Setting Up Buy Now Pay Later For Sales

Buy Now Pay Later (BNPL) is a payment option that allows customers to purchase items immediately and pay for them in installments. Popular BNPL providers include Affirm, Klarna, and Afterpay. Offering BNPL options can increase sales and improve customer satisfaction by providing flexible payment plans.

NOTE: The BNPL option only works in the online store with Stripe at the moment.

Step-by-Step Setup Guide

1. Configuring Payment Methods on Stripe:

   - Go to Settings > Product Settings > Payments > Payment Methods in the Stripe Dashboard

   - Enable the BNPL providers (Affirm, Klarna, Afterpay) you wish to offer

   - Ensure each provider is correctly configured and activated

Note: If these payment methods are not activating, they are not available for your region/business yet. You can check the product support for the methods here

2. Setting Up Products in Referins:

   - Go to Payments > Products and add/edit all the products you wish to include in your online store

   - In the product configuration, toggle on the “Include in Online Store” setting, as the BNPL option only works with the online store at the moment

3. Set Up Your E-Commerce Online Store in Referins:

Method 1:
- Go to sites > websites

   - Create or edit a website and then open the page editor

   - Add a new element using the “+” button and click on the “Store” category to create your online store

Method 2:
Alternatively, you can access the stores tab under sites to create your store from scratch or available templates.

Eligibility and Requirements

Geographic Availability:

BNPL options are supported in specific countries. Ensure your business operates in one of these regions to offer these payment methods. You can check the list of countries by checking the documentation provided by Stripe

Transaction Limits:

Each BNPL provider has minimum and maximum transaction amounts. These limits vary by country, so it's important to check the specific limits for your region

Business Categories:

Your business category must be correctly set in your payment processor (e.g., Stripe) to be eligible for BNPL options. Certain categories may have restrictions or be ineligible for specific BNPL providers.

Benefits of BNPL for Your Online Store

Increased Sales:

Offering BNPL options can lead to higher conversion rates and larger order sizes. Customers are more likely to complete purchases when they have the flexibility to pay over time.

Customer Satisfaction:

BNPL enhances the shopping experience by giving customers more payment options. This flexibility can lead to increased customer loyalty and repeat business.

FAQ: Advanced Use Cases and Troubleshooting

1. What happens if BNPL providers don’t show up in my Stripe dashboard?

• This likely means your region or business category is not eligible. Check Stripe documentation for supported regions and categories.

2. Can I use BNPL for products not included in my online store?

• No, BNPL is only available for products listed in the online store. Ensure the “Include in Online Store” toggle is enabled for relevant products.

3. How do I troubleshoot if a BNPL option isn’t working?

• Confirm that the provider is enabled in your Stripe dashboard.
• Ensure your business meets transaction limits and category requirements.

4. Can customers outside eligible regions access BNPL options?

• No, BNPL is restricted to specific regions. Customers outside those regions won’t see these payment options.

Conclusion

Offering BNPL can enhance your sales and customer satisfaction by providing flexible payment options. It’s a valuable addition to any online store looking to improve conversion rates and customer loyalty.

Implementing BNPL is straightforward and can lead to significant benefits for your business. Follow the steps outlined to integrate these payment methods and start seeing the advantages.