Buy Now, Pay Later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. It's a great option for consumers who don't have enough disposable income to pay for large purchases in full. It's a good option for purchases that are time sensitive such as furniture, car repairs, appliances, etc.
BNPL option is a great option for customers to spread out payments that are needed for a big buy. As a business owner, you may be able to use a BNPL option to reduce your total monthly payments for your customers. A BNPL option allows for customers to pay for their purchase over time, and it's a great option for the small business who wants to entice customers to buy now with a promise of better interest rates in the future. This is a great option for customers who want to spread out their payments to have a better idea of what they'll be able to afford later.