Best Installment Payment and Buy Now Pay Later (BNPL) Software

How Many Installment Payment and Buy Now Pay Later (BNPL) Software Products Does G2 Track?

Total Products under this Category: 74

Category Stats (Sep 2026)

  • Average Rating: 4.43/5 The average rating of products in this category, based on all submitted ratings
  • Top Trending Product: mondu (+9.08%) - Among all products in this category, mondu recorded the largest rating increase compared to last month

Last updated: September 17, 2026

How Does G2 Rank Installment Payment and Buy Now Pay Later (BNPL) Software Products?

Why You Can Trust G2's Software Rankings:

  • 30 Analysts and Data Experts
  • 3,900+ Authentic Reviews
  • 74+ Products
  • Unbiased Rankings

G2's software rankings are built on verified user reviews, rigorous moderation, and a consistent research methodology maintained by a team of analysts and data experts. Each product is measured using the same transparent criteria, with no paid placement or vendor influence. While reviews reflect real user experiences, which can be subjective, they offer valuable insight into how software performs in the hands of professionals. Together, these inputs power the G2 Score, a standardized way to compare tools within every category.

G2 Grid® for Installment Payment and Buy Now Pay Later (BNPL) Software

G2 Grid® for Installment Payment and Buy Now Pay Later (BNPL) Software plotting products by satisfaction and market presence

Highlighted products: PayPal Payments, Sunbit, PayPal Pay Later, Affirm, Zip for Business, Afterpay, Sezzle, and Klarna.

Underlying data: [Grid® JSON](https://www.g2.com/categories/installment-payment-and-buy-now-pay-later-bnpl/grids.json?focus%5B%5D=paypal&focus%5B%5D=sunbit&focus%5B%5D=paypal-paypal-pay-later&focus%5B%5D=affirm&focus%5B%5D=zip-for-business&focus%5B%5D=afterpay&focus%5B%5D=sezzle&focus%5B%5D=klarna)

PayPal Payments

PayPal Payments is a comprehensive payment processing solution designed to empower businesses of all sizes to accept payments seamlessly from customers worldwide. By integrating PayPal Payments, merchants can offer a variety of payment options, enhancing the checkout experience and potentially increasing conversion rates. Key Features and Functionality: - Global Payment Acceptance: Supports transactions in over 200 markets and 140 currencies, enabling businesses to cater to a diverse customer base. - Multiple Payment Methods: Allows customers to pay using credit and debit cards, PayPal balances, and other local payment methods, providing flexibility and convenience. - Seamless Integration: Compatible with major eCommerce platforms, facilitating easy integration into existing online stores. - Advanced Security Measures: Incorporates robust fraud protection tools and compliance features to safeguard both merchants and customers. - Financial Services: Offers access to business loans and working capital, assisting merchants in managing and expanding their operations. Primary Value and Solutions Provided: PayPal Payments addresses the critical need for businesses to offer secure, efficient, and versatile payment options to their customers. By leveraging PayPal's extensive network and trusted reputation, merchants can enhance customer trust, streamline payment processes, and expand their reach to international markets. The platform's comprehensive suite of tools not only facilitates payment acceptance but also supports business growth through financial services and operational insights.

Average Rating: 4.4/5.0

Total Reviews: 2,693

How Do G2 Users Rate PayPal Payments?

  • Quality of Support: 8.3/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.9/10 (Category avg: 8.9/10)
  • Loyalty Management: 8.6/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.0/10 (Category avg: 8.6/10)

Who Is the Company Behind PayPal Payments?

  • Seller: PayPal
  • Company Website:
  • Year Founded: 1998
  • HQ Location: San Jose, CA
  • Twitter: @PayPal
    1,112,487 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    38,773 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Owner, Manager
  • Top Industries: Information Technology and Services, Computer Software
  • Company Size: 62% Small, 23% Medium

What Do G2 Reviewers Say About PayPal Payments?

AI-generated summary from verified user reviews

Pros
  • Users appreciate the ease of use of PayPal Payments, enjoying its simple setup and global acceptance.
  • Users enjoy the easy payments process with PayPal, facilitating quick and secure transactions globally and reliably.
  • Users value the convenience of PayPal Payments, appreciating its quick setup and easy tracking of transactions.
  • Users appreciate the seamless international payment processing of PayPal Payments, facilitating hassle-free transactions for freelancers.
  • Users value the payment ease of PayPal Payments, enjoying quick and secure transactions for international freelance work.
Cons
  • Users feel that the fees are expensive, particularly affecting small payments and international transactions.
  • Users find the high fees on small payments to be a significant drawback of PayPal Payments.
  • Users often experience poor customer support, struggling to reach representatives and resolve issues in a timely manner.
  • Users express concern over excessive transaction and conversion fees that detract from the overall experience with PayPal Payments.
  • Users are frustrated with the high transaction fees and conversion charges, feeling it negatively impacts their experience.

What Are Recent G2 Reviews of PayPal Payments?

What Are G2 Users Discussing About PayPal Payments?

Sunbit

Sunbit is the AI-powered finance partner that turns hesitation into sales. Traditional financing slows things down and drives customers away. Sunbit’s people-centered AI approves the majority of applicants in seconds, helping more people say “yes” when it matters most. From checkout to final payment, Sunbit delivers a smooth, transparent experience. Acting as an extension of your business, it builds trust, earns loyalty, and keeps customers coming back. Our Products Buy Now, Pay Later — Flexible pay-over-time options for auto service, dentistry, healthcare, and other in-person services. Also available as an Embedded Finance solution for SaaS platforms serving service providers. Next-Gen Co-Brand Credit Card — A fee-free credit card offered in partnership with leading retailers, designed to drive loyalty and repeat business.

Average Rating: 4.9/5.0

Total Reviews: 138

How Do G2 Users Rate Sunbit?

  • Quality of Support: 9.7/10 (Category avg: 8.5/10)
  • Payment Scheduling: 9.7/10 (Category avg: 8.9/10)
  • Loyalty Management: 9.7/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.5/10 (Category avg: 8.6/10)

Who Is the Company Behind Sunbit?

  • Seller: Sunbit
  • Company Website:
  • Year Founded: 2016
  • HQ Location: Los Angeles, California
  • Twitter: @sunbit_fintech
    478 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    569 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Office Manager, Treatment Coordinator
  • Top Industries: Medical Practice, Hospital & Health Care
  • Company Size: 52% Small, 24% Medium

What Do G2 Reviewers Say About Sunbit?

AI-generated summary from verified user reviews

Pros
  • Users commend Sunbit for its ease of use, making patient purchases smooth and stress-free for dental services.
  • Users commend the quick and easy approval process, enhancing the experience for both patients and office staff.
  • Users find Sunbit's convenient application process simplifies purchasing glasses, enhancing overall user experience effortlessly.
  • Users value Sunbit for its flexible payment options, making healthcare more accessible and affordable for patients.
  • Users value the easy setup of Sunbit, facilitating a smooth onboarding process for efficient patient care.
Cons
  • Users often encounter a lack of clarity regarding financial agreements, leading to potential misunderstandings and stress.
  • Users face payment issues with Sunbit, including confusion over debit card processing and multi-step payment links.
  • Users express concern over high fees and interest rates that can deter patients and affect affordability.
  • Users express dissatisfaction with the limited acceptance of payment methods, restricting options for those with certain accounts.
  • Users express a need for improved UX enhancements, as issues with verification and clarity affect their experience.

What Are Recent G2 Reviews of Sunbit?

PayPal Pay Later

PayPal Buy Now, Pay Later (BNPL) is an installment payment solution that lets merchants offer their customers the option to split purchases into smaller payments over time - while the merchant is paid, up front, in full, with no additional risk. It's included within PayPal Checkout with no additional integration and gives shoppers flexible ways to pay, including Pay in 4 (interest-free payments), Pay Monthly (longer-term financing), and other financing options varying by market. Built for businesses of every size, from independent retailers to global enterprises, PayPal Pay Later is available to merchants across nine markets - the United States, United Kingdom, Canada, Australia, France, Germany, Italy, Austria and Spain - and is backed by PayPal's global network of 400M+ active consumers with 90M+ global PayPal users highly likely to be approved for Pay Later installment offers (1). Merchants use PayPal Pay Later to help increase conversion and average order value while removing the risk and operational overhead of financing. PayPal handles billing and collections, so the merchant is paid in full at the point of sale without additional risk. Merchants see a 14% lift in sales after adding upstream messaging and a second PayPal button (2). Globally, Pay Later transactions have an 81% higher average order value than standard PayPal transactions3 - rising to 91% for enterprise4 merchants. Additionally, 96% of PayPal Pay Later users are repeat users (5). Key features: - Get paid up front, with no risk. PayPal bills and collects from the customer while you're paid in full, with no additional risk. - Lift average order value and sales with dynamic Pay Later messaging. Show personalized installment offers across home, product, cart, and checkout pages. Merchants adding Pay Later messaging and 2nd button see 14% lift in sales (2). - Reach high-value shoppers. 90M+ PayPal users globally are highly likely to be approved for Pay Later installment offers(1) - Integrate through 40+ e-commerce platforms. Add BNPL through Shopify, WooCommerce, Adobe Commerce (Magento), BigCommerce, Salesforce Commerce Cloud, PrestaShop, Shopware, OpenCart, Viva Wallet, Adyen, and more - no separate setup. - Simple, transparent pricing. No monthly setup or management fees. You only pay when you get paid. - Track everything in one dashboard. All Pay Later sales, average order value, and repeat-buyer data live in your PayPal merchant dashboard. (1) Based on internal PayPal data, March 2025. Global Pay Later offers include Pay in 4 (US, AU), Pay in 3 (UK, IT, ES), and Paiement en 4x (FR). DE is excluded. (2) Based on PayPal Internal data of merchants who added messaging/button between March 2020–September 2025 (Base: N=6,502). Impact is on PayPal Branded TPV for 3 months after adding messaging and Pay Later 2nd button. Data inclusive of Pay Later transactions across 8 markets (US, UK (Pay in 3), AU (Pay in 4), DE, ES, IT, FR (Pay in 4X), CA (Pay in 4)). (3) Internal Data Analysis of merchants with Pay Later transactions from January–December 2024. Data inclusive of Pay Later transactions across 7 markets (US, UK, AU, DE, ES, IT, FR). (4) Internal Data Analysis of Large Enterprise merchants with Pay Later transactions from January–December 2024. Data inclusive of Pay Later transactions across 7 markets (US, UK, AU, DE, ES, IT, FR). (5) Based on PayPal internal data from March 2025–February 2026. Data inclusive of Pay Later transactions across 8 markets (US, UK (Pay in 3), AU (Pay in 4), DE, ES, IT, FR (Pay in 4X), CA (Pay in 4)). Merchant results will vary depending on merchant size, industry, and market conditions. A repeat user is defined as a user who has used Pay Later more than 1x in the last 12 months

Average Rating: 4.6/5.0

Total Reviews: 21

How Do G2 Users Rate PayPal Pay Later?

  • Quality of Support: 8.8/10 (Category avg: 8.5/10)
  • Payment Scheduling: 10.0/10 (Category avg: 8.9/10)
  • Loyalty Management: 8.3/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.3/10 (Category avg: 8.6/10)

Who Is the Company Behind PayPal Pay Later?

  • Seller: PayPal
  • Company Website:
  • Year Founded: 1998
  • HQ Location: San Jose, CA
  • Twitter: @PayPal
    1,112,487 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    38,773 employees on LinkedIn®

Who Uses This Product?

  • Company Size: 76% Small, 14% Medium

What Are Recent G2 Reviews of PayPal Pay Later?

Affirm

Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network – one based on trust, transparency and putting people first – we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees.

Average Rating: 4.3/5.0

Total Reviews: 46

How Do G2 Users Rate Affirm?

  • Quality of Support: 7.6/10 (Category avg: 8.5/10)
  • Payment Scheduling: 9.1/10 (Category avg: 8.9/10)
  • Loyalty Management: 8.3/10 (Category avg: 8.4/10)
  • E-commerce Integration: 8.3/10 (Category avg: 8.6/10)

Who Is the Company Behind Affirm?

  • Seller: Affirm
  • Year Founded: 2012
  • HQ Location: San Francisco, US
  • Twitter: @Affirm
    19,840 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    3,202 employees on LinkedIn®
  • Ownership: NASDAQ: AFFIRM

Who Uses This Product?

  • Top Industries: Retail, Health, Wellness and Fitness
  • Company Size: 77% Small, 13% Medium

What Do G2 Reviewers Say About Affirm?

