Best BNPL Platforms Shortlist
Here’s the shortlist of the best tools that I’ll cover in this article.
The use of buy-now-pay-later is a popular topic in the world of ecommerce right now. It’s easy to see why. Your customers can use BNPL platforms to make interest-free payments and take a product home they normally would have to save for. So many merchants are choosing to add BNPL (buy-now-pay-later) to their checkout options and collecting the benefits.
67% of BNPL users believe these platforms could replace traditional credit cards in the next few years. So it would make sense to add this option to your ecommerce store and capitalize on this trend. But which platform is best? That’s what I’m going to answer in this article.
What is a Buy-Now-Pay-Later (BNPL) Platform?
A buy-now-pay-later platform (BNPL) is an emerging payment method that allows customers to purchase items and pay for them in installments. BNPL platforms are becoming increasingly popular with shoppers as they provide a convenient way to purchase items online without the need to pay upfront. Pay later apps can help customers buy big ticket price items with monthly installments to ease the burden.
Overviews of the 10 Best Buy-Now-Pay-Later Platforms
Here’s a brief description of each buy-now-pay-later platform to showcase each one's best use case, some noteworthy features, screenshots, and pricing information.
Wisetack
Best for subscription-based services
Wisetack enables businesses to give customers transparent payment options for subscription-based products and services.
Why I picked Wisetack: The platform plugs into your current website and checkout process to enable your business to give customers payment installment options for services like subscription boxes or streaming services. Wisetack BNPL (Buy Now, Pay Later) is a financing solution that allows ecommerce businesses to offer their customers the option to pay for their purchases in installments instead of a lump sum payment. By integrating Wisetack BNPL into their ecommerce platform, businesses can offer their customers the flexibility to pay over time and potentially increase customer loyalty and sales.
Wisetack BNPL also offers various benefits to the businesses themselves, including reduced cart abandonment and improved cash flow, as customers are more likely to complete their purchase when given the option to pay in installments. Additionally, Wisetack BNPL provides businesses with valuable insights into their customers’ spending habits, helping them make informed decisions about inventory, marketing, and other business operations. Overall, Wisetack BNPL can be a valuable tool for ecommerce businesses looking to increase sales, retain customers, and improve their overall financial health.
Wisetack Standout Features and Integrations
Features include consumer financing, fast customer approvals, debit and credit card processing, and immediate payments.
Integrations include an API that integrates with your current systems.
Wisetack offers custom pricing upon request. Wisetack doesn’t have any free trial information.
Pros
- Excellent coordination with the vendor.
- Easy integrations.
- Payment term controls.
Cons
- Fees can be high.
- Must wait to receive funds.
Splitit
Best white-label BNPL
Splitit helps ecommerce businesses offer installment payments to customers from their own websites.
Why I picked Splitit: You can use the platform to take control of the entire purchase journey with its white-label features. It puts your brand at the center, allowing you to increase brand loyalty. The entire buy-now-pay-later process is embedded on your website.
Splitit doesn’t acquire your customers to cross-sell them - your customers remain your customers, not theirs. You can use the platform to customize your customers’ experience, including control over how often you want them to make payments and whether you require a down payment. Splitit authorizes the purchase’s full amount on your customer’s credit cards and reserves the balance from their card until they make the final payment.
Splitit Standout Features and Integrations
Features include PCI compliance, reporting and analytics, in-person payments, debit and credit card processing, and point of sale.
Integrations include Shopify, PayPal, WooCommerce, BlueSnap, Magento, BigCommerce, PrestaShop, Authorize.net, WorldPay, Adyen, and Wix.
Splitit costs from 1.5% of each transaction and an additional $1.50 per installment. They invoice your business every month.
Pros
- Low merchant fees.
- Intuitive set-up.
- Easy-to-use dashboard.
Cons
- Customers need available credit before purchase.
- Issues with foreign banks.
Klarna
Best for fashion and luxury brand
Klarna offers various BNPL options that are an excellent fit for fashion and luxury brands.
Why I picked Klarna: The platform is a popular choice for younger generations who typically shop with many fashion and luxury brands. This is because of Klarna’s Pay in 30 Days financing option, which allows your customers to try your items for free, keep what they like, and return what they don’t want within 30 days. It will enable you to provide a low-pressure option to your customers and encourage them to complete their orders.
Klarna also allows you to offer express checkout options on your product pages, which means you can create a one-click checkout experience. But keep in mind that when using this option, there’s an additional fee to your business. It might be worth it to decrease the effort it takes your customers to finish their purchase by reducing the time it takes them to change their minds.
Klarna Standout Features and Integrations
Features include zero-fraud liability, upfront payment, global solutions, seller protection, automatic updates, advertisement solutions, product search, order management, reporting tools, data analytics, and a merchant portal.
