In this article, I will review some of the best Buy Now Pay Later providers and how they can help boost conversions, enhance customer flexibility, and improve the overall performance of your sales.
Affirm, Klarna, Afterpay, PayPal Pay Later, and others help improve customers’ satisfaction by streamlining the checkout processes. Lets look at the best BNPL provider for your business.
Key Points & Best BNPL Providers For Your Business
| BNPL Provider | Key Point |
|---|---|
| Affirm | Best for selling on Amazon |
| Klarna | Strong global reach and flexible payment options |
| Afterpay | Popular among younger shoppers, easy installment plans |
| PayPal Pay Later | Trusted brand with wide merchant integration |
| Zip | Flexible repayment schedules and strong US presence |
| Sezzle | Focus on ethical credit and customer loyalty |
| Splitit | Uses existing credit cards, no new loans required |
| Perpay | Best for credit-building and payroll-linked payments |
| ViaBill | Strong in European markets with simple checkout integration |
| Sunbit | Specializes in everyday purchases like auto repair and healthcare |
10 Best BNPL Providers For Your Business
1. Affirm
As one of the leading and most popular financing institutions, Affirm provides seamless solutions for online merchants and straightforward terms for consumers.
Customers are able to choose Affirm Financing and are able to break their purchases into shorter durations, making payment plans zero interest, and extending payment terms at a low interest.
This allows merchants to capture the increment of their sales by enhancing and improving their overall conversion rates. Affirm is able to be approved on most merchant accounts and integrates efficiently into big commerce such as Shopify, Woo and other e commerce platforms.
| Feature | Description |
|---|---|
| Payment Options | Interest-free & low-interest installments |
| Credit Check | Soft check only |
| Merchant Payout | Full upfront payment |
| Integration | Shopify, WooCommerce, BigCommerce |
| Risk Handling | Affirm takes repayment risk |
| Impact | Higher conversions & AOV |
2. Klarna
Klarna is highly regarded in the BNPL sector. Klarna allows customers to choose from multiple flexible payment plans; customers can “Pay in 4 (4 installments) Pay in 30 days or arrange long-term financing.
Klarna caters to millions of customers, making it a good option for businesses with global reach. Concerns about payment and credit risk can be a significant worry for businesses, but Klarna manages and mitigates these risks by paying businesses in full and processing customer payments over time.
Klarna also offers businesses a dashboard with many payment options, marketing tools, and credit risk mitigation. Many customers keep coming back to Klarna, making it a great option for businesses looking to increase customer retention.
| Feature | Description |
|---|---|
| Payment Options | Pay in 4, Pay in 30, long-term financing |
| Global Reach | Widely available internationally |
| Marketing | In-app brand visibility |
| Risk Handling | Klarna covers customer risk |
| Integration | Multi-platform support |
| Benefits | Reduced cart abandonment |
3. Afterpay
Afterpay is designed to suit younger consumers looking for an interest-free installment payment plan due to the company’s simple ‘pay in weeks’ plan. Afterpay attracts consumers’ impulsive shopping behaviors while providing checkout ease to minimize lost sales due to cart abandonment.
By paying merchants the full amount of the purchase, Afterpay assumes the risk of managing collections on defaulted loans. Afterpay is primarily a collection of fashion
Beauty and lifestyle brands, and merchants can freely advertise their business to Afterpay’s app users in exchange for increased revenue. Afterpay’s integration and value make it one of the leading providers to offer instant BNPL access.
| Feature | Description |
|---|---|
| Payment Plan | Pay-in-4 interest-free |
| Credit Check | Not required |
| Ideal For | Fashion & lifestyle brands |
| Marketplace | Free merchant promotion |
| Risk Handling | Afterpay takes liability |
| Benefits | Increased repeat customers |
4. PayPal Pay Later
Using PayPal Pay Later lets businesses take immediate advantage of PayPal’s extensive customer base and trusted Buy Now Pay Later (BNPL) offerings, like Pay in 4 and monthly financing.
Many customers have PayPal accounts, meaning customers can’t check out faster, and businesses face fewer integration friction. Merchants can easily implement PayPal Pay Later with most eCommerce solutions, and because PayPal bears all credit and fraud risks, businesses get paid upfront.
Customers see BNPL options in PayPal’s familiar and trustworthy checkout interface, fostering confidence. PayPal’s seamless and secure service, extensive reach, deep experience, and trusted brand make PayPal Pay Later great for businesses.
| Feature | Description |
|---|---|
| Payment Options | Pay in 4 & monthly financing |
| Advantage | Massive global PayPal user base |
| Risk | PayPal covers fraud/credit issues |
| Integration | Compatible with all platforms |
| Payout | Immediate |
| Benefit | High trust = higher conversions |
5. Zip
Zip (formerly Quadpay) has flexible Buy Now Pay Later options, as customers may choose to divide their total sum into four equal payments that are interest-free. Customer purchasing power increases, customers are able to afford more items, and businesses earn more money.
Zip operates in more than just retail such as travel, gaming, and different services. Zip is able to work with all types of businesses that sell to a multitude of different customers.