AI-generated summary from verified user reviews

Pros
  • Users value the affordability of Affirm's payment plans, making bigger purchases easier to manage without unexpected costs.
  • Users love the ease of use of Affirm, enjoying simple setup and seamless payment management with clear terms.
  • Users value the flexible payment options of Affirm, enhancing their purchasing power with ease and clarity.
  • Users appreciate the convenience of zero-interest payment plans with Affirm, simplifying electronics purchases and enhancing shopping efficiency.
  • Users find the easy setup of Affirm refreshing, as it allows for a quick and seamless transition to using the service.
Cons
  • Users warn of high interest rates and potential damage to their credit score, affecting affordability and financial health.
  • Users are concerned about high fees with Affirm, making repayments more expensive and impacting their financial health.
  • Users find the lack of clarity on eligibility confusing, requesting better labeling and clearer information on products.
  • Users dislike the late fees associated with missed payments, which can harm credit scores and increase debt burdens.
  • Users experience limited acceptance of Affirm, facing high interest rates and fees that can lead to unexpected costs.

What Are Recent G2 Reviews of Affirm?

What Are G2 Users Discussing About Affirm?

Sezzle

Based in Minneapolis, Minnesota, Sezzle is a public-benefit corporation on a mission to financially empower the next generation. Sezzle’s #1-shopper-rated Buy Now, Pay Later product enables millions of shoppers across the United States and Canada to take control of their spending, be more responsible, and gain access to financial freedom. Serving more than 40,000 online merchants and over 3MM shoppers, Sezzle allows shoppers to make their purchase today with 4 payments over the following 6 weeks, interest-free! Sezzle also offers customers the option to reschedule their payment once for free, and the max fee for late payment is $10. Sezzle is the financially responsible solution to buy now, pay later. What's in it for merchants? Increased conversions, AOV, and shopper frequency. The best part? Sezzle takes on all the risk of fraud, chargebacks, and repayment. It's a win, win, WIN.

Average Rating: 4.6/5.0

Total Reviews: 119

How Do G2 Users Rate Sezzle?

  • Quality of Support: 9.2/10 (Category avg: 8.5/10)
  • Payment Scheduling: 9.4/10 (Category avg: 8.9/10)
  • Loyalty Management: 9.0/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.3/10 (Category avg: 8.6/10)

Who Is the Company Behind Sezzle?

  • Seller: Sezzle
  • Year Founded: 2016
  • HQ Location: Minneapolis, Minnesota
  • Twitter: @sezzleinc
    20,246 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    451 employees on LinkedIn®
  • Total Revenue (USD mm): $2,500

Who Uses This Product?

  • Who Uses This: Owner, CEO
  • Top Industries: Retail, Apparel & Fashion
  • Company Size: 94% Small, 6% Medium

What Do G2 Reviewers Say About Sezzle?

AI-generated summary from verified user reviews

Pros
  • Users find the ease of integration with Shopify makes Sezzle a convenient choice for e-commerce businesses.
  • Users find the easy integrations with Sezzle essential for enhancing their e-commerce experience on Shopify.
  • Users find Sezzle's easy integration with Shopify invaluable, meeting high customer demand effectively.
  • Users value the pay later option from Sezzle, as it makes purchases accessible for budget-conscious shoppers.
Cons
  • Users are frustrated by the high fees Sezzle charges for transactions, impacting their overall satisfaction with the service.

What Are Recent G2 Reviews of Sezzle?

What Are G2 Users Discussing About Sezzle?

Afterpay

Afterpay pioneered a better way to pay. Customers shop now, pay over 6 weeks, and never pay interest. Merchants who partner with Afterpay reach the largest, most loyal shoppers in the world. More than 19M active customers have shopped with Afterpay globally and it is consistently rated in the Top 10 of shopping apps. Merchants benefit from partnering with Afterpay and offering customers a better way to pay. On average, Afterpay sends more than 1M global referrals to its merchant partners every day. Afterpay increases average order value, drives incremental sales, and keeps customers coming back. Here’s how Afterpay works for your customers: 1. Your customers shop your site or get the Afterpay app. 2. Customers see their payment schedule and choose Afterpay as their payment method at checkout. 3. They’ll make the first of 4 payments now. And pay the rest over 6 weeks. And, here’s how it works for you: - Get paid upfront. You’ll get paid within days for purchases made with Afterpay. - Minimize your risk. We take on risks, including chargebacks and fraud. So you can focus on growing your business. - Receive daily settlement reports. Get access to transactional information that you can use to reconcile and verify orders.

Average Rating: 4.2/5.0

Total Reviews: 43

How Do G2 Users Rate Afterpay?

  • Quality of Support: 8.2/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.1/10 (Category avg: 8.9/10)
  • Loyalty Management: 7.1/10 (Category avg: 8.4/10)
  • E-commerce Integration: 8.0/10 (Category avg: 8.6/10)

Who Is the Company Behind Afterpay?

  • Seller: Afterpay
  • Year Founded: 2010
  • HQ Location: Melbourne, VIC
  • Twitter: @AfterpayUSA
    29,699 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    560 employees on LinkedIn®
  • Ownership: ASX: APT

Who Uses This Product?

  • Top Industries: Apparel & Fashion
  • Company Size: 77% Small, 9% Medium

What Do G2 Reviewers Say About Afterpay?

AI-generated summary from verified user reviews

Pros
  • Users appreciate the convenience of Afterpay, enjoying simple payments and quick approvals for managing purchases easily.
  • Users value the installment payment plans and appreciate its integration with popular apps like Shop and Cash App.
  • Users value the fast and simple approval process of Afterpay, making purchases stress-free and manageable.
  • Users love the ease of use of Afterpay, benefiting from its simple payment structure and fast approval process.
  • Users appreciate the easy setup of Afterpay, making it simple to manage payments across various stores.
Cons
  • Users are frustrated with the high fees associated with refunds and limited vendor participation on Afterpay.
  • Users find the strict repayment schedule of Afterpay can lead to uncomfortable late fee risks during emergencies.
  • Users are frustrated by the limited acceptance of Afterpay, as many vendors do not support the service.
  • Users find the limited availability of Afterpay restrictive, as not all retailers accept it and flexibility is needed.
  • Users experience slow performance with Afterpay, particularly during the downloading process, which can hinder usability.

What Are Recent G2 Reviews of Afterpay?

