing BNPL to your aesthetic business can attract younger clients (19-29 years old).

– Financial and analytical forecasts believe that up to 78% of businesses will adapt to BNPL due to customer’s increasing reliance on BNPL payments.

Summarising all data from both Faces and other reputable sites, there is a positive connection between offering Faces Buy Now Pay Later and the number of bookings. Though this would generate more profits for you, it is crucial to understand the proper strategy for implementing BNPL.

Reasons why Buy Now Pay Later is popular

As we’ve seen tremendous growth in BNPL transactions in the UK, as of 2024, more than half of UK adults have used Buy Now Pay Later for purchases. In this section, we will indicate several reasons why BNPL is popular in the retail and aesthetic industries.

– In early 2020, data shows the main reason why clients use BNPL is because of its convenience.

– BNPL is also popular because consumers use BNPL services to avoid high credit card fees and interest.

– A study done on 533 BNPL users suggests that utilising this feature has made high-cost treatments attainable and more manageable for repayments.

– Another related study by the Consumer Council found that one key reason consumers use BNPL is due to the recent increase in the cost of living. Further examination of the research shows that the impacts of BNPL have mostly been positive.

Conclusion

In this digital age, BNPL is a pivotal feature that encourages clients to book a treatment. While lingering sentiments make aesthetic professionals hesitant to use this feature, with the correct mindset, the right knowledge, and a reliable partner like Faces, you can eliminate your worries and continue on the road to financial and business success.

If you want to start registering on Faces Buy Now Pay Later, click here or talk with our Finance Manager!

May 8, 2024 by admin | 0 comments

Finance

Buy Now Pay Later For Business: Is it the Right Choice For Aesthetic Clinics?

Buy Now Pay Later for business or BNPL for short, is a game-changer for the aesthetic industry. With reports of significant improvements in sales, it is an attractive method of gaining new clients and increasing bookings for your most expensive treatments. Though there are still those who resist implementing BNPL schemes, with the ever-growing competition in the aesthetics industry, having Buy Now Pay Later for business may be the greatest asset you will have to stand above the rest.

In this blog, we will tell you why Buy Now, Pay Later (BNPL) is the right choice for your aesthetics business!

1. The convenience it offers

There’s a clear reason why BNPL is popular with 26.4 million people. Their popularity is due to how BNPL conveniently offers financial flexibility to interested and worthy customers. Whether it’s for something small or an expensive treatment, BNPL is a popular payment method because of its ability to spread costs, interest-free payments*, and ability to pay for high-cost purchases that clients couldn’t afford in one go! In addition, young borrowers have decided to opt-in to the Buy Now, Pay Later option to avoid high credit card interest!

Through Faces, we’re enabling you to offer convenience to your clients! With no upfront or setup fees, register with Faces Buy Now, Pay Later, for free!

2. Clients keep coming back for more

Retaining clients and increasing your client base have become much easier with Buy Now Pay Later for business! Combining the best customer experience, bespoke treatment, and flexible options, you’ll be able to turn your one-off clients into lifelong patrons. Don’t believe us? Hear it from Harvard themselves! Through BNPL, clinics and solo practitioners alike would be able to foster trust and appreciation by looking like businesses that care about and appreciate their clients.

With BNPL at hand, you can also strategically use other features on Faces like SMS reminders, group emails, and discount codes to increase client retention and loyalty rates.

3. Stand among giants

Competition is fiercer than ever, and the greatest weapon you have (or don’t have) is Buy Now Pay Later for business. Clinics or aesthetic professionals stand above their competition by exuding great customer care and experience; one way of effectively displaying these treatments is by offering BNPL at the time of their needs. Through BNPL, your clients will have the best and most unforgettable experience. Stand among giants, or take the extra mile by standing above your competition!

4. A win-win situation

If it’s not evident enough, BNPL is a solution that benefits you and your clients. Clinics and practitioners observe higher booking rates, an increase in clientele, and better customer loyalty rates on their aesthetic business! Meanwhile, your clients get to enjoy their treatments while spreading the cost. With Buy Now, Pay Later, you’re not just offering a payment option for your client; you’re also building a pathway to beauty that onlookers and clients can easily walk down.