Integrations include LogiCommerce, Desktop.com, Shopaccino, PremierCashier, Happy Returns, Cloud Funnels, 29 Next, Elixir, SendOwl, Centra, BetterCommerce, and Adyen.
Klarna offers custom pricing upon request.
Pros
- Well recognized.
- Multiple checkout options.
- No loan limitations.
Cons
- High late fees for customers.
- Poor customer service.
Affirm
Best for selling on Amazon
Affirm helps your business provide flexible payment options wherever your customers shop for your products.
Why I picked Affirm: The platform is beneficial for ecommerce, in-store, and telesales transactions. They are Amazon’s choice for BNPL solutions. Affirm enables businesses to integrate buy-now-pay-later options for customers, no matter where they’re buying. You can use Affirm to show your customers flexible payment terms throughout your ecommerce site, including every product page and checkout, to make it easy for them to buy.
Affirm gives retailers complete control over the minimum amount customers spend to qualify for installments. You can choose whether to offer customers a 0% interest loan financing, where to show Affirm’s payment messaging, and how long your customers have to make payments. The platform also has a tool called Adaptive Checkout. This unique solution can update your customer’s loan repayment options when they add items to their cart, allowing them to see their purchase amount in personalized installment payments throughout your site.
Affirm Standout Features and Integrations
Features include business portal, credit card processing, ACH payment processing, activity dashboard, mobile payments, billing and invoicing, mobile app, and real-time analytics.
Integrations include Wix, Shopify, WooCommerce, Magento, BigCommerce, OpenCart, 3dcart, NetSuite SuiteCommerce, AmeriCommerce, Volusion, Web Shop Manager, PlanetScale, and Lightspeed eCommerce.
Affirm offers custom pricing upon request.
Pros
- No customer late fees.
- Large customer purchase limits.
- Intuitive dashboard.
Cons
- Competition might get better rates.
- Only works in the USA.
Paypal’s “Pay-in-Four”
Best for PayPal user
PayPal’s “Pay-in-Four” BNPL platform provides merchants who already use PayPal Pay with capabilities to give customers alternative payment options.
Why I picked PayPal’s “Pay-in-Four”: The PayPal platform is the most popular, secure payment system, and they brought their capabilities to the BNPL atmosphere. They have a level of trust worldwide that can help you turn potential, unconvinced individuals into paying customers. Merchants who already accept PayPal as a payment option for customers can easily implement the Pay-in-Four system.
PayPal’s “Pay-in-Four” platform can scale with any business and help you provide various financing options to your customers. All you have to do is add a Pay Later button as another payment option on your checkout system. Afterwards, customers with an existing PayPal account can apply for the Pay-in-Four financing if their purchase is between $30 and $1,500.
PayPal’s “Pay-in-Four” Standout Features and Integrations
Features include business insights, reporting, automatic updates, debit and credit card processing, POS system, recurring payment, purchase protection, invoice management, and online checkout.
Integrations include BigCommerce, Wix, WooCommerce, GoDaddy, Adobe, Shift4Shop, XCart, Miva, Volusion, OpenCart, Cart.com, and Vortx.
PayPal’s “Pay-in-Four” is a free add-on for current PayPal merchants. When using the platform, you’ll only pay the regular 3.49% + $0.49/transaction.
Pros
- No additional costs.
- Easy to use.
- Simple organization.
Cons
- Takes customers off your website.
- High customer interest rates.
Zip Co
Best for global payments
Zip Co is a convenient option for businesses because customers can use it anywhere in the world if they use an Amex, Discover, or Visa credit card.
Why I picked Zip Co: Formerly Quadpay, Zip provides you with an opportunity to accept payments from customers anywhere in the world, as long as your business accepts payments from Amex, Discover, or Visa. The platform also has a community of customers that you can tap your business into to drive more traffic to your site. This combination of a global community and the ability to accept their payments means your business can enjoy a high average order value.
Zip Co lets your business put your customers first by providing convenient installments that won’t affect their credit scores. Zip Co lets your customers control their repayment schedule and set up weekly, biweekly, or monthly payments. When customers choose to make payments on a purchase, your business will get paid the same day from the vendor.
Zip Co Standout Features and Integrations
Features include order management, customer data management, merchant portal, reconciliation management, community marketplace, website widget, refund processing, and credit card processing.
Integrations include Salesforce, Shopify, WooCommerce, Magento, BigCommerce, Oracle Commerce, Workarea, and CartHook. Zip Co also provides an API to connect the platform to your current systems.
Zip Co offers custom pricing upon request.
Pros
- Easy to navigate.
