Buy Now Pay Later: A Retailer’s Guide


Buy now, pay later, or BNPL, has been making headlines for a long time, and for good reason, customers are increasingly seeking substitutes to cash (which can be difficult to carry) and credit cards (which puts lots of people in debt).

BNPL provides an appealing alternative that allows buyers to take their items home while paying a portion of the cost up front. We'll go over the ins and outs of buy now, pay later in this article. You'll discover what it is, why this is so popular, and how to use it in your retail business.

Let's get started.

What is BNPL?

Buy now, pay later is exactly as it sounds like: it's a payment method that allows people to purchase and take home the things they desire without having to pay the full price up front.

Customers that use BNPL just have to put up a portion of the product's price and then pay the remainder in monthly payments — interest-free. Because no interest is paid (unless payments are missed), BNPL has developed to become a popular payment option for customers.

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                                             Image Source: Pexels

What are the Benefits to Retailers?

Now that you know what purchase now, pay later is all about, let's take a look at some of the advantages that businesses can get by offering the program in-store.

You get paid in whole and upfront

One of the nicest aspects of offering purchase now, pay later is that you, the seller, are reimbursed upfront and full. You won't be worried about chasing down late payments because your payment provider will bear the credit risk.

It boosts your conversion rate

If your target to increase conversion rates then you needs to give your customers exciting offers to grab the deal. People are much more likely to buy things if they can afford to take it home right away. Customers can do exactly that with BNPL, enhancing your conversion rates. 

According to industry research, businesses who use the service enhance their conversion rates by 20-30%.

How To Put It into Action in Your Store

Do you want to provide buy now, pay later in your physical store? The initial step is to locate a solution supplier who offers the service. If you offer this benefit then customer can grab their dream easily. As a result everybody will be benefited from this. You need to be very flexible to increase any kind of business 

Here are some things to think about when picking a payment partner:

Integration at the point of sale

Select a vendor who can integrate with your current POS system. This ensures a smooth checkout procedure that eliminates the need for manual labour or double entry.

Most systems can integrate with two or more buy now, pay later solutions. If you live in Australia, check out layby online NZ if you’re interested.


BNPL firms, like most payment solutions, impose a fee for payment processing. This is usually in the form of a proportion of the sale plus a processing fee. Make sure you do your homework on these fees so you can make an educated selection.


Ideally, you should use a reputable payment processor with a large and expanding user base. This allows you to reach a larger audience and attract clients to your store.