5. Secure more bookings

Let’s end this list with an irrefutable fact. BNPL has provided a way to secure more sales for businesses. In fact, 69% of UK businesses have reported increased sales and performance metrics. Finance lenders like our partner, PayL8r, have been revolutionising the way clients pay for their treatments, and positive results have been gained since then. Buy Now Pay Later for business has truly helped thousands of aesthetic practitioners and clinics in the UK.

The bottom line: Buy Now Pay Later for Business

To summarise what we have discussed, Buy Now Pay Later for business is more than just a payment option. Through BNPL, clients can grasp confidence and beauty, while aesthetic professionals use it as a tool for customer satisfaction, growth, and success. Demonising BNPL can be detrimental in pursuing long-term goals and success for your aesthetic business, though we won’t hide the fact that finance without the proper knowledge could lead to unethical financing. Equipping ourselves with the right mindset and informing our clients properly can turn these harmful effects into a solution that enables both parties to benefit from it.

May 6, 2024 by admin | 0 comments

Finance

Making Buy Now Pay Later Ethical: Solving Client Impulsive Buying

Buy Now Pay Later promotes spending; we won’t sugarcoat that. As more flexible options become accessible to the market, it’s forecasted that we will see a whopping 15% growth in BNPL transactions this year. Though positive effects of providing BNPL schemes and finance options include revolutionising customer purchases, financial flexibility, and increased client bookings, this feature could trigger impulsive buying and irrational decisions. With a sound argument from both sides, a necessary question has to be posed: is Buy Now Pay Later ethical?

Yes, but Buy Now Pay Later can be a double-edged sword

Finance is ethical. Through strict implementation, informative advertisements, and smart financial planning, clients would have a healthy balance of debt and cash flow, but this comes from an idealistic point of view. Truth be told, with immediate gratification and ease of access to BNPL, clients can impulsively spend without thinking about the risk. But, besides enforcing strict aftercare procedures, aesthetic professionals should also be responsible for enforcing positive habits in their clients!

Related Link: “Payment plans are bad, but is cash payment worse?”

In this blog, we’ll talk about the 5 simple actions that you can implement right away. Don’t worry, this isn’t hard, and you might find yourself doing this unconsciously to your clients already.

1. Ask them about their budget, but remember to be friendly!

There’s nothing wrong with being a little direct with your clients, especially when you’re trying to help. By clearly stating your question and the intent behind it, you will promote trust and credibility. In addition, it’s easy enough to convince clients to take BNPL for their aesthetic treatments; however, if the decision isn’t rational, customers may tend to feel a phenomenon called buyer’s remorse. On the other hand, businesses that put time and effort in ensuring the customer feels valued tend to reap significant rewards through customer loyalty. Statistics show that loyal customers could spend more than the average per purchase, ranging from 25% to 95%!

2. Offer clients time

We know that offering time-limited options is the best way to hook clients. But if your client remains unsure of their budget, the best option to give is time. In fact, customers will likely stick to their initial decision when forced to make an immediate decision, but oddly enough, customers who have been given enough time will shift the odds in your favour when they make a final decision.

However, you shouldn’t give clients too much time since they might forget your transaction. In our opinion, giving them a 3-5 day window to internalise their thoughts with constant and gentle follow-ups usually does the trick!

3. Upsell, not hard sell.

In alignment with the law, practitioners must not advertise Buy Now Pay Later for their treatments when utilising finance through Faces. In alignment with the previous statement, Faces wholeheartedly stands by it, as most practitioners try hard-selling for finance. Hard-selling is a sales strategy that is designed to be direct and pushy, and it can plummet your customer retention and loyalty rates. Instead of hard-selling Buy Now Pay Later, simply sell the idea that other payment options are available for your client to use (upsell).

4. Slow. Things. Down.

We know how practitioners can be excited when booking a client in for a treatment. However, it’s also essential to take things down a notch in order to dot the i’s and cross the t’s. Quick decisions can amount to impulsive buying. As reliable practitioners for your clients, it’s essential to slow them down if they seem overly excited about using finance for their treatments. By slowing them down and asking the right questions, you’ll avoid irrelevant headaches in the future.

