Buy now, pay later (BNPL) providers

Buy now, pay later lets a shopper split a purchase into instalments — commonly four payments over six weeks, or a monthly plan — while the merchant is usually paid in full upfront by the BNPL provider, which carries the credit and fraud risk. Merchants pay a higher fee than for cards in exchange for higher conversion and larger baskets. Klarna, Afterpay (Clearpay), Affirm and many regional providers offer it.