Buy Now Pay Later: Why merchants need it

Editorial Team

3 min read
Merchant handing purchased item to customer

If you’ve shopped online lately, you’ve probably noticed an uptick in the number of online and in-store retailers offering a Buy Now Pay Later (BNPL) plan.

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Fact is, consumers are driving fast growth. Buy Now Pay Later (BNPL) financing grew at 3 times the rate of all sales for Cyber Week 2021, and 4% of U.S. sales on Black Friday 2021 were paid for with BNPL.  That’s a 475% growth rate from 2019! 1

Committed to helping merchants keep up with consumer demand, Clover is making a simple-to-use, easy-to-set-up BNPL solution available to qualifying Clover merchants.

Introducing Pay Later 

Clover is now offering a pay-over-time technology solution that helps people make purchases with easy-to-understand payments. And it’s available online and in-store for Clover merchants who qualify. 

4 reasons merchants need BNPL now 

With increased customer demand for BNPL, online and in-store retailers should be preparing now to meet that customer demand. We see 4 great reasons now’s the time for merchants to introduce BNPL to their customers. 

1. BNPL boosts sales

BNPL removes budget and cash flow barriers for consumers. That means, consumers can buy more of the things they want–even higher priced items–in a way that’s manageable for them. For merchants, that can mean more sales. 

2. Shoppers can pay the way they want

BNPL appeals to consumers who want different ways to pay for the products they want and need. Indeed, according to this 2021 study, a whopping 83% of BNPL users wish even more businesses offered it.

3. The technical lift is minimal

Clover shoulders the technology lift of setting up BNPL, so you don’t have to. That means, for online retailers, Pay Later requires only a simple plug-in; for in-store merchants, it’s an easy integration with their Clover devices.

4. It’s easy for your customers

Pay Later is a convenient and simple experience for customers – it’s as easy as shop-apply-pay later.

  • Shop – As customers shop online or in-store, they’ll see prompts to pay over time.
  • Apply – Customers can apply using a quick and simple application that requires only a few pieces of information. They get a decision about their spending limit in real time, and they can choose a plan that suits them.
  • Pay Later – Customers then purchase the items they want using Pay Later. And, if customers haven’t applied for Pay Later before the time of purchase, they can apply right at check out. And that can help drive even more sales. What’s more, merchants are paid upfront at settlement, and consumers pay over time based on the terms of the plan they choose.

That’s it!

Stay tuned for more

Clover is committed to helping you run your business and adding the capabilities you and your customers need.  Pay Later empowers you to offer customers both pay in 4 and installment loans–and to offer these options both in-store and online. All designed to help you drive sales!

At this time, we’re offering BNPL solutions through Clover for select Merchants who qualify. 


1Adobe Trends and Research, January 12th, 2022.

2Cumulative data and case studies from Bread Pays base of merchants across verticals dated Nov 2017 through Oct 2020. Results may vary by merchant and not all merchants will achieve these results.

3The Strawhecker Group Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes, April 2021.