What Are G2 Users Discussing About Afterpay?

Zip for Business

Zip (previously Quadpay) is a leading Buy Now, Pay Later company providing fair and seamless solutions that simplify how people pay. With a growing presence across the globe, our mission is to be the first payment choice, everywhere and every day. We exist to create a world where people can live fearlessly today, knowing they’re in control of tomorrow. Focused on product innovation that puts people at the center, we put the financial well-being of our customers and merchants at the heart of everything that we do. With Zip, customers can shop anywhere and pay later, while merchants get paid upfront. Our platform empowers businesses to offer flexible payment solutions to customers online and in store without the risk. Our user-friendly solution is easily integrated without APIs. Once live, merchants can introduce their brand to millions of new consumers who already love Zip, acquiring new customers and boosting sales instantly. We are Zip, and we’re only just getting started.

Average Rating: 4.4/5.0

Total Reviews: 22

How Do G2 Users Rate Zip for Business?

  • Quality of Support: 9.3/10 (Category avg: 8.5/10)
  • Payment Scheduling: 10.0/10 (Category avg: 8.9/10)
  • Loyalty Management: 8.1/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.8/10 (Category avg: 8.6/10)

Who Is the Company Behind Zip for Business?

  • Seller: Zip Co Limited
  • Year Founded: 2013
  • HQ Location: Sydney, NSW
  • LinkedIn® Page: www.linkedin.com
    1,020 employees on LinkedIn®
  • Ownership: ASX: Z1P
  • Total Revenue (USD mm): $122

Who Uses This Product?

  • Top Industries: Apparel & Fashion
  • Company Size: 73% Small, 18% Medium

What Are Recent G2 Reviews of Zip for Business?

What Are G2 Users Discussing About Zip for Business?

Klarna

Klarna is a global fintech company that offers innovative payment and marketing solutions designed to enhance the shopping experience for consumers and drive growth for businesses. By providing flexible payment options and performance-driven marketing tools, Klarna helps merchants attract, convert, and retain customers more effectively. Key Features and Functionality: - Flexible Payment Options: Klarna offers a variety of payment methods, including: - Pay in Full: Immediate payment at the time of purchase. - Pay in 30 Days: Allows customers to receive products and pay up to 30 days later without interest or late fees when paid on time. - Pay in 3 or 4 Installments: Enables shoppers to split purchases into smaller, interest-free payments. - Financing: Provides longer-term payment plans for larger purchases, offering manageable monthly payments. - Marketing Solutions: Klarna's full-funnel marketing suite allows businesses to run targeted campaigns across various channels, including search, programmatic ads, affiliate placements, cashback offers, and personalized in-app content, reaching over 24 million active shoppers. - Seamless Integration: Klarna integrates with major e-commerce platforms such as Shopify, Magento, WooCommerce, and BigCommerce, as well as payment partners like Stripe and Adyen, facilitating easy adoption for merchants. Primary Value and Solutions for Users: For consumers, Klarna provides a flexible and convenient shopping experience by offering multiple payment options that cater to different financial needs, thereby enhancing purchasing power and satisfaction. For merchants, Klarna drives business growth by increasing average order values, improving conversion rates, and fostering customer loyalty through its comprehensive payment and marketing solutions.

Average Rating: 3.2/5.0

Total Reviews: 56

How Do G2 Users Rate Klarna?

  • Quality of Support: 6.4/10 (Category avg: 8.5/10)
  • Payment Scheduling: 7.5/10 (Category avg: 8.9/10)
  • Loyalty Management: 5.5/10 (Category avg: 8.4/10)
  • E-commerce Integration: 7.0/10 (Category avg: 8.6/10)

Who Is the Company Behind Klarna?

  • Seller: Klarna
  • Year Founded: 2005
  • HQ Location: Stockholm, SE
  • Twitter: @klarna
    63,965 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    4,637 employees on LinkedIn®

Who Uses This Product?

  • Top Industries: Retail, Apparel & Fashion
  • Company Size: 78% Small, 10% Medium

What Do G2 Reviewers Say About Klarna?

AI-generated summary from verified user reviews

Pros
  • Users value the flexible payment options offered by Klarna, easing financial strains with manageable installment plans.
  • Users find Klarna's interface to offer exceptional ease of use, facilitating seamless payment experiences and organization.
  • Users enjoy the convenience of Klarna for organizing customer cards and simplifying payment processes.
  • Users appreciate the no fees structure of Klarna, making flexible payments accessible for important purchases.
  • Users appreciate the flexible payment options of Klarna, providing relief during difficult financial times.
Cons
  • Users report a complex setup with Klarna, leading to frustrations and negative initial experiences.
  • Users report feeling that Klarna is a scam process, citing unsupportive customer service and poor initial experiences.
  • Users express frustration over limited vendor acceptance of Klarna, affecting their payment flexibility and options.
  • Users find that Klarna has limited availability, restricting access with certain banks and hindering usability.
  • Users find the ease of payment at checkout needing improvement, which affects their overall experience with Klarna.

What Are Recent G2 Reviews of Klarna?

What Are G2 Users Discussing About Klarna?

GoCardless

GoCardless is on a mission to become the world’s bank payment network. Setting people and businesses free from the frustrations and cost of out-dated payment methods, with simple and secure direct bank payment solutions. Collect instant, one-off payments. Or automated recurring payments. And use our add-ons to automatically recover failed payments (recovering 70%, on average), and fight fraud without compromising your customer’s payment experience. With GoCardless you save time and money, win and retain more customers, get paid on time, and reduce stress. 75,000+ businesses around the world trust us to power their payments, including global names like DocuSign, Carrefour, Norwegian Refugee Council, Trip Advisor, Aon, Survey Monkey, and UNHCR. We enable them to collect payments from 30+ countries, processing over $30 billion each year. And our products are flexible to how you want to use them – whether you want to use them on their own with our easy-to-use online dashboard, connect with one of 350+ systems you might already use to run your business, or build your own custom integration with our API. We’ve been on this mission since 2011, and now have an incredible team of 700+ payments experts across the UK, US, France, and Australia. In fact, you might’ve heard of us before – we’ve been covered by the BBC, Financial Times, TechCrunch, Wall Street Journal, Les Echos, Börsen Zeitung, Australian Financial Review, and hundreds more. Want to learn more? Head over to gocardless.com

Average Rating: 4.6/5.0

Total Reviews: 311

How Do G2 Users Rate GoCardless?