5. Be the source of useful information

Last but definitely not least, be a source of useful information for clients. In alignment with the previous numbers, aesthetic practitioners offering finance should also be updated on the regulations and different processes for their third-party lenders. Through Faces, you can get the newest piece of information on our blog section and social media pages

Conclusion

With the rapid increase of BNPL schemes, customers feel more empowered to spend than ever. Practitioners shouldn’t overly take advantage of their vulnerability but rather act in the best interest of their clients. Through Faces, we can help you offer ethical financing through our finance lending partner. Schedule a call today with our specialist, or apply directly for finance by clicking here.

May 1, 2024 by admin | 0 comments

Finance

Faces Buy Now Pay Later / Finance FAQs

As a pillar of the aesthetics community, Faces has established itself as a resource hub for aesthetics. One key feature of Faces Buy Now Pay Later (BNPL), or Finance. From its seamless integration with our booking system to its benefits to your clinics, it’s a business booster you need!

Due to finance’s popularity with consumers, an increasing number of practitioners on Faces have registered to use this feature. There are a lot of questions surrounding this feature, and we are here to answer them! In this blog, we will cover the most common questions asked about finance. If you have any questions, please feel free to comment below!

Let’s go ahead and jump right in.

How do I promote Faces Buy Now Pay Later?

Once you get approved for this feature, there is an approved post that you can put on your social media accounts.

How can Faces Buy Now Pay Later help clinics or practitioners?

Buy Now, Pay Later empowers your clients to afford treatments by breaking down costs and increasing their willingness to choose more expensive treatments and packages.

Can I earn more from Faces Buy Now Pay Later?

Practitioners have reported a 29% increase in their sales by using the Buy Now, Pay Later feature, as their clients are more likely to book multiple treatments with this payment plan in place.

How do I get the money from my clients?

Once your client gets approved for finance, you will be paid within 24 hours after you’ve input the 4-digit PIN code, eliminating the need to chase payments.

How do practitioners or clinics sign up for Faces Buy Now Pay Later?

On your Faces dashboard, click ‘Finance Hub’ then ‘Register’. Fill out all the information, upload your documents, and sign below. Remember to click save.

What do I need to get approved for Faces Buy Now Pay Later?

To get approved, just fill out all the information needed and upload an updated insurance, training certificate, and photo ID.

I just got approved! How can I promote this?

You will receive a copy of the approved post that you can post on your social media accounts.

Is there a setup fee or a monthly fee?

No, there is no start-up cost or monthly fee. Setting up Faces Buy Now Pay Later on Faces is free.

I’ve just signed up. How long does it take to get approved?

Approval takes 24–48 business hours. If you still haven’t received a status update on your application. You can always message us through WhatsApp.

How can I offer this to my clients?

Once approved for finance, your clients can apply through the sent consent forms, your booking link, or by manually sending a link. Advertising that you offer finance is not allowed.

Conclusion

Faces’ Buy Now, Pay Later is a powerful tool that allows clients to book treatments sooner rather than later. With the troubled economy we are facing, aesthetic clinics or solo practitioners offering split payment options can increase their client base by presenting a solution to clients who don’t have disposable income right now. This act of service paves the way for strengthening client relations.

If you’re still unsure, you can always reach out to us by email, WhatsApp, or simply contact us at 01785558018.

April 19, 2024 by admin | 0 comments

Finance

Payment Plans Are Bad, But Is Cash Actually Worse?

Running a business is not a game. The Journal of Aesthetic Nursing has also listed several reasons why your aesthetic business could fail. Clinic owners and solo practitioners alike spend valuable time, effort, and focus in order to dish out excellent work for their clients. Every business wants to meet client expectations and offer the best experience for their clients. However, at the end of the day, practitioners want to get their hard-earned money back.

Though some would say they’re doing aesthetics for noble reasons or their passion, this still boils down to whether you’re making profits or not. But you might be restricting potential clients and profits by being stubborn about your choice of payments.

Let’s talk Payment Plans

“Are you offering payment plans or financing?” You might’ve heard this question from your clients before. We know some providers kill you with fees and interests when signing up and using their service. We also understand that it sometimes feels like a disservice rather than an advantage for your business. But have you considered your client’s perspective on this matter?

Not all aesthetic treatments are affordable. We have treatments like bum fillers or customised packages that will leave a gap in the client’s finances when they pay cash. How would you attract clients when you’re not giving them a choice?

