The Best 8 Buy Now, Pay Later Apps To Offer Your Customers

Affirm Features

• Loan offering amounts and repayment timelines set by merchants
• Installment payments update in real-time as cart balance changes
• Online, in-person, and telesales businesses can use this BNPL option
• Customers are never charged late fees for missed payments
• Customers can apply for up to $17,500 in a single transaction.

Affirm Rates & Fees

Merchants are charged a flat fee of 5.99% + $0.30 on each BNPL transaction.

Customers are not charged any late fees, interest, or other fees on Affirm's standard 4-installment loans. On 6- or 12-month loans, the APR is 10–36%.

Eligibility Requirements

Customers must meet the following requirements:

• 18+ US resident
• Have SSN
• Have a US phone number that receives SMS

To apply for a loan at checkout, first-time Affirm users enter some personal information, including debit or credit card information. Affirm also does a soft credit check, which does not affect their credit score. Existing Affirm users just need to log onto their accounts. The loan application and approval process take only seconds.

Repayment Terms

Installments are due either biweekly or monthly, depending on the repayment plan. If customers do the standard 4-installment plan, the total loan term is 6 weeks. Your customers will never be charged late fees, but late payments may impact their credit score. To avoid this, your customers can set up an automatic payment schedule.

Where Affirm Really Shines

Affirm is our choice for the best buy now, pay later app for any type of business, thanks to how versatile its loan repayment offerings are. Merchants have complete control over the minimum amount customers must spend to qualify for installment payments. You can also choose whether or not to offer 0% interest loan financing, how long customers have to repay their loans, and where to show Affirm payment messaging.

Also, Affirm now offers Adaptive Checkout, a unique checkout solution that updates a shopper's Affirm loan repayment options in real time as they add items to their cart.

With this dynamic technology, customers see their total purchase amount broken down into personalized installment payments throughout the shopping experience. At checkout, your customers won't feel shocked at their total, which will reduce cart abandonment rates.

For a more in-depth look at how Affirm works and whether it's the right BNPL provider for your business, read our post on what Affirm offers and how to add it to your website.

Klarna Features

• Merchants have the choice to offer several types of repayment options
• Express checkout buttons make the shopping experience fast and easy
• Pay In 30 option lets customers "try before you buy"
• Klarna partners with merchants to amplify their brands
• Maximum loan amount is $1,000 for Pay in 30 Days and 4 Installments or $10,000 for 3-36 month financing.

Klarna Rates & Fees

Klarna merchants are charged a flat fee of 3.29-5.99% + $0.30 on each BNPL transaction. The percentage varies depending on what payment option your customer chooses, and their location. The variable merchant fee for using each Klarna product is as follows:

• Up To 5.99% Per Transaction: Pay in 30 Days, 4 Installments
• Up To 3.29% Per Transaction: Customer Financing, Klarna Checkout, Klarna In-Store, Klarna Express Button Online
• Up To 3.79% Per Transaction: Klarna Express Button In-Store

If you want the Express Checkout button, this costs an additional $30/month to have on your site.

As for customer fees, with the 4 Installments option, late fees are $7 per late payment, with compounding fees adding up to 25% of the purchase price. On longer-term consumer loans with monthly repayment, customers could be charged up to $35.00 per late payment, though the fee will not exceed your minimum amount due.

Eligibility Requirements

Customers must meet the following requirements:

• 18+
• Don’t have a lot of debt
• Link your bank account

Klarna does a soft credit check on customers who choose to pay in four installments or 30 days. This will not affect their credit score. Customers who apply for long-term financing may undergo a hard credit check that shows up as an inquiry on their credit report.

Repayment Terms

Like many BNPL providers, customers have the option to pay in 4 interest-free installments charged every 2 weeks for a total term of 6 weeks, Klarna also has an interest-free 30-day financing option that gives customers up to 30 days to submit a single payment, as well as long-term financing (up to 36 months) with 0-29.99% interest. Customer financing installments are paid monthly.

Where Klarna Really Shines

Klarna is a great option for businesses selling "nonessential" or luxury items online, in-store, or both. That's because Klarna's unique Pay in 30 Days financing option allows customers to try their items out for free, keep what they love, and return what they don't within 30 days of receiving their items. This low-pressure option makes customers more likely to complete their orders.

Klarna also offers express checkout buttons so that you can create a one-click checkout experience for your customers. The express checkout button carries an additional charge for merchants, but that fee may be worth it to reduce the amount of effort it takes customers to complete their purchases, and minimize the amount of time customers have to change their minds.

If you want a more thorough explanation of how Klarna works for businesses and customers, read our complete guide to Klarna for business.

PayPal Pay-In-4 Features

• Pre-made PayPal financing marketing present throughout the shopping experience
• Straightforward fees & repayment structure
• Easy for existing PayPal Business users to add to payment options
• Maximum borrowing amount of $1,500 (PayPal Credit can be used for larger purchases)

PayPal Pay-In-4 Rates & Fees

Merchants pay 3.49% plus a fixed fee, depending on the currency the payment was received in.

Customers are never charged late fees or interest (though as with other BNPL apps, late payments may be reported to credit bureaus).

Eligibility Requirements

Customers must meet the following requirements:

• Must be of legal age in your state of residence
• Not available in certain states (check PayPal website to see if Pay In 4 is available in your state)

PayPal does a soft credit check on loan applicants and ensures that existing PayPal users are in good standing before approving them. Late payments can disqualify customers from PayPal Pay In 4 loans in the future.

Repayment Terms

Customers pay 25% of the purchase amount at checkout, and the remaining three installments are automatically charged to their PayPal account every 15 days, for a total repayment term of 6 weeks.

Where PayPal Pay In 4 Really Shines

While PayPal was a little late to the pay later game, Pay In 4 has the clean, straightforward functionality that other BNPL companies sometimes lack. Pay In 4 is free for sellers who implement PayPal as a payment option in their online stores. US-based sellers who already have a one-time PayPal payment integration simply add Pay Later messaging. You also add a PayPal "Pay Later" button as another payment option at checkout.

From there, customers with an existing PayPal account can apply for Pay In 4 financing on purchases between $30 and $1,500. People who don't have PayPal can sign up and apply for financing. Customers are redirected to PayPal to apply and view loan terms. They are then approved or denied for a loan and redirected back to your site. This entire process takes only seconds. You can check out our full PayPal Pay In 4 review to see if it's right for your business.

AfterPay Features

• Easy to implement in-store or integrate with your eComm website
• Customers can pay early, ahead of their installment schedule
• Customers can reschedule payments (up to three per year), shifting them up to five days
• Spending limits start at $600 and increase with responsible spending behavior (to a maximum of $1,500)
• Customers with bad credit are eligible
• Digital card makes it easy for customers to make repeat purchases

Afterpay Rates & Fees

Afterpay merchants are charged a flat fee of 4-6% + $0.30 on each BNPL transaction.

Users are charged late fees if they forget to pay or are unable to pay. The fee is $8 per missed payment, capped at 25% of the purchase amount. Users may also get charged nonsufficient funding fees from their bank if automatic Afterpay payments put them over their available account balance.

Eligibility Requirements

Afterpay requires the following from consumers applying for a loan:

• 18+ US resident
• Valid email, delivery address & phone number
• Link a CC, debit card, or bank account

Afterpay does not require a soft or hard credit check during the application or approval process.

Repayment Terms

Afterpay's term is 6 weeks, divided into four bi-weekly payments. Afterpay doesn't have a longer-term repayment option like some other BNPL apps.

Where Afterpay Really Shines

Afterpay is one of the easiest BNPL apps for merchants to implement in their store or on their website, especially for Square merchants. Afterpay has seamless built-in integration with Square, making it a piece of cake to offer BNPL right from your Square point of sale.

Square merchants can even order a free Afterpay marketing kit to let their customers know that they accept this BNPL payment option.