While Zip does customer payment management and takes on repayment risks, merchants are able to get their whole payment up front. Partner merchants are able to direct their customers to Zip’s mobile app, which increases visits. Zip has strong customer and merchant positive trends that are improving businesses’ conversion rates and order values.
| Feature | Description |
|---|---|
| Payment Plan | Pay-in-4 |
| Industries | Retail, travel, gaming |
| Integration | Easy; API available |
| Merchant Payout | Upfront |
| App Promotion | Yes, via Zip app |
| Benefit | Increased order values |
6. Sezzle
Sezzle presents the most attractive and most consumer-friendly payment plans with interest-free installments and flexibility. For the BNPL payment plan target audience, specifically the younger demographic and the most socially aware customers, the ethical and socially responsible underwriting, as well as the credit-building features, resonates well.
Businesses also get the credit of receiving full payments upfront, as Sezzle integrates seamlessly with companies and view’s onboarding as simplicity itself. Sezzle also advertises companies on its marketplace, which has a large userbase.
Flexible payment plans and rescheduling options work to improve satisfaction and quell cart abandonment. Dealing with smaller companies gives Sezzle a unique advantage and reputation, as does their transparent fee structure and coverage. Overall, Sezzle has become an exceptional and rare BNPL partner.
| Feature | Description |
|---|---|
| Payment Plan | Interest-free installments |
| Credit Building | Yes |
| Rescheduling | Allowed |
| Marketplace | Yes |
| Merchant Payout | Immediate |
| Benefit | Higher approval rate |
7. Splitit
Customers don’t need to be approved for a line of credit through Splitit. Users can simply pay via any credit card with a sufficient limit, meaning no credit checks are necessary, no interest will accrue, and no additional applications need to be completed.
The checkout process is easy and also very streamlined. Any purchases Splitit will process will be at no risk to the business. Splitit simply holds the installment amount on the credit card, meaning the business will receive the full payment and can minimize the risk of cart abandonment.
Splitit can be integrated with any of the major eCommerce providers, and can even be fully branded to fit the needs of the business for payment processing. Since Splitit operates the way it does, businesses are perfect for any large purchases, such as electronics, travel arrangements, and furniture.
| Feature | Description |
|---|---|
| Payment Model | Uses available credit card limit |
| Credit Check | None |
| Ideal For | High-ticket items |
| Merchant Payment | Upfront |
| Integration | Global card support |
| Benefit | No loans, no interest |
8. Perpay
Perpay is interesting because they pay through payroll deductions and not need a credit check. This works out especially well for people who struggle with credit or who have inconsistent access to financing.
Perpay covers their businesses with non-recourse financing for any risk. Perpay is good for businesses and merchants because electronics and appliances can be essential for some lifestyles. Perpay allows merchants to gain exposure to their built-in marketplace.
| Feature | Description |
|---|---|
| Payment Model | Payroll deductions |
| Credit Check | Not required |
| Speciality | Essential goods & electronics |
| Marketplace | Yes |
| Merchant Payout | Upfront |
| Benefit | Very low customer risk |
9. ViaBill
ViaBill is PASSF and offers interest free installments for their clients. Clients can make purchases and split them into monthly payments, and merchants receive quick payments. ViaBill is built for businesses because they have quick integration and retained full risk for themselves.
They support international merchants, making them good for any businesses. They are also well-known for their service. Good tools for tracking are available as well as a good simple tracking user interface, making it effective for merchants and businesses. This is designed to be supportive to businesses.
| Feature | Description |
|---|---|
| Payment Plan | Monthly installments |
| Target Merchants | Small & mid-sized stores |
| Credit Check | Light or none |
| Country Coverage | International |
| Merchant Payout | Immediate |
| Benefit | Transparent, easy setup |
10. Sunbit
Sunbit is a provider of BNPL tailored to the primary services of automotive repair, dental care, and other daily activities. Sunbit specializes in financing customers at a higher approval rate who have trouble qualifying for other forms of traditional credit.
For businesses, Sunbit is easy to onboard, offers real-time approvals, and sends guaranteed payments, while Sunbit takes on all the loan risks. Sunbit allows service providers to seamlessly integrate financing at the point of service which boosts payment satisfaction and revenues.
Sunbit takes a data-driven approach to financing which allows for quick financing decisions to be made with minimal paperwork. Sunbit is a perfect fit for businesses that provide essential and urgent services, like in healthcare, auto repair, and many local services.
| Feature | Description |
|---|---|
| Speciality | Automotive & healthcare |
| Approval Rate | Very high |
| Underwriting | Real-time |
| Ideal For | Low-credit customers |
| Merchant Payment | Upfront |
| Benefit | Higher service sales |
Conclsuion
To conclude, each Affirm, Klarna, Afterpay, and PayPal Pay Later are leaders in digital commerce, while Splitit and Sunbit are best for big-ticket or necessary services. The best BNPL provider for your business depends on your customers, your product, and how big of a market you are after.
They all increase your conversion rates, give customers more options to pay, and give you secure payments in full right away. Pick the one that best fits the provider you want for the growth you are after.
FAQ
What is a BNPL provider?
A BNPL provider allows customers to split their purchases into installments while merchants receive full payment upfront.
Which BNPL provider is best for eCommerce?
Affirm, Klarna, Afterpay, and PayPal Pay Later are top choices for online stores.
Which BNPL option is best for high-ticket items?
Splitit is ideal because it uses existing credit card limits without loans.
Which BNPL works best for essential services?
Sunbit is best for automotive, dental, and healthcare payments.
Do merchants receive payments upfront?
Yes, all major BNPL providers pay merchants upfront and handle customer risk.