Payment plan as an alternative

Another example to look at is how your business will feel about clients. Aesthetic treatment is a luxury, but to position it as something unattainable will turn off a lot of clients! Cash offers simplicity, while payment plans offer affordability even for the most lavish treatments.

“If they can’t afford the treatment, they shouldn’t have it.” That’s some tough love! We know you’re promoting responsible spending, but client reasons differ from each other. We have clients waiting for their paycheck, a person who doesn’t want to spend their own money, and someone who wants to spread their payments. Consider and establish a healthy relationship by offering payment plans.

Cash upfront—a turn-off?

Paying cash upfront may hinder your clinic’s cash flow too. Clients who want to use payment plans now will be forced to look at other clinics that offer the same treatment with flexible payment options. Instead of reaching back out to you after a couple of months, the risk of losing clients is far greater.

“The fees are just too expensive.” That’s the way people think of it for the first time. Those fees and startup costs at different finance companies are there for 3 key reasons. They take on the risk of your clients not paying in full; they do a soft credit check; and they’ll be the ones following up on your clients for late payments. They are also here to make money, and clinics just need to outsmart the system. Find a pharmacy that offers the same products at a cheaper price, or you have the option to increase your treatment price if you like.

“Stop pushing your narrative about it! ”We won’t.

The hard truth here is that in order for you to attain that “100k a year,” you need to make the right decision. Offering flexible solutions to your client’s problems will ensure that you’re a step closer to your financial goals. Especially if you’re offering high-end treatments and packages, payment plans are a great way to encourage clients to spend!

Amidst the confusion, there’s a solution.

With all these advantages and disadvantages presented, you might find it hard to make a choice. But what if Faces can help? Faces, with its partnered finance company, has the capacity to give you the power to take in cash payments or offer Buy Now, Pay Later. No start-up costs, takes a few minutes to apply, and seamlessly integrates with Faces’ booking system. Don’t make your clients lose hope in gaining their confidence. Sign up through Faces by clicking here, and let’s make your clients happy!

March 26, 2024 by admin | 0 comments

Aesthetics

Faces | Pay Later: Revolutionising Payments in Aesthetics Industry

When you think of beauty and aesthetics, visions of Botox, hair extensions, or body sculpting might float into your mind. These treatments, often seen as luxuries, offer more than just physical enhancement. They boost self-confidence and offer a renewed sense of self-worth.

But there’s a catch: the cost. Many of us hesitate, wallets in hand, questioning if we can afford to feel and look our best. This is where Payl8r steps in.

What’s Payl8r?

Simply put, Payl8r is a finance buddy for your beauty needs. It’s the UK’s go-to finance provider for everything beauty and aesthetics. Their goal? To make sure everyone can enjoy aesthetic treatments, without breaking the bank.

Why Choose Payl8r?

Here are the reasons why you should choose Payl8r:

Tailored to Your Pocket: Payl8r knows everyone’s different. That’s why they let you choose how you pay. Want to spread your payment over 3, 6, 9, or 12 months? They’ve got you covered.
Interest? No Thanks!: If you settle your loan within the first 30 days, you won’t pay any extra. That’s right, it’s interest-free!
They Care: Payl8r isn’t just about offering finance. They want to make sure you’re in a good place to repay. So, they’ll check if the repayment plan suits you. It’s their way of ensuring you don’t bite off more than you can chew.

Clinics, Here’s Why You Should Join Hands with Payl8r

Here are why clinics should partner with Payl8r:

Welcome More Clients: With flexible payments, more clients will walk through your door. Those who hesitated due to costs might now consider treatments.
Stress-Free Experience: No one wants to stress about money when they’re about to get pampered. Offering Payl8r means your clients can relax from start to finish.
Boost Your Revenue: With the money aspect eased out, clients might try more treatments. For you, this means more business.

Conclusion

Beauty treatments are more than just luxury. They’re a path to feeling and looking great. Payl8r ensures that the path is clear of financial hurdles.

Clinics, by partnering with Payl8r, you promise your clients an experience that’s smooth, right from the first consultation to the final payment. And for those dreaming of the next beauty treatment? Dive in, knowing Payl8r has your back.