- Increases AOV.
- Responsive platform.
Cons
- No reporting.
- No platform demo.
Four
Best for accepting payments through Google and Apple Pay
Four enables businesses to reach more customers through alternative payment applications such as Google and Apple Pay.
Why I picked Four: The platform doesn’t require your customers to leave your website to sign up and break down their purchase payments. Instead, it offers a simple buy now button and allows your customers to continue their purchase journey on your site, which can increase customer loyalty and decrease abandonment rates. It integrates with many digital wallets, such as Google and Apple Pay, to help your store reduce friction rates throughout the purchase process.
Four doesn’t require your customers to go through a credit check when buying your products, and they get an instant decision from the vendor. When using Four, you can customize their widget and checkout to match your brand’s theme to ensure your customers are purchasing from your business.
Four Standout Features and Integrations
Features include one-click checkout, a shopper portal, fast integration, a customizable interface, order and refund management, order tracking, customer spending analytics, and flexible payment processing.
Integrations include WooCommerce, Shopify, and Shopify Plus.
Four offers custom pricing upon request. Four offers a free demo to help you determine if the platform is right for you.
Pros
- Increased conversion rates.
- Simple Shopify integration.
- Easy order tracking.
Cons
- Customer service needs improvement.
Afterpay
Best for encouraging responsible spending
Afterpay provides a credit limit for your customers to make purchases on your ecommerce store and provides rewards for responsible spending.
Why I picked Afterpay: The platform sets sensible and transparent initial spending credit limits for those new to using Afterpay when buying products. This initial limit can increase when customers make their payments on time. The vendor also provides tips to help customers spend responsibly.
Afterpay works for retailers with online storefronts and in-store purchasing options. It has a simple, built-in integration with Square, which makes it easy to offer BNPL options from a Square POS system. You can also order a marketing kit from Afterpay to help you let your customers know you accept Afterpay as a payment option.
Afterpay Standout Features and Integrations
Features include ACH payment processing, fraud detection, electronic payments, data security, mobile payments, credit card processing, subscription billing, and transaction history.
Integrations include Ecwid, CS-Cart, Shopify, Wix, WooCommerce, Synder, Magento, BigCommerce, Cloud Funnels, Propeller, BridgerPay, and Salesforce Commerce Cloud.
Afterpay offers custom pricing upon request.
Pros
- Easy to use.
- No customer credit checks.
- Excellent support for merchants.
Cons
- Some retailers can be denied.
- High interest on late payments.
Sunbit
Best for retailers selling essential services
Sunbit helps you break down payments of your essential services for customers.
Why I picked Sunbit: Unlike other platforms that focus on merchants selling nonessential items, Sunbit sets itself apart by enabling businesses to offer installment options for in-person services, such as car repairs, eye doctor appointments, or veterinary care. It helps you soften the financial blow of your essential services for your customers. But, where it really shines is your business will now have a competitive because you can offer services to customers who might not have good credit.
Sunbit helps businesses that provide essential services to their customers and make them more affordable. With this platform, you can enable customers to pay for more of your services, up to $10,000, with a 3-to-12-month installment duration.
Sunbit Standout Features
Features include high approval rates, a quick application process, a partner success team, digital marketing resources, and actionable insights.
Sunbit offers custom pricing upon request. Sunbit offers a free demo.
Pros
- Easy to use.
- Caters to in-person businesses.
- Excellent omnichannel solution.
Cons
- Must apply to discover costs.
- Requires a down payment.
Humm
Best for large purchases
Humm is a BNPL platform that helps customers break up significantly large purchases.
Why I picked Humm: As it says on the Humm website, this BNPL helps your customers buy “big things.” They help break down any purchase up to $30,000! Your customers can spread these payments out over five or ten payments every two weeks or up to 60 months for more significant purchases.
Humm guarantees to settle their payment upfront with your business the next business day. This can be significant if you’re a smaller business that relies on these payments. Also, if a customer returns an item to your store, Humm will return their fee on the items.
Humm Standout Features and Integrations
Features include flexible repayments, soft credit checks, and online and in-store purchase processing.
Integrations include Salesforce, Shopify, WooCommerce, Magento, Striven POS, PrestaShop, OpenCart, Kitomba, Retail Directions, Shopify Plus, Intershop, and eStar.
Humm offers custom pricing upon request.
Pros
- Customers can make large purchases.
- Direct REST API.
- Simple sign-up process.
Cons
- Customer support needs work.
- High customer fees.
