What is Buy Now Pay Later?
Buy Now Pay Later (BNPL) is a modern payment method that allows customers to purchase products immediately and pay for them over time through interest-free installments. Unlike traditional credit cards, BNPL offers transparent, fixed payment schedules with no hidden fees or compounding interest.
The BNPL Process
Customer Selects BNPL
At checkout, customers choose Buy Now Pay Later as their payment method instead of paying in full.
Instant Approval
BNPL providers like Klarna, Afterpay, Affirm, or Zip instantly approve the customer based on simple criteria.
Business Gets Paid
You receive the full payment amount immediately (minus a small 2% platform fee), while the customer pays over time.
Customer Pays Installments
Customers pay in equal installments (typically 4 payments every 2 weeks) with no interest or fees when paid on time.
Benefits for Businesses
Increase Sales by 20-30%
Studies show BNPL increases conversion rates and average order values significantly.
Get Paid Immediately
Receive full payment upfront while customers pay over time - zero risk to your cash flow.
No Credit Risk
The BNPL provider assumes all credit risk - you're guaranteed payment regardless of customer defaults.
Attract Younger Customers
Millennials and Gen Z prefer BNPL over credit cards - meet your customers where they are.
Benefits for Customers
No Interest
Zero interest when payments are made on time
Budget Friendly
Spread costs over time without breaking the bank
Quick Approval
Instant decision with minimal information required
Credit Building
Build credit history without a credit card
How BuyNowQR Makes BNPL Easy
BuyNowQR integrates with leading BNPL providers (Klarna, Afterpay, Affirm, Zip) through a single platform:
- QR Code Checkout: Customers scan and instantly access BNPL options
- Automatic Processing: All installment collections handled automatically
- Only 2% Fee: Our platform fee is significantly lower than credit card processing
- Real-time Analytics: Track BNPL adoption and revenue in your dashboard