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In today's business landscape, flexible payment methods are crucial. Modern customers value payment flexibility and a smooth payment experience. 75% of digital buyers—modern customers, especially millennials and Gen Z, prefer flexibility in payment plans. Businesses must adapt to this evolving preference to thrive.

Check Out Our Guide to See How Payment Plan Software Can Help Your Business To Grow!

As customers' payment preferences constantly evolve, an efficient payment option solution is vital for businesses to stay afloat.

But before we get into choosing the right one, let’s explore what flexible payment options are, their types, and the benefits of offering them to customers.

Flexible Payment Plans: Why Do They Matter?

A flexible payment plan allows your customers to pay for services over time. Providers can use payment solutions (like Denefits) to offer flexible payment methods to customers on demand. So, you can serve customers from a variety of financial backgrounds. 

Integrating payment solutions that enable payment flexibility emphasizes a customer-centric approach. It means the more payment options are available, the more conversions you can enjoy.

Types of Payment Plan Options to Consider

There are various types of payment options you can offer, including

(A) Buy Now, Pay Later (BNPL)

As per C+R Research’s 2021 report, more than half of Americans (56%), prefer BNPL services over credit cards.

The BNPL option allows customers to split their bills into smaller installments. For example, AfterPay is a BNPL service provider that lets customers pay their medical bills in four interest-free installments. Other popular BNPL providers include Apple Pay Later, Klarna, and Sezzle.   


  • You receive a partial advance payment (minus the BNPL provider’s fee), with the remaining amount in installments.
  • The BNPL service provider handles the recovery from the customer. So you can focus more on other crucial business tasks.


  • Limited Flexibility: The BNPL provider sets payment plan terms. Hence, any customization or modification in payment terms is not possible or highly restricted.
  • Customer Relationship: As the BNPL provider deals with the customer, there is less opportunity for building customer relationships and loyalty. 
  • Impact of Negative Experiences: If a customer has a negative experience with the BNPL provider, it may reflect badly on the associated business.

(B) Long-Term Flexible Payment Plans

The BNPL option may not be ideal for all. Moreover, they have rigid terms. In that case, flexible payment plans are more suited for businesses that prioritize offering tailored payment options to customers. 

Payment solutions like Denefits let businesses instantly create payment plans tailored to customer’s preferences. So, you have more control over setting up payment plan duration and terms. For instance, you can set up payment plans for 3 months to 48 months.  


  • More flexibility to customize. 
  • Less stringent credit check requirements.
  • Hassle-free approvals.
  • Automated payment plan management and monitoring.
  • Easy website integration.


  • Not suitable for businesses offering services that cost too little or don’t often require financing, i.e., less than $300.

(C) Payment Plans with Deferred Interest

These are specialized plans that allow customers to pay for services without any interest during the deferral period. So, the customers can pay off the full amount within the specified time to avoid interest charges. 


  • Helps attract more conversions and boost sales opportunities.
  • Foster better customer relationships as it emphasizes a customer-centric approach.  
  • Encourages repeat business.
  • Eases financial constraints on customers while promoting consistent revenue.
  • Helps build a positive brand image.


  • Complex terms: Sometimes misunderstandings occur with customers as the terms and conditions of deferral plans can be complicated. Hence, it is crucial to discuss them beforehand and clear any doubts that customers may have.

Top Benefits Of Offering Flexible Payment Options

Integrating a payment solution and providing payment plans can benefit your business in many ways, such as:

1. Boost Sales Loyalty

Providing customers with the freedom to choose the payment plans they want leads to increased traffic and more sales. Additionally, it gives you more opportunities to nurture long-term customer relationships, encouraging repeat customers and loyalty.

2. Steady Cash Flow

By offering flexible payment plans, you can enjoy predictable recurring payments and reduce cash flow fluctuations. It translates to steady revenue growth for your business. Moreover, Denefits sends automated reminders to customers before the due date so they can pay on time without missing a payment.

3. Attract Diverse Customers

Flexible payment options can easily accommodate the budgets of customers from diverse financial backgrounds. It means even those customers who couldn’t afford your services before can opt for them, expanding your reach to untapped markets.

4. Operational Efficiency

Integrating a flexible payment option solution can also mean improved operational efficiency. For instance, Denefits comes with features like automated payment plan monitoring, which keeps accurate track of each contract. You can easily access the details from its dashboard, saving you time and resources.

5. Improve Customer Satisfaction

When customers have the option to pay in easy installments, it eases their financial strain. As a result, it gives them peace of mind and boosts overall satisfaction. Hence, this approach can also help build a positive brand image and bring you more revenue growth opportunities.

6. Reduce Bad Debt Risk

Unpaid invoices and bad debt can be the worst nightmare for any business, big or small. However, offering your customers the flexibility to pay via affordable monthly payments can help reduce the risk of overdue payments. 

Additionally, if you opt for the Denefits payment solution, you can also enjoy protected payments. So, you won’t have to worry about missed or late payments.


As more modern customers prefer payment flexibility, businesses must adopt cutting-edge payment solutions to meet their needs. There are several options available in the market, from Buy Now, Pay Later (BNPL) services to long-term flexible payment plans and options with deferred interest.

The key to financial growth is choosing the right option that best aligns with your business goals and serves your customers. So, sign up to tap into the potential growth opportunities today!

FAQs: Answering Your Queries on Flexible Payment Options

1. Why Is It Important To Offer Flexibility In Payments?

It allows more customers to buy your services and pay for them in convenient installments. Hence, it attracts more customers and makes it easier to boost on-the-spot conversions. Also, most new-age customers prefer to pay digitally via flexible payment options rather than credit cards. Thus, offering a flexible payment plan, or BNPL, is crucial.

2. How Do I Determine Which Payment Options Are Suitable For My Business?

It depends on several factors, such as the nature of services, business goals, and customer preferences. For instance, if your business offers high-cost or long-term services (e.g., dental braces, implants, Invisalign), offering flexible payment options is your best bet. 

If you need help choosing the right payment plan solution, reach out to our team for free assistance.

3. How To Offer Flexible Payment Options?

All you need to do is integrate a ready-to-use payment solution like Denefits. It comes equipped with advanced features to automate payment plan management. So, you can create payment plans as needed, personalized to your customer’s needs. 

4.Why Choose Denefits?

The best thing about integrating a flexible payment plan solution like Denefits is that most customers get approved instantly, no matter their credit score. It has a ‘No Credit Check’ policy that makes it a more inclusive option for customers.  

It lets businesses instantly create payment plans tailored to customers’ preferences. Also, Denefits protects your payments, so you can ensure you get paid what you deserve without worrying about late or missing payments.

Schedule a consultation or book a demo to learn more.