Buy now, pay later—that’s the trend from the previous year. The whole world dived into an unpredictable market situation, which made us use cash wisely and reinvent the way we pay for goods and services. Buy-now-pay-later (BNPL) solutions helped millions of people pay for goods that they needed during the quarantine; the next few months, the share of BNPL businesses rose, and their revenues skyrocketed.
Payment processing solutions are crucial to process payments made through BNPL solutions. Some companies have their own processing solutions, while others integrate existing payment processing (PSP) solutions. This type of integration allows companies to reach more merchants because they all use different payment processors.
In this article, we gathered information on what integrations with payment processors the most popular BNPL solutions have and how this influences their value.
Zip Co
Link: https://zip.co/
Zip is a leading player in the digital retail finance and payments industry, offering point-of-sale credit and digital payment solutions. Zip is focused on offering transparent, responsible and fairly priced solutions to consumer’s and SME’s.
Investors: Westpac, National Australia Bank
Total: $421M
POS Integrations: PC Eftpos, Retail Directions, Magenta POS, Microsoft Dynamics AX, Vend, Pronto (PC Eftpos), Retail Express, Microsoft Dynamics RMS (PC Eftpos), Counter Intelligence POS (PC Eftpos), ERPLY, Retail Edge, Think Software, Gumnut software, Sympac, Advance Retail, Solemate, Quest (Terminal Integration), Zenoti, Costar, POS Solutions, OSIPOS (Direct and PCEFTPOS integrations), Surefire Systems, Netsuite, Magestore, Software Of Excellence, Kronos – Konnect Spa and Salon Software, Neko Software, SimpleSalon, Biscount (PCEFTPOS), Megabus – Marlin GTX, Harmony POS (PCEFTPOS Only), Island Pacific (Full Direct POS).
Markets: Australia, New Zealand, United Kingdom, United States.
Afterpay
Link: https://www.afterpay.com/
Afterpay allows shoppers to receive products immediately and pay in 4 simple installments. Cross Border Trade if enabled on your integration with Afterpay, allows you, the merchant to trade online with Australian, New Zealand, Canadian and United Kingdom shoppers.
Investors: $390M (Tencent Holdings)
PSP and POS Integrations: cegid, erply, bizflex, it visions, magenta retail, markinson, retaildirections, vendhq, cin7, niche fashion, simple salon, timely, osipos, retailexpress, hike.
Markets: Australia, New Zealand, Canada, United Kingdom.
Katapult
Link: https://katapult.com/
Katapult provides a no credit required alternative to traditional financing. We partner with both online and brick and mortar retailers nationwide so they can provide purchasing power to the underserved sub-prime consumer market. This allows them to grow sales and attract an entirely new customer base.
Investors: CURO Financial Technologies, MissionOG, Blumberg Capital, Tribeca Venture Partners Total: $286M
PSP Integrations: Chargeafter, affirm, versatile credit.
Markets: USA.
Mash
Link: https://www.mash.com/
Mash is a reliable and flexible payment method. When you choose to use Mash at a payment terminal, you will receive an invoice sent to your home. You will then have 14 days to pay—or you can choose an installment plan.
Investors: Finstar Financial Group, Fortress Investment Group.
Total: $138M
PSP integrations: Ingenico, Domec, Tink, Nets, Verifone.
Markets: Finland, Sweden, Poland, Spain (soon).
Laybuy
Link: https://www.laybuy.com/
Laybuy is a fast-growing “Buy-Now-Pay-Later” provider with a market leadership position in New Zealand and a growing presence in the United Kingdom and Australia.
Investors: £80M from Victory Park Capital (Debt financing).
POS Integrations: Vend.
Markets: New Zeland; expansion into Australia and UK markets.
ViaBill
Link: https://viabill.com/
ViaBill provides a seamless financing solution for thousands of merchants and customers across the world. We’re increasing average order sizes, providing low transaction costs, and putting the customer in focus so they can get what they want when they want it.
Investors: BlackFin Capital Partners, e.ventures
Total: $57.3M
PSP Integrations: Merchants Connections; PayCafe; AltaPay; Manana; QuickPay; ePay; Optile; Centus.
Markets: Denmark, Norway, USA.
Limepay
Link: https://www.limepay.com.au/index.html
Provider of payment services intended to allow retailers and merchants to own the payment process. The company brings together a native, white-label buy now pay later solution and the merchant payment gateway, enabling merchants to integrate an online payments platform with their own branding.
Investments: $27M in 2020
PSP Integrations: They have their own processing.
Markets: Australia.
FuturePay
Link: https://www.futurepay.com/
FuturePay is a non-credit card payment option that allows shoppers to buy now and pay later from any device. A key distinction of the MyTab™️ payment option is that it’s a revolving credit line. This means an account can be opened and approved in seconds and then kept open indefinitely.
PSP integrations: PayCafe, Manana, Merchant Connections, Optile, Payzoff.
Markets: United States, United Kingdom, India, Australia, Ireland, Russia, Philippines, Germany, France, Netherlands, and others.
humm
Link: https://www.shophumm.com/humm-group/
humm provides a seamless interest-free payment platform with repayment options from 10 weeks to 60 months, which makes the big things and the little things in life affordable. In July 2020, humm announced a partnership with BPAY, which means our customers can now use humm to pay for electricity bills, insurance premiums, school fees and more in easy slices, interest-free.
PSP Integrations: Advance Retail, vend, kitomba, magenta retail, pc-eftpos, quest payments system, retail directions, retail edge, tower systems, future business systems, sym-pac, striven.
Markets: Australia, New Zealand (soon).
Procuret
Link: https://procuret.com/
By partnering with professional and essential service suppliers, Procuret allows business clients to pay for purchases in instalments over appropriate terms. Pay in Instalments’ is a swift and secure option that enables clients to pay invoices in instalments over terms that better match the nature of the product or service. It is located on the invoice, quote or e-commerce store of accredited suppliers, helping them convert quicker and better at any stage of the sales process.
PSP Integrations: Stripe, Xero.
Markets: Australia.
Partial.ly
Link: https://partial.ly/
Latitude is an independent digital payment and finance company backed by decades of experience that combines start-up thinking with industry smarts.
PSP Integrations: Quickbooks, FreshBooks, Harvest, Stripe.