  • Quality of Support: 8.5/10 (Category avg: 8.5/10)
  • Payment Scheduling: 9.6/10 (Category avg: 8.9/10)

Who Is the Company Behind GoCardless?

  • Seller: GoCardless
  • Year Founded: 2011
  • HQ Location: London
  • Twitter: @GoCardless
    13,232 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    850 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Director, Owner
  • Top Industries: Accounting, Marketing and Advertising
  • Company Size: 92% Small, 7% Medium

What Do G2 Reviewers Say About GoCardless?

AI-generated summary from verified user reviews

Pros
  • Users value the seamless automation of GoCardless, simplifying payment processes and enhancing cash flow management effortlessly.
  • Users value the ease of use of GoCardless, enjoying seamless automation for stress-free payment management.
  • Users appreciate the seamless automation of GoCardless, simplifying payments and enhancing cash flow management effortlessly.
  • Users appreciate the seamless automation of GoCardless, enhancing cash flow management with reliable recurring payments.
  • Users appreciate the helpful customer support of GoCardless, enhancing their experience and confidence in the service.
Cons
  • Users experience payment issues with GoCardless, leading to delays, administrative burdens, and integration challenges.
  • Users report slow payment processing, leading to administrative burdens and complications with recurring billing and client setups.
  • Users face billing issues with GoCardless, including delayed payments and complications from verification problems.
  • Users are concerned about high fees for small payments, impacting cash flow and complicating client onboarding.
  • Users experience payment delays with GoCardless, which can significantly hinder cash flow and reliability.

What Are Recent G2 Reviews of GoCardless?

What Are G2 Users Discussing About GoCardless?

Wisetack

Wisetack is the leading Pay Over Time platform for in-person services. Wisetack partners with top SaaS service companies to embed payment options directly into their software through a simple API integration. Service businesses rely on Wisetack to offer their customers flexible, point of sale financing, enabling them to quickly and easily pay over time for essential services. Quick decisions, clear terms, and no tricks. What could be better? We're proud to be building a financing option that customers actually love.

Average Rating: 4.6/5.0

Total Reviews: 25

How Do G2 Users Rate Wisetack?

  • Quality of Support: 8.9/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.6/10 (Category avg: 8.9/10)
  • Loyalty Management: 7.9/10 (Category avg: 8.4/10)
  • E-commerce Integration: 8.6/10 (Category avg: 8.6/10)

Who Is the Company Behind Wisetack?

  • Seller: Wisetack
  • Year Founded: 2018
  • HQ Location: San Francisco, CA
  • Twitter: @WisetackInc
    202 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    133 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Owner
  • Top Industries: Construction
  • Company Size: 96% Small

What Do G2 Reviewers Say About Wisetack?

AI-generated summary from verified user reviews

Pros
  • Users find Wisetack to be super easy to use, enabling seamless financing presentations and increased accessibility to markets.
  • Users value the easy integrations of Wisetack, streamlining customer pre-qualification and enhancing communication with support.
  • Users appreciate the convenience of Wisetack's integration and clear financing, enhancing customer interactions and support.
  • Users appreciate the easy setup of Wisetack, seamlessly integrating with CRM and enhancing customer financing experience.
  • Users value the versatility of Wisetack, allowing access to markets that were previously out of reach.

What Are Recent G2 Reviews of Wisetack?

What Are G2 Users Discussing About Wisetack?

Capchase

Capchase Pay is a B2B payment and financing solution designed to improve the buying and selling of software and hardware by streamlining the payment process. This innovative platform allows customers to pay over time according to their preferences while enabling businesses to receive the total contract value (TCV) upfront for annual and multi-year agreements. By offloading the billing and collections process to Capchase, companies can focus on their core operations while increasing their cash flow. Targeted primarily at businesses engaged in software and hardware sales, Capchase Pay addresses the common challenges associated with payment processing and customer financing. It is particularly beneficial for companies looking to close more deals by offering flexible payment options that cater to their customers' financial needs. The solution is designed to simplify the buying experience, making it easier for customers to commit to larger purchases without the burden of immediate full payment. One of the standout features of Capchase Pay is its ability to provide immediate access to booked revenue. By receiving the total contract value upfront, businesses can improve their cash flow and reinvest in growth opportunities without delay. This feature is crucial for companies that rely on predictable revenue streams and need to maintain a healthy financial position. Additionally, the platform integrates seamlessly with existing systems such as CRM and accounting software, ensuring a smooth transition and minimal disruption to current workflows. Capchase Pay also offers a user-friendly setup process, allowing businesses to implement the solution in less than 24 hours without any obligations or minimum usage requirements. There are no one-time or integration fees, making it an accessible option for businesses of all sizes. Furthermore, the solution is available internationally across nine countries and currencies, expanding its reach and usability for global enterprises. By incorporating Capchase Pay into their payment processes, businesses can enhance customer satisfaction through flexible payment options while simultaneously improving their operational efficiency. The ability to streamline billing and collections not only saves time but also allows companies to focus on building relationships with their customers and driving sales growth.

Average Rating: 4.5/5.0

Total Reviews: 44

How Do G2 Users Rate Capchase?

  • Quality of Support: 9.5/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.8/10 (Category avg: 8.9/10)
  • Loyalty Management: 7.2/10 (Category avg: 8.4/10)
  • E-commerce Integration: 7.8/10 (Category avg: 8.6/10)

Who Is the Company Behind Capchase?

  • Seller: Capchase
  • Year Founded: 2020
  • HQ Location: New York, New York
  • Twitter: @Capchase
    2,443 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    100 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Account Executive
  • Top Industries: Computer Software, Hospital & Health Care
  • Company Size: 75% Medium, 18% Small

What Do G2 Reviewers Say About Capchase?

AI-generated summary from verified user reviews

Pros
  • Users appreciate the fast and responsive customer support, enjoying the convenience and team-like interaction through SLACK.
  • Users value the ease of use of Capchase, appreciating its intuitive interface and responsive customer support.
  • Users value the flexible payment options from Capchase, enhancing customer satisfaction and reducing sales barriers.
  • Users love the simple and clean UI of Capchase, making transactions effortless and user-friendly.
  • Users appreciate the flexibility provided by Capchase, making it convenient for clients and easy to work with.
Cons
  • Users face significant payment issues during client renewals, often requiring additional support and clarification to resolve errors.
  • Users face a lack of clarity due to navigation issues and difficulties in report generation and detail retrieval.
  • Users find the UX frustrating due to navigation issues and limited reporting features that complicate payments.
  • Users find the approval process finicky and time-consuming, leading to delays in getting buyer confirmations.
  • Users report technical issues, including occasional bugs and delayed updates, though support is responsive to concerns.

