In recent years, the “Buy Now, Pay Later” (BNPL) payment model has gained popularity among consumers, especially in the B2C market. But what about B2B retailers? Can you also use this checkout strategy on your Shopify platform? The short answer is yes.

B2B merchants using Shopify can offer BNPL as part of their overall pricing and payments strategy for recurring purchases. In fact, it can be a valuable tool for increasing conversions and increasing sales in B2B transactions. BNPL is an alternative payment option that allows customers to split their purchase into smaller, interest-free installments over a period of time. This can be especially attractive to businesses that need to manage their cash flow and budget more efficiently. By offering BNPL, B2B merchants can offer their customers a more flexible payment option, which can lead to a better experience and greater customer loyalty.

How can B2B merchants implement BNPL on their Shopify platform? There are several possibilities for this.

One option is to work with a BNPL provider that integrates with Shopify, such as Klarna, Afterpay, or Affirm. These providers have easy-to-use plugins and offer customers a seamless payment experience. They also handle the entire payment process, including credit checks and collections, so merchants don’t have to worry about additional administrative work.

Another option for B2B merchants is to use Shopify’s native payment option, Shopify Payments. This payment gateway now offers a BNPL option called Shopify Pay in 4. This allows customers to split their purchase into four equal payments, with the first due at the time of purchase. Merchants using this option receive full payment up front, while customers enjoy the flexibility of paying in installments.

Offering BNPL as part of a B2B merchant’s overall pricing and payments strategy offers some key benefits. Firstly, it can help increase conversion rates and reduce cart abandonment rates, as customers are more likely to make a purchase if they have the option to pay in installments. Second, it can help attract new customers who may not have been able to afford a major purchase up front. Finally, you can improve customer satisfaction and loyalty by offering a convenient and flexible payment option.

Of course, there are some considerations that B2B retailers should consider when implementing BNPL. Merchants need to ensure their cash flow continues to be managed effectively as they receive payment in installments.