Afterpay is also simple for customers to use and it's aimed at those who may have tarnished credit or no credit. There is no credit check and customers start out with a spending limit of $600 that is meant to encourage responsible spending habits. To learn more about this best BNPL app, read our post on how Afterpay works for small businesses.

Sezzle Features

• Free integrations with WordPress, WooCommerce, BigCommerce, Magento, Salesforce, Shopify Plus, and more
• On-time installment payments reported to credit bureaus to help customers build credit
• Customers' Sezzle credit limit increases over time
• Named #1 Installment Payment Software by G2 in Fall 2021 for excellent customer service
• Merchant interest-bearing plan offered in addition to standard direct deposit plan

Sezzle Rates & Fees

Sezzle's merchant fees are 6% of the transaction price + $0.30.

If a customer can't make a payment on time, they can change one due date for free. If needed, the next two due date changes will cost $5 each. If they don't change the due date, customers are charged $10 for each late payment.

Customers may also be charged nonsufficient funds fees if there isn't enough money in their banking account to pay an installment.

Eligibility Requirements

Sezzle eligibility requirements are as follows:

• 18+
• Valid email & US or CA phone number that receives texts
• Link CC or debit card

Applicants are subject to soft credit checks that will not affect their scores; loan applications are approved in seconds.

Repayment Terms

Following the standard BNPL four-payments model, Sezzle customers pay 25% of their purchase upfront and the next three interest-free installments over the span of 6 weeks.

Where Sezzle Really Shines

Based on the brands Sezzle partners with and the features they offer, Sezzle is ideal for online retailers targeting Gen Z customers. The company is a certified B Corporation because they focus on offering transparent BNPL services, as well as financial education, with the mission to empower the next generation of shoppers. Sezzle gives customers every opportunity to avoid late fees, is highly responsive when customers have any issues, and allows younger shoppers to build their credit with their Sezzle Up program. Sezzle also works with all major eCommerce platforms.

Customers who sign up for Sezzle Up get their on-time installment payments reported to credit bureaus, and increase their Sezzle credit limit over time. Other BNPL providers do not report on-time payments, so this is a unique, highly attractive feature. Though Sezzle doesn't yet offer in-store BNPL integrations, it probably won't be long until such a feature is added. Sezzle is also known for its stellar merchant assistance services, so don't hesitate to ask for help if you need it.

Sunbit Features

• Customers have access to larger essential purchases and add-ons
• Dedicated account manager training on how to offer Sunbit services
• Huge range of installment offerings available to suit your customers' needs
• Loans as large as $10,000
• Customizable BNPL solution can include all or only part of purchase

Sunbit Rates & Fees

Interest rates on Sunbit consumer loans range from 0%-35.99%. Rates depend on where the customer lives, their credit situation, their loan amount, and their repayment timeline.

Since each BNPL solution is customized, merchants won't have an idea of how much they'll be paying in merchant fees until you speak to a customer representative.

Eligibility Requirements

Customers may apply for a Sunbit loan at your store, online, or with the Sunbit app. Customers must meet the following requirements:

• 18+
• Have state-issued license or ID

The approval process does include a soft credit check, and takes less than one minute. Approximately 90% of customers are pre-approved for some amount of credit. Customers then enter how much of that credit they'd like to use towards their purchase. For example, a customer may be approved for $2,000, but only need $600 to cover a car repair. They choose a loan repayment plan to pay off that $600, pay some amount of the purchase up front, and then pay the rest in monthly installments.

Repayment Terms

Customers may apply for a Sunbit loan ranging from $60-$10,000, with 3-12 month repayment options available.

Where Sunbit Really Shines

Most BNPL apps are geared towards retailers selling "nonessential" items. Sunbit distinguishes itself by offering easy customer financing options for in-person services such as optical appointments, car repairs, or veterinary procedures. In fact, one in four auto dealership service centers in the U.S. offers Sunbit.

Sunbit's BNPL solution softens the potential financial blow of essential services for customers. It also gives Sunbit-equipped business owners a competitive edge and the ability to offer services to customers who may not have the best credit score.