What Are Recent G2 Reviews of Capchase?

What Are G2 Users Discussing About Capchase?

Ratio

Ratio is the Closing Motion Platform for B2B technology scale-ups. Most scale-ups treat close as a signature, then wait on cash through fragmented handoffs. Proposals sit with sales, payment terms bounce to finance, billing is configured somewhere else, and collections happen in yet another system. Every handoff adds delay, error, and revenue leakage. It gets worse when you bill monthly. You can win the deal and still collect the value over months. Ratio consolidates the fragmented close into one motion. Proposals. One link with terms, payment options, and checkout built in. The buyer picks how they want to pay, accepts, and moves forward. No separate documents, no chasing signatures, no toggling between tools to close the deal. BNPL. Offer buyers flexible payment terms at the moment of close. They pay over time, you collect total contract value upfront. No discounting to force annual prepayment, no monthly billing drag. Renewals. When the current contract expires, the next one starts automatically. Terms are re-evaluated, pricing is updated, and the same post-close flow runs again. No manual renewal work and no gaps in coverage. Collections. Follow-ups, disputes, and delinquency management stay connected to the original proposal terms, so there is no reconciliation across disconnected systems. Less AR workload and faster recovery. An AI orchestration layer runs the motion. Risk is priced in real time, approvals route automatically, and renewals trigger on schedule. Specialized agents handle deal desk pricing, buyer checkout, risk scoring, and collections follow-up, and each one learns from every deal funded on the platform. Ratio is headless, so it embeds inside your CRM and the tools your team already works in. What scale-ups see with Ratio: 60%+ revenue uplift. 20-30% higher win rates by removing budget friction from the sales process. Total contract value collected upfront while buyers pay monthly. Less discounting to force annual prepayment. Fewer tools to run the closing motion. Built for CROs who need to close without discounting, RevOps and deal desk teams who need one controlled flow, and CFOs who need predictable cash. Close is not a signature. Close is cash upfront.

Average Rating: 4.6/5.0

Total Reviews: 38

How Do G2 Users Rate Ratio?

  • Quality of Support: 7.7/10 (Category avg: 8.5/10)
  • Payment Scheduling: 10.0/10 (Category avg: 8.9/10)
  • Loyalty Management: 10.0/10 (Category avg: 8.4/10)
  • E-commerce Integration: 8.3/10 (Category avg: 8.6/10)

Who Is the Company Behind Ratio?

  • Seller: Ratio
  • Company Website:
  • Year Founded: 2021
  • HQ Location: San Mateo, US
  • LinkedIn® Page: www.linkedin.com
    49 employees on LinkedIn®

Who Uses This Product?

  • Who Uses This: Account Executive
  • Company Size: 53% Medium, 29% Large

What Do G2 Reviewers Say About Ratio?

AI-generated summary from verified user reviews

Pros
  • Users value the ease of use in Ratio, highlighted by its simple setup and seamless payment integration.
  • Users commend Ratio for its easy setup, enhancing workflow and ensuring a seamless experience for both clients and users.
  • Users appreciate the seamless payment processing of Ratio, enhancing client trust and simplifying workflows effectively.
  • Users value the responsive customer support from Ratio, which greatly enhances their sales closing efficiency and user experience.
  • Users praise the exceptional customer support from the Ratio team, enhancing sales processes and overall satisfaction.
Cons
  • Users find the slow performance of Ratio, especially with code delivery, frustrating and time-consuming for clients.
  • Users find the strict eligibility requirements limiting, complicating integrations with Salesforce for price management.
  • Users often face a manual approval process due to limited brand credit history, making the experience cumbersome.
  • Users experience approval process issues due to manual approvals stemming from limited brand credit history.
  • Users experience delays with the one-time code delivery, which can hinder access and usability.

What Are Recent G2 Reviews of Ratio?

PayBright

PayBright is Canada’s leading solution for instant financing of e-commerce purchases. With PayBright, e-commerce merchants using SAP Commerce can offer instant financing as a new integrated payment method for Canadian customers.

Average Rating: 4.6/5.0

Total Reviews: 11

How Do G2 Users Rate PayBright?

  • Quality of Support: 9.5/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.8/10 (Category avg: 8.9/10)
  • Loyalty Management: 9.2/10 (Category avg: 8.4/10)
  • E-commerce Integration: 7.9/10 (Category avg: 8.6/10)

Who Is the Company Behind PayBright?

  • Seller: Affirm
  • Year Founded: 2012
  • HQ Location: San Francisco, US
  • Twitter: @Affirm
    19,840 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    3,202 employees on LinkedIn®
  • Ownership: NASDAQ: AFFIRM

Who Uses This Product?

  • Company Size: 55% Small, 27% Medium

What Are Recent G2 Reviews of PayBright?

What Are G2 Users Discussing About PayBright?

Tamara

We’re changing how you shop Shopping should be all fun, no stress. With Tamara, you can split your payments – totally interest-free.

Average Rating: 4.0/5.0

Total Reviews: 10

How Do G2 Users Rate Tamara?

  • Quality of Support: 6.8/10 (Category avg: 8.5/10)
  • Payment Scheduling: 8.3/10 (Category avg: 8.9/10)
  • Loyalty Management: 8.3/10 (Category avg: 8.4/10)
  • E-commerce Integration: 8.6/10 (Category avg: 8.6/10)

Who Is the Company Behind Tamara?

  • Seller: Tamara
  • Year Founded: 2020
  • HQ Location: Riyadh, SA
  • Twitter: @usetamaraen
    4,451 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    1,518 employees on LinkedIn®

Who Uses This Product?

  • Company Size: 60% Small, 20% Medium

What Do G2 Reviewers Say About Tamara?

