E-Commerce & Product Sellingbeginner
Buy Now Pay Later (BNPL)
Definition
A payment option that lets customers split a purchase into interest-free instalments, popular services include Klarna, Clearpay, and Laybuy.
Why it matters
BNPL removes the upfront cost barrier, increasing average order value and conversion rates, especially for higher-priced products.
Example
A furniture brand adds Klarna as a payment option. Average order value increases by £120 because customers now afford pieces they previously hesitated over.
Related terms
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