Where to shop using buy now, pay later

Buy now, pay later (BNPL) is an increasingly popular offering across many different types of retailers. From clothing and home goods to toys and tech, businesