Anatoli Shevtsov

Buy Now Pay Later (BNPL) services have become increasingly popular among consumers in recent years. These services allow customers to split the cost of a purchase into smaller, more manageable payments over time, often with little or no interest. In this article, we'll take a closer look at BNPL and some of the providers available in the USA and overseas, and how they differ.

What is BNPL?

BNPL, or Buy Now Pay Later, is a payment option that allows consumers to purchase goods or services upfront and pay for them over time, usually in installments. BNPL providers typically partner with merchants to offer this option at checkout, allowing customers to select BNPL as a payment option and choose an installment plan that works best for them.

The appeal of BNPL is that it can help customers make larger purchases without having to pay for them all at once. Instead, they can spread the cost over several weeks or months, often with no interest or low interest.

BNPL Providers in the USA

Here are some of the popular BNPL providers in the USA:

1. Afterpay: Afterpay is a popular BNPL provider that allows customers to pay for purchases in four interest-free installments. Afterpay is available at a variety of merchants, including fashion, beauty, and home goods retailers.
2. Klarna: Klarna is another popular BNPL provider in the USA, offering several payment options, including Pay Later, which allows customers to pay for their purchases in four interest-free installments. Klarna is available at merchants such as H&M, Sephora, and Adidas.
3. Affirm: Affirm provides financing for purchases that can be paid back over a period of time with interest rates that range from 0% to 30%. Affirm is available at a variety of merchants, including Peloton, Walmart, and Expedia.
4. Quadpay: Quadpay is a BNPL provider that allows customers to pay for purchases in four interest-free installments. Quadpay is available at merchants such as Macy's, Target, and Nike.
5. Sezzle: Sezzle enables customers to pay for purchases in four interest-free installments. Sezzle is available at merchants such as Tarte Cosmetics, Lulus, and Gymshark.

BNPL Providers Overseas

Here are some of the popular BNPL providers overseas:

1. Zip Pay (Australia): Zip Pay allows customers to pay for purchases in interest-free installments with a maximum limit of $1,500. Zip Pay is available at a variety of merchants, including Kogan.com, BCF, and Harvey Norman.
2. Clearpay (UK): Clearpay provides customers with the option to pay for purchases in four interest-free installments. Clearpay is available at merchants such as ASOS, JD Sports, and Boohoo.
3. Laybuy (New Zealand): Laybuy allows customers to pay for purchases in six interest-free installments. Laybuy is available at a variety of merchants, including The Warehouse, Glassons, and Kathmandu.
4. PayBright (Canada): PayBright provides financing options for purchases with interest rates ranging from 0% to 29.95%. PayBright is available at merchants such as Wayfair, Lenovo, and Samsung.
5. Splitit (Israel): Splitit enables customers to pay for purchases in installments using their existing credit card with no interest charges or fees. Splitit is available at merchants such as Adidas, Timberland, and Macy's.

How BNPL Providers Differ

While BNPL providers offer similar services, there are some differences to consider when choosing a provider. For example, some providers may offer different repayment.