20 Mar The Idea Virus Called Build Now Pay Later
The Build Now Pay Later (BNPL) payment scheme offered not just a financial breather for clients, but a transformative approach that could change the way the industry works.
BNPL is a 6-plus-year old concept created with precision and played out with and a ton of brainpower. Doing the math would mean that BNPL came first before Stalwart Philippines did. This paints a picture of the program’s deliberateness, executed not as an afterthought.
BNPL had its beginnings during the company’s founder Davin Acuram’s heydays in the banking industry. The idea hatched in the environment of real estate and construction lending where clientele underwent the rigorous process only to get cold feet in the end. Out of curiosity, Mr. Acuram asked around and found out that clients backed out primarily because of equity requirements and other upfront fees. The pitfall resulted to a statistical three out of ten accounts that would continue on. The rest of the 70% vanished into thin air—an untapped potential that was whisked away due to failure in addressing the gaps in client-to-bank “monetary participation.”
This background provided the vantage point that required builders to be able to “creatively address” these financial gaps.
Under Stalwart’s watch, BNPL is currently in full swing, and its figures hit highs that are “unmatched, unparalleled in the market of design and build.”
Where other financing packages would yield a 50% closing ratio if you are lucky, BNPL comes at a superbly high batting average of almost 100 percent. The latter scheme closes at a virtually done deal for every client, a one-two punches sure to deliver a knock-down.
Instead of the typical requirement 20 to 30% equity by the clients, Stalwart takes charge of this and all of the upfront fees with gains in ROI not by the tenfold—but close to infinite.
Where the rubber meets the road is also the way the program was packaged. The intricacies inside must reflect outward towards the end-users. With this, Stalwart champions in providing the right key messages paired with digital aesthetics that invite a wide range of potential clients. Build Now Pay Later is an idea-virus spreading like wildfire.
Early naysayers to the concept and current industry powerhouses are both scraping the sidelines to find out how Stalwart did it. To be clear, the BNPL is neither a patented idea nor is it a new discovery in the modern world. So, even the time when others follow suit is anticipated.
By that time, when BNPL flourishes among the other firms around, it is not competition that is on Stalwart’s mind. It is shared growth, and ultimately, an overall contribution to a common interest of NATION BUILDING.