August 21, 2023 by Ben O'Brien | 0 comments

Finance

Faces | Payl8r: The Flexible Finance Solution

Navigating the financial landscape of the beauty and aesthetic industry can be daunting for both practitioners and clients. Enter Payl8r, the leading finance provider that’s revolutionising how clients access and pay for treatments. Payl8r empowers your clients to spread the cost of treatments over a manageable period while giving you the peace of mind of timely payments.

The Power of Payl8r

What sets Payl8r apart is the flexibility it brings to your clients’ financial planning. Clients can choose to spread the cost of treatments over 3, 6, 9, or even 12 months, making treatments more affordable and accessible. Plus, if a loan is paid back within the first 30 days, it’s entirely interest-free, further enhancing the attractiveness of this payment option.

Responsible Lending

Payl8r is committed to responsible lending, ensuring that loans are offered to clients who can comfortably afford repayments. Affordability checks are conducted before loan approval, offering you and your clients further peace of mind.

Simple Application Process

Payl8r offers a streamlined application process through various methods. Whether it’s through a consent form that you forward to the client, directly from the Faces clinic search, or a direct finance link from the Faces app or website, clients can easily proceed with the finance application at their convenience.

What’s the Cost?

The service fee for using Payl8r is 10%, which covers administrative expenses. While there is a cost involved, the benefits of increased bookings and customer satisfaction, coupled with the convenience and flexibility offered to clients, often outweigh this investment.

Seamless Transactions

Once a client is approved, the transaction process is smooth and efficient. You’ll receive an email confirmation of the approval, and on the day of the treatment, the client confirms the transaction via their email. You then receive a unique 4-digit code to enter into your app, completing the transaction. The funds are transferred directly to your bank account the next business day, ensuring a swift payment process and optimal cash flow for your business.

The Payl8r Advantage

In a nutshell, Payl8r offers a competitive advantage in the thriving beauty and aesthetic industry. It makes high-cost treatments more accessible to your clients, enhances your client base, and provides an efficient, streamlined transaction process. With Payl8r, your focus can remain where it should be – on providing exceptional beauty and aesthetic treatments – while they handle the financial side, making it a win-win for everyone.

Join Faces Today and Unlock the Power of Payl8r

To harness the benefits of Payl8r’s flexible finance solution and broaden your client base, start by signing up with Faces. With a straightforward app download and account creation, you can join the new wave of aesthetic treatment financing. Faces, in partnership with Payl8r, is committed to helping you succeed by making your services accessible and affordable to a wider audience.

Join Faces and embark on this transformative journey with Payl8r today, reshaping the beauty and aesthetic industry, one treatment at a time.

July 20, 2023 by Ben O'Brien | 0 comments

Finance

Empower Your Clients and Boost Your Practice: The Unveiled Advantages of Integrating Faces Pay Later!

Are you on a mission to provide the best aesthetic services to your clients but are often hindered by the financial constraints they face? Do you wish there was a way to make your top-notch treatments more accessible to a wider audience? Well, your search ends here! Introducing Faces Pay Later, a groundbreaking split payment option designed to revolutionise the world of aesthetic and beauty treatments in the UK.

In this blog, we’ll delve into the powerful benefits that integrating Faces Pay Later can bring to your aesthetic clinic. Get ready to elevate your practice to new heights and lead the way in the aesthetic and beauty industry!

1. Financial Flexibility

With Faces Pay Later, you can offer your clients the chance to split their payments into smaller, more manageable instalments. This financial flexibility allows them to invest in their desired treatments without the burden of immediate payment, effectively widening their clientele base and reducing the financial barriers to high-quality aesthetic treatments.

2. Make High-Quality Treatments More Accessible

Offering Faces Pay Later at your clinic could be the game-changer your potential clients have been waiting for. It opens the door to those premium aesthetic treatments that clients may have deemed too expensive in the past. As a result, you’ll attract a wider audience, increasing your clinic’s bookings and revenue.

3. Confidence Booster

Offering a financial solution like Faces Pay Later not only helps clients afford their desired treatments but also boosts their confidence and self-esteem. After all, the impact of aesthetic treatments goes beyond the surface—it contributes to overall well-being and self-assuredness.

4. Enhance Customer Loyalty and Attract New Clients

By providing this flexible payment solution, you foster long-term relationships with your clients, encouraging repeat business and enhancing customer loyalty. It’s a win-win solution that leads to increased bookings, revenue, and a loyal client base.