AI-generated summary from verified user reviews

Pros
  • Users love the flexibility of split payments and access to various vendors through Tamara for convenient shopping.
  • Users appreciate the ease of use during checkout with Tamara, enjoying seamless and quick transactions.
  • Users enjoy the flexible payment options of Tamara, appreciating quick, easy splits across multiple vendors.
  • Users appreciate the flexibility to buy now and pay later, making purchases more manageable and convenient.
  • Users appreciate the payment efficiency of Tamara, enjoying quick and easy checkout processes on all platforms.
Cons
  • Users find the limited acceptance of Tamara frustrating, hoping for broader applicability to enhance its usefulness.
  • Users express dissatisfaction with Tamara's poor customer support, often receiving unhelpful automated responses instead of assistance.

What Are Recent G2 Reviews of Tamara?

Magento 2 Partial Payment

Magento 2 Partial Payment by Meetanshi lets customers make a purchase with installment payments, layaway price plans, EMIs, etc. Do you want to implement a payment option which can be helpful in business competition and is also budget friendly for customers? The Magento 2 Partial Payment allows customers to pay in installments, down payments, EMIs or layaway price plans. With this optimized payment method, encourage the customers to purchase, maintaining their budget and stand out in the competition. Allow customers to make a purchase by paying a token amount and then pay the remaining amount with installment using the Partial Payment extension! Benefits of Magento 2 Partial Payment extension: Offer products with the partial payment, layaway plans or EMIs. Let customers pay down payment at the time of the order and remaining amount later in an installment. Option to define the partial payment availability to particular customer groups and payment methods. Select the scope of the Partial Payment: - All Products - Selected Products - Whole Cart Allow the partial payment facility for the specified minimum order amount for the whole cart scope. The Magento 2 partial shipment feature allow charging shipping cost and tax amount on the down payment or equally divide them into instalments. Disable guest checkout for partial payment. Option to set the credit limit for partial payment. The orders above the credit limit won’t be facilitated with partial payment facility. Display custom error message for overreaching the maximum partial payment credit limit. A customer can skip the partial payments and pay the entire amount at a time using the Pay All Installments checkbox in My Account section. The store owner can auto capture the instalment amount for the orders placed using PayPal and Authorize.net payment methods. Offers fixed instalment and flexy layaway plan for partial payments. Options for payment frequency for the instalments: - Based on Days - Weekly - Monthly - Quarterly Customized label for the down payment amount. Calculate the down payment amount in fixed amount or percent of product price. Set the down payment amount to charge on orders with partial payment. Customized label for pay later amount to display in the storefront. Option to charge payment fee for using the instalment as: - No Fee - On First Instalment - On All Instalments - Custom label for partial payment fee Set a surcharge amount to add to the installments, to be paid either in fixed or percentage. Set fee amount to charge on orders with partial payment Set a custom Partial Payment availability label to show in frontend. Enter and display the terms and conditions to use the Partial Payment facility in the payment calculation box shown on the product page. Enable email notifications on various partial payment actions and events. Manage partial payments and orders with backend grid. The admin can enable product specific Partial Payment. Set the number of installments, custom down payment and fee amount. Option to opt out of partial payment and pay full amount Facilitates the “Partial Payment Orders” from the “My Account” section The “View Orders” display information like: - Installment amount - Due Date - Paid date - Status of instalment payment - The payment method used Allow customers to pay selected or all instalments from the instalments section. Ability to approve or disapprove payments for offline methods The Revenue report in the backend shows the revenue generated from the partial payment. Filter and export data from the revenue report for a specific date range from the backend For more information, visit https://meetanshi.com/magento-2-partial-payment.html

Average Rating: 4.8/5.0

Total Reviews: 12

How Do G2 Users Rate Magento 2 Partial Payment?

  • Quality of Support: 9.2/10 (Category avg: 8.5/10)
  • Payment Scheduling: 9.4/10 (Category avg: 8.9/10)
  • Loyalty Management: 9.2/10 (Category avg: 8.4/10)
  • E-commerce Integration: 9.4/10 (Category avg: 8.6/10)

Who Is the Company Behind Magento 2 Partial Payment?

  • Seller: Meetanshi
  • Year Founded: 2017
  • HQ Location: Bhavnagar
  • Twitter: @MeetanshiInc
    773 Twitter followers
  • LinkedIn® Page: www.linkedin.com
    53 employees on LinkedIn®

Who Uses This Product?

  • Company Size: 83% Small, 17% Medium

What Are Recent G2 Reviews of Magento 2 Partial Payment?

Nathan Calabrese
NC
Researched and written by Nathan Calabrese
Updated October 3, 2024

Installment Payment and Buy Now Pay Later (BNPL) Topics

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Learn More About Installment Payment and Buy Now Pay Later (BNPL) Software

What is Installment Payment and Buy Now Pay Later (BNPL) Software?

Installment payment and buy now pay later (BNPL) software allows companies to provide their customers with the option to pay for goods and services in multiple parts (usually known as installments). Most of these transactions are interest-free, and the companies using this type of software pay a fee per transaction. 

There is usually a minimum order amount per transaction, which varies by provider, and the first installment is due at checkout. BNPL service providers may charge fees or apply interest up to 30% per year for late payments. 

While buyers can pay in monthly installments, companies usually receive the total amount immediately from the BNPL provider. These providers are only sometimes responsible for their financial services, which is why banks and financial institutions usually back them. 

What Does BNPL Stand For?

BNPL stands for buy now pay later, also known as installment payments.

What Types of Installment Payment and Buy Now Pay Later (BNPL) Software Exist?

Depending on the type of buyer, there are two major types of BNPL software. 

Business to consumer (B2C)

Most BNPL solutions focus on e-commerce and consumers (or individual buyers) in industries such as CPG and retail. Companies providing services to individuals, such as gyms and spas, may also use BNPL. Finally, companies selling subscription-based products such as meal kits allow consumers to pay in multiple installments.

Business to business (B2B)

B2B services and software as a service (SaaS) are the most common B2B use cases for BNPL. However, this payment type is less common for industrial goods and raw materials due to the risks associated with these transactions. These risks are related to the high value of payments and contractual obligations. 

What are the Common Features of Installment Payment and Buy Now Pay Later (BNPL) Software?

The following are some core features within installment payment and BNPL tools that can help users define and implement installment plans for buyers:

Installments: These features define payment plans of monthly installments, made available to online buyers at checkout, either online or in-store. A typical payment plan includes four installments or fewer, which must be paid relatively quickly (between 4 and 6 weeks). In addition, some providers offer options for long-term financing.