The 10 Best Buy-Now-Pay-Later Platforms Summary
| Tool | Free Option | Price | ||
|---|---|---|---|---|
| 1 |  Wisetack Best for subscription-based services | Not available | Pricing upon request | Visit Website |
| 2 |  Splitit Best white-label BNPL | Not available | From 1.5% of each transaction and an additional $1.50 per installment | Visit Website |
| 3 |  Klarna Best for fashion and luxury brand | Not available | Pricing upon request | Visit Website |
| 4 |  Affirm Best for selling on Amazon | Not available | Pricing upon request | Visit Website |
| 5 |  Paypal’s “Pay-in-Four” Best for PayPal user | Not available | Visit Website | |
| 6 |  Zip Co Best for global payments | Not available | Pricing upon request | Visit Website |
| 7 |  Four Best for accepting payments through Google and Apple Pay | Free demo | Pricing upon request | Visit Website |
| 8 |  Afterpay Best for encouraging responsible spending | Not available | Pricing upon request | Visit Website |
| 9 |  Sunbit Best for retailers selling essential services | Free demo | Pricing upon request | Visit Website |
| 10 |  Humm Best for large purchases | Not available | Pricing upon request | Visit Website |
Other BNPL Apps
Here are a few more options that didn’t make the best BNPL software list:
How I Selected the Best Buy-Now-Pay-Later Platforms
Perhaps you're wondering how I selected the best BNPL platforms for this list? To build this top 10 list, I evaluated and compared a wide range of BNPL platforms with positive user ratings.
After determining my long list of top choices, I further honed my list by using the selection criteria below to see how each platform stacked up against the next one. I also drew on my years of ecommerce experience to pinpoint the features that add a lot of value.
If you have general questions about buy-now-pay-later platforms or how to pick the best BNPL platform for your shop, take a look at our frequently asked questions section below. Or, you can skip directly to my detailed software summaries, if that's what you need the most.
Selection Criteria
Here’s a short summary of the main selection and evaluation criteria I used to develop my list of the best BNPL platforms for this article:
Ease of Use
Using a BNPL platform can make your customers’ purchases easier and faster. They complete their purchase fast and return to what they were doing earlier. I look for platforms that provide a quick and non-tedious shopping method to encourage your customers to buy again. Also, the software should reassure customers that they don’t have to worry about paying the total amount upfront, which can greatly decrease cart abandonment rates.
Customizable
There are multiple buy-now-pay-later methods you can implement when using these platforms. The most common is the “Pay in 4” method, which breaks the final cost into four separate payments. Each payment in the pay-in-4 method takes place every two or three weeks until the final amount is complete. I look for BNPL platforms offering multiple term lengths, ranging from a few weeks to months.
Cost to Customers
Much like credit cards, buy-now-pay-later requires the customer to make the repayment amounts when the installment is due. While typically buy-now-pay-later installments are interest-free, missing payments can result in various associated fees. When searching for the best platforms to add to this list, I look through the fees when a customer misses a payment, such as interest or late fees, reopening account fees, or monthly fees.
Software Integrations:
Integrations can help you add buy-now-pay-later options to your store’s checkout. I look for BNPL platforms with a simple process and excellent customer support to help you get set up. You should be able to add these platforms no matter which system your ecommerce store is on.
Pricing:
The BNPL vendor takes a percentage of each transaction, and they bill you directly. The vendor deducts this fee from the sum the platform remits to your business. I look for fees typically in the 2% to 8% range. These terms are similar to traditional credit card arrangements. Part of the pricing arrangement you might also want to consider is the "cost" to your customers—ie. do they charge a late fee for missed payments, and how much?
People Also Ask
Have some questions before you select your best buy now pay later option? Start here!
What are the Benefits of Using BNPL Platforms?
What are the Key Features of a Top BNPL Platform?
What is the Difference Detween EPP and BNPL?
Other Ecommerce Payment Software Reviews
If you are looking for BNPL software, you might be interested in these related software reviews, as well. They all focus on ecommerce finances, payments, or tax management.
- Point-of-Sale (POS) Software
- Ecommerce Sales Tax Software
- Buy-Now-Pay-Later (BNPL) Platforms
- Mobile Payment Solutions
- Ecommerce Fraud Prevention Software
- Ecommerce Accounting Software
- Abandoned Cart Software
Offer Customers More Purchasing Freedom with BNPL
Digital financing options will continue to grow in a world that relies on technology. Using a BNPL platform in your business can draw in new audiences and provide them with a straightforward experience. BNPL platforms are highly effective for your business’s growth as more and more customers welcome this trend. For businesses who want to keep up with this trend and meet the needs of a changing customer base, using a BNPL app will benefit your company.
If you’re considering using other tools along with these BNPL platforms, sign up for our newsletter. Here, you’ll receive new details regarding the top tools in the ecommerce industry and some advice from the top leaders in this sector.