5. Streamlined Payments

Faces Pay Later simplifies the payment process for both your clients and your clinic. The easy-to-use online forms and secure transactions can save your staff time and effort, allowing them to focus more on providing exceptional service to your clients.

6. Stay Ahead of the Curve

As the aesthetic and beauty industry continues to evolve, the demand for flexible payment options like Faces Pay Later is expected to grow. By integrating this split payment option into your clinic’s systems, you’re positioning your clinic as a forward-thinking business, keeping you ahead in the competitive UK market.

Conclusion

It’s time to elevate your aesthetics business and ensure long-term success in the competitive aesthetic and beauty market by integrating Faces Pay Later. By doing so, you’ll empower your clients with financial flexibility, widen access to high-quality treatments, and boost client confidence.

May 15, 2023 by Ben O'Brien | 2 Comments

General, Aesthetics

Faces Pay Later: A Win-Win Solution for Clients and Aesthetic Clinics Alike

In today’s fast-paced world, convenience and flexibility are key to maintaining a competitive edge in any industry. For aesthetic clinics, this means keeping up with the latest technologies and payment options that cater to the needs and preferences of a diverse clientele. One such innovation that has been making waves in the beauty industry is Faces Pay Later, a buy now, pay later (BNPL) solution that enables clients to invest in their aesthetic and beauty goals without worrying about costs.

In this blog post, we’ll dive into the world of Faces Pay Later and explore how this win-win solution is benefitting both clients and aesthetic clinics alike.

Why Faces Pay Later is a Game-Changer for Clients

At the heart of Faces Pay Later is the understanding that aesthetic and beauty treatments are an investment in one’s self-esteem and overall well-being. However, these treatments can be costly, especially when clients opt for high-quality services and products. By offering a flexible payment solution, Faces Pay Later empowers clients to choose the treatments they desire without the financial burden of immediate payment.

Here are some of the benefits that Faces Pay Later brings to clients:

1. Financial Flexibility

With Faces Pay Later, clients can split their payments into smaller, more manageable instalments. This allows them to budget their expenses more effectively and avoid getting into debt.

2. Increased Access to Treatments

The availability of a BNPL option like Faces Pay Later makes high-quality beauty treatments more accessible to a wider audience, as clients can now opt for services they may have previously considered too expensive.

3. Boosted Confidence

By allowing clients to invest in their goals without financial stress, Faces Pay Later helps boost their confidence and self-esteem.

How Aesthetic Clinics Can Benefit from Faces Pay Later

The advantages of Faces Pay Later extend to aesthetic clinics as well, as the service helps them attract more clients, enhance customer loyalty, and streamline their payment processes. Here’s how this innovative solution benefits clinics:

1. Attracting New Clients

By offering a flexible payment option like Faces Pay Later, clinics can appeal to a broader range of clients who may have hesitated to book treatments due to cost concerns. This can lead to increased bookings and revenue.

2. Enhancing Customer Loyalty

Clients who have a positive experience with Faces Pay Later are more likely to return to the same clinic for future treatments. By providing a convenient and stress-free payment solution, clinics can foster long-term relationships with their clients and encourage repeat business.

3. Streamlining Payment Processes

Faces Pay Later simplifies the payment process for both clients and clinics. With easy-to-use online forms and secure transactions, clinics can save time and effort, allowing them to focus on providing exceptional service to their clients.

How to Integrate Faces Pay Later into Your Aesthetic Clinic

Integrating Faces Pay Later into your aesthetic clinic’s payment system is a straightforward process. Clinics can offer customers the availability to split payment options in three ways:

Directly through a Consent Form: Incorporate Faces Pay Later as a payment option on your clinic’s consent form. This enables clients to choose the BNPL option when signing up for treatments.

Directly through the Faces Booking Form: Add Faces Pay Later as an option on your clinic’s booking form. This makes it easy for clients to select the BNPL option when scheduling their appointments.

Forward a Finance Link Directly to the Customer: Send a finance link to your clients, allowing them to access and sign up for Faces Pay Later at their convenience.

Note: Clinics offering Faces Pay Later will be charged a 10% administrative fee for the service. This fee covers the costs associated with providing this innovative payment solution and ensures that clinics can continue offering this attractive option to their clients.

