A Guide to Buy Now, Pay Later (BNPL) for Merchants
The payment option of buy now, pay later—sometimes shortened to BNPL—has exploded in popularity over the COVID-19 pandemic. It has become extremely popular with Gen Z and millennials, especially those with tighter finances. Even the 40-and-over population is starting to get in on the action. More and more merchants are also providing this option, even for products that are less than $100. For merchants who are interested in this payment service, this guide will walk you through the details of BNPL, how you can adopt it, and its benefits as well as problems.