The Buy Now Pay Later (BNPL) trend has been around for quite a few years but is just starting to really boom in the consumer products world.
Many Consumers are familiar with BNPL in terms of shopping from trusted retailers, however, many don’t see the benefits of applying that concept to personal transactions that can happen “face-to-face”.
The issue with the traditional format is that it doesn’t allow consumers to alter the payment schedule, and moreover, if you are shopping BNPL frequently these loans can add up!
They can even impact your FICO score by having several smaller loans in your name at once!
At WinWinX we wanted to mitigate many of these common pitfalls and put the financial power back in the hands of our Users.
We believe that our format of making “Payments Over Time” person to person is the next big step in the BNPL industry.
Many of the BNPL loans given out to consumers traditionally take the purchase total and equally divide it into 4 smaller “bite-sized” payments.
There’s no wiggle room for altering these terms; we just disagree with that!
With WinWinX you have to ability to submit Counteroffers, with altered terms of purchase, on Marketplace Listings for Sellers to consider.
WinWinX allows consumers to choose their down payment amount, installment amount, and even installment frequency.
We understand that life can’t always be equally divided by 4, and we want YOU to have the power to make purchases on YOUR terms!
When a Product Listing allows Counteroffers, the Buyer & Seller have the power to create agreeable terms for both parties.
The WinWinX platform allows for constructive back-and-forth conversations between Buyers & Sellers to encourage win-win situations!
Additionally, if you’re looking to shop using BNPL on a frequent basis the other problem that can arise is having multiple “micro-loans” under your name at once!
Having several different loans from different BNPL firms can have a negative impact on your FICO score, and we just don’t think that makes sense.
You might not realize it, but shopping at different retailers with the same BNPL firm can count as separate, individual loans that are all taken out at the same time!
You shouldn’t be penalized for shopping with BNPL, and we don’t agree with how you’re really at the will of other firms & what retailers they have partnered with!
At WinWinX we handle Payments Over Time in a completely different way. We make them peer-to-peer!
Because the WinWinX Marketplace is peer-to-peer selling you’re dealing with real people, so your transactions should be handled as such.
I think this significant difference between our platform, and everyone else should be brought to the top of this document
Instead of giving out loans expected to be paid back with strict terms, WinWinX uses bank transfers (ACH) to move money between Buyer & Seller.
All this means for you is that all aspects of the transaction (your down payment and any installments) happen automatically from bank to bank as agreed upon.
Think more “Accounts Receivable” & less “ High-Interest Loans”.
There’s no reporting to FICO, no hidden fees, and no hassle!
BNPL has only just begun its incredible climb to the top of consumers’ minds when making purchases online, but we want our Users to make the most educated purchases possible!
Making Payments Over Time for the products and services you need is the clear path forward in 2023.
We want our Users to have peace of mind that they’re getting what they need without any “funny business” because that’s how you create Win-Win scenarios for everyone, not just the major financial firms!
Check out the WinWinX Marketplace anytime HERE & start submitting Counteroffers today!