The Future of Faces Pay Later in the Beauty Industry

As the aesthetic and beauty industry continues to evolve, the demand for flexible payment options like Faces Pay Later is only expected to grow. As more and more clients become aware of the benefits of BNPL solutions, aesthetic clinics that offer these services will likely see a significant increase in bookings and overall revenue.

Additionally, by incorporating Faces Pay Later into their payment systems, clinics can position themselves as forward-thinking establishments that prioritise client satisfaction and convenience.

Conclusion

Faces Pay Later is a win-win solution for both clients and aesthetic clinics, as it provides a flexible payment option that makes high-quality aesthetic and beauty treatments more accessible to a wider audience. By integrating this innovative solution into their payment systems, clinics can attract new clients, enhance customer loyalty, and streamline their payment processes. As the beauty industry continues to evolve, offering Faces Pay Later is a surefire way for clinics to stay ahead of the curve and ensure long-term success in a competitive market.

Don’t miss out on the opportunity to revolutionise your aesthetic clinic’s payment options and cater to your clients’ needs. Embrace the future of beauty financing with Faces Pay Later and experience the benefits of this win-win solution for yourself.

May 11, 2023 by Ben O'Brien | 1 Comment

Finance, General

Customer Finance: How To Offer Financing To Your Clients Now

Offering your customers finance choices, such as point-of-sale (POS) financing options and 0% interest credit, may be precisely what your company needs to succeed if you’re seeking ways to edge out the competition.

There are various financing solutions available. These solutions can help your clients proceed with getting your services. Providing finance solutions also helps you with your business in getting more clients.

What Is Customer Finance?

Customers can utilise customer finance, a payment plan, to buy products or services from your company. A third-party source you’ve associated with offers the customer financing, enabling them to immediately obtain their items and pay for the transaction over time.

Customer finance companies differ in how their repayment plan fees are structured: some offer interest-free plans, while others may charge interest or fees to customers for using the service. A merchant fee is usually required to provide the service to your clients.

How Is Customer Finance Offered?

There are two main ways to provide customer financing:

In-house customer financing – in which you set up and manage your monthly payments

Customer financing – is provided by a third party in which a provider manages the process of approving a customer for credit and keeping track of monthly repayments.

What Is In-House customer Financing?

If you want to offer in-house customer financing, plan on spending time managing the process and training employees. You’ll need to figure out how to verify a customer’s creditworthiness. You want to ensure you only lend to people who can repay you.

Depending on the volume, in-house customer financing can be much more time-consuming than a third-party customer financing service. You’ll need to create your process and track customer payments.

Because some third-party customer financing companies do not charge merchant fees, it may be more expensive if you need additional help to track the outstanding payments.

What Is Third-Party Customer Financing?

Third-party customer financing delegated to an outside provider the work of setting up and monitoring the programme. You offer your customers the option to pay with a financing option rather than running a credit check, offering financing plans, and tracking monthly payments.

The business is frequently paid in advance if a third-party payment provider approves a customer. As a result, your customer will pay the provider rather than you, as they would with a credit card.

This means less work for you, but there may be additional costs. For example, as a merchant fee, you may be charged a percentage of each transaction, though this may be comparable to what you’d pay to accept credit cards or other payment options.

Customer financing from a third-party provider can be obtained in the following ways:

The business advertises the availability of a payment option: Depending on how customers make purchases, companies will either do so on their website when purchasing a product or at their point-of-sale system.
If the customer chooses a financing option, the customer or a business employee can fill out a short application to apply for financing.
The customer completes the transaction, and the business receives full payment: Approval should occur in seconds. The industry could receive full payment from the financing company if it is approved and the customer purchases.
After making the purchase, the customer will receive the product and begin making payments to the seller.

Customer Finance For A Smooth Transaction

When trying to close a deal, the last thing you want is for your customer to say they can’t afford it. But what if you could offer them financing and get them the products or services they need now?

With creativity and understanding of your client’s needs, contributing to finance can significantly increase sales without breaking the bank. By following these simple tips, you can start offering financing options to your clients.

There are ways to get customer financing, even in the aesthetics industry. That is why faces have made it easy for you as a client and a medical practitioner. Create an account at faces and access the faces finance page to get more options when it comes to financing.

Download the faces app now.

January 17, 2023 by Ashley Simpson Davies | 0 comments