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Buy-Now-Pay-Later (BNPL) methods let customers pay in installments over time and has exploded in popularity in recent years. The store is paid immediately, in full, and customers pay nothing or a portion of the total at checkout.

According to recent studies, 56% of consumers have used BNPL services in the past, an increase of nearly 50% in the last year alone. Normally, adoption of these services can be time consuming and expensive to integrate with existing software. With Rain POS Payments, these integrations are easily available to all users with the flip of a switch.

REQUIREMENT: Payment processor must be Rain POS Payments using Stripe for processing (Adyen is not currently supported). Also, for BNPL to be an option at checkout, there must be a minimum $50 value of eligible items in the customer's shopping cart, with none of the restricted items listed below.

 

Restricted Items

Please note that BNPL services are intended for the purchase of products, so if any of the following items are in a customer's shopping cart, they will not see BNPL as an option for payment:

• Invoices
• Subscription Payments / Initial Subscription Signup
• Short Term Rentals
• Classes

Now available:

 

Enabling Buy-Now-Pay-Later

To turn on one or more of these services, click the Admin button with your username in the upper right and in the menu that drops-down, go to Settings > Integrations > Rain POS. At the bottom of the page, you’ll see a Buy Now Pay Later section. Rates and information for each service is listed on this page. You can enable one or all by pressing the Yes/No button under ‘Enabled’. Once you press the button, Terms and Conditions will appear for you to sign. This must be done before any BNPL service can be enabled.

 

Receiving Funds

Funds from BNPL transactions will be paid in full with normal Rain POS Payments deposits. For example, if a customer makes a $500 purchase using 4 installments of $125 the store will get paid $500 (minus BNPL fees) on your next Rain POS Payments deposit. See Rain POS Payments: Receiving Payouts or more details on payout information.

 

Buy Now, Pay Later Service Providers

Affirm

Affirm gives your customers a way to split purchases over a series of payments. Depending on the purchase, they can pay with four interest-free payments (Split Pay) or pay over a longer term (Installments), which may include interest.

Click here Buy Now, Pay Later with Affirm for more details on pricing and information.

 

Afterpay / Clearpay

Afterpay gives your customers a way to split purchases over four installments. Your customer only pays the first installment at purchase time. Afterpay immediately pays you in full and collects the remaining installments from your customer over time.

Click here Buy Now, Pay Later Service with Afterpay / Clearpay for more details on pricing and information.

 

Klarna

Klarna gives customers a range of payment options during checkout. Available payment options vary depending on the customer’s billing address and the transaction amount. These payment options make it convenient for customers to purchase items in all price ranges.

Click here Buy Now, Pay Later with Klarna for more details on pricing and information.