If you're interested in offering Sunbit to your customers, you can reach out to the company for a personalized quote.

Wisetack Features

• Fast & easy application process for customers
• Funds sent to your bank account next business day after work is complete
• Wisetack takes on all financial risks that come with getting paid after a service is finished
• Works with home service software including HouseCall Pro
• Customers can pay off loans early

Wisetack Rates & Fees

Loan interest rates are 0%-29.99% depending on the customer's credit situation and loan repayment structure. Three-month loan repayment plans are interest-free.

On the merchant side, Wisetack takes out a 3.9% commission fee.

Eligibility Requirements

Wisetack doesn't list any specific eligibility requirements on its website, but there is an application with a soft credit check, and customers with bad or fair credit may be accepted. Wisetack says they approve, on average, 88% of applicants with credit scores as low as 540.

Repayment Terms

Wisetack offers 3-60 month consumer financing plans. Your customers have the ability to set up automatic loan payments and pay off their loans early. They will not have to pay compound interest or late fees. They can also reschedule their monthly pay dates if needed.

Where Wisetack Really Shines

Wisetack is a unique BNPL solution for home service providers to offer their customers 3-60 month financing plans, without taking on any financial risks. Wisetack sets you up with your own merchant portal, where you can see approved applications and check payment notifications. Wisetack pays you directly and works with your current order management software.

After the customer confirms their loan, you provide the service. Once the work is done, Wisetack sends your customer an email asking them to confirm that the job is done. You receive funds directly to your bank account within 1-2 business days after the client confirms the service is complete.

In addition to home services, businesses in other service industries like automotive, veterinary, dental, and medical can also use Wisetack.

Splitit Features

• Merchants set minimum and maximum qualifying purchase amounts
• Customers can earn credit card rewards on their purchases
• No application -- customers with an eligible credit card can simply select Splitit as a payment option
• Integrates with major eCommerce platforms such as Magneto, Shopify, & WooCommerce
• Short- and long-term repayment plans

Splitit Rates & Fees

Splitit does not charge customers any fees. However, if customers don't pay their balance in full at the end of the month, they could be charged interest fees from their credit card issuer, as with any credit card balance.

There are two Splitit business plans for merchants:

• Business Standard: Splitit takes 1.5% of the purchase amount and $1.50 per customer installment; merchants get paid as customers pay their monthly installments.
• Business Funded: Splitit takes 3% of the purchase amount and $1 per customer installment; merchants are paid the total purchase amount, minus fees, upfront.

Eligibility Requirements

Customers must meet the following requirements

• 18+
• Have an eligible credit card
• Have enough available credit to cover full purchase amount

Customers do not have to undergo a credit check during the loan application process. However, Splitit does make sure that they have enough available balance on their credit card to cover the full balance of their transaction before being approved for a loan.

For example, if your customer wants to buy a $1,000 laptop, they must have at least $1,000 available on their credit card to cover the cost of the purchase. They may have to pay $200 upfront, and Splitit will put a preliminary hold of $800 on their card. Once they pay the next $200 installment, the hold reduces to $600, and so on, until the purchase is paid off.

Repayment Terms

Splitit installment options can range from 3-24 months, depending on the retailer. These are monthly installments and the customer must pay off their credit card balance every month.

Where Splitit Really Shines

Many existing credit card users charge large purchases to their credit cards but rack up interest fees when they don't pay off their balance in full by the end of the month. Splitit offers credit card users a way to buy larger items now, but get their credit card charged in smaller, more manageable increments. Then, they'll be able to pay their monthly credit card balance off in full while building their credit.

When your customer checks out, they'll see Splitit as a payment option. They may choose to pay in installments through Splitit, and pay for some of the purchase up front.

Because Splitit makes sure customers can afford larger purchases by holding the money on a credit card, you know that customers will be able to afford the big-ticket items they would normally purchase with a credit card.

Companies selling big-ticket items such as high-end furniture, jewelry, and electronics really benefit from offering Splitit online and in-store.