Payments: Pay later options aren’t available to everyone, and buyers may need to provide a credit score or consent to a credit check. Low credit scores may disqualify buyers or require a down payment. When approved, buyers can choose between multiple payment methods such as credit and debit cards, Paypal, etc. BNPL software also manages payments for refunds. When orders are canceled, buyers must be refunded the amount they paid in one or multiple installments.  

Dispute management: Disputes arise when buyers are charged penalties or interest on late payments or unpaid balances. Other types of disputes managed using BNPL solutions are failed or incorrect payments. Any other issues, such as damaged products or incorrect deliveries, require additional software, such as e-commerce platforms or inventory management.

Analytics: Since companies don't charge buyers for using BNPL, they need to ensure that providing this option helps them sell more. Therefore, tracking metrics such as average order value, ideally segmented by the buyer, region, or consumer category, is critical. 

Integration: BNPL software integrates with e-commerce platforms or accounting software through application programming interfaces (APIs) or plugins, allowing real-time data sync across multiple systems. 

What are the Benefits of Installment Payment and Buy Now Pay Later (BNPL) Software?

The main benefits of an installment payment and BNPL platform are:

Increase sales: The ability to pay in multiple installments allows buyers to purchase goods or services even when they cannot afford them. It also provides the flexibility to spend a manageable amount at a time, which can be a competitive advantage for companies offering BNPL.

Improve buyer experience: BNPL software can help companies improve the customer experience by providing financing and flexible payment options. For example, B2B and B2C buyers prefer to buy from providers that allow them to pay in multiple installments, so they don't have to cover the full price upfront. 

Who Uses Installment Payment and Buy Now Pay Later (BNPL) Software?

Two types of personas mainly use this type of software:

Sales: Sales teams implement BNPL to attract new buyers or to incentivize existing customers or consumers to buy more. 

Marketing: Since BNPL can be a competitive advantage, marketing teams incorporate it into their campaigns to differentiate themselves from competitors.

What are the Alternatives to Installment Payment and Buy Now Pay Later (BNPL) Software?

Alternatives to installment payment and BNPL tools that can replace this type of software, either wholly or partially:

Payment gateways: Payment gateways may include functionality for BNPL, which benefits companies that must manage the complete payment process. 

Software Related to Installment Payment and Buy Now Pay Later (BNPL) Software

Related solutions that can be used together with installment payment and BNPL include:

E-commerce platforms: BNPL solutions don't include features to create and maintain shopping carts, so they must integrate with e-commerce platforms.

Shopping cart software: Small companies may not need e-commerce platforms and use shopping cart tools instead. These tools must also integrate with BNPL software to track online sales and payments.

Billing and invoicing: Since payments are financial transactions, companies must track and report them for compliance. Also, billing data allows companies to monitor their profitability and cash flow.

Challenges with Installment Payment and Buy Now Pay Later (BNPL) Software

Installment payment and BNPL software solutions can come with the following challenges. 

Lack of regulation: Installment payments are not new, but BNPL limits their number to four. In contrast, payment plans with five or more installments are usually regulated locally or nationally. There are very few regulations for four and fewer installment plans. 

Overspending: While most BNPL options are interest-free, there are often hidden fees, such as late fees. Also, while there is no interest on payments, providers may apply high-interest rates on incomplete payments. These factors may contribute to overspending as consumers pay more than they were planning to at the initial purchase.

Incomplete payments:  Buyers may not afford to pay all installments or simply forget, which may incur late fees or high interests applied to the unpaid balance. This may hurt buyers and their credit scores, and sellers that get paid late or never recover the total amount. 

Which Companies Should Buy Installment Payment and Buy Now Pay Later (BNPL) Software?

Any company selling goods or services online or in-store can benefit from using BNPL software. Still, this type of software is primarily beneficial to:

E-commerce companies: BNPL is a perfect fit for e-commerce, focusing mainly on B2C sales with low value and high volume. Online stores provide the option to pay in multiple installments at checkout through integration with BNPL software.

Retailers: While retail companies often use BNPL for online stores, this software can also be used in-store at the point of sale (POS). The process is the same as for e-commerce, except that the credit or debit card owner must be present and provide valid identification. 

Subscription services providers: Subscription products and services can also be purchased in multiple installments, even though this business model relies on monthly recurring payments. BNPL can help buyers purchase yearly or multi-year subscriptions, which cost less than monthly payments.

How to Buy Installment Payment and Buy Now Pay Later (BNPL) Software

Requirements Gathering (RFI/RFP) for Installment Payment and Buy Now Pay Later (BNPL)

BNPL software requirements can be generic or specific to the buyer. An example of generic requirements is the Payment Card Industry Data Security Standard (PCI DSS) certification, which is used worldwide by payment providers. On the other hand, a company's specific needs could be multi-currency for buyers selling in multiple countries with separate currencies.

Compare Installment Payment and Buy Now Pay Later (BNPL) Software Products

Create a long list

Buyers can create a long list by eliminating all the products that don't provide basic or critical requirements, such as multi-currency or support for multiple languages. So, for example, if a BNPL provider only supports the English language and US dollars, it should be automatically excluded from the long list of a multinational buyer.

Create a short list

Buyers can eliminate products from the long list to create a short list using advanced criteria. For instance, even though many BNPL solutions include multi-currency functionality, not all provide the option to automatically choose the currency based on the buyer's zip code. Another advanced feature is the ability to offer conversion rates for multiple currencies that can be updated in real-time or near real-time.

Conduct demos

Ideally, demos should simulate the BNPL process, either online or in-store. Vendors must show how their software supports payment and repayment options (such as debit and credit cards or PayPal) or how a buyer can register for installment payments at checkout. 

The user experience is also important to demonstrate. A demo should show how easily BNPL users can provide financing options to buyers.

Selection of Installment Payment and Buy Now Pay Later (BNPL) Software

Choose a selection team

The selection team for BNPL software should include the departments in charge of e-commerce, in-store retail, B2B sales, and accounting. 

Negotiation

The negotiation should consider that BNPL providers rely on partnerships to deliver features and integration. This means that buyers need to vet both BNPL vendors and their partners. They also need to understand the cost of the software and services vendors and partners provide.

Final decision

The winning solution should provide the features and benefits mentioned above at a reasonable price. It is also important that the vendor selling it and its partners have positive reviews, testimonials, and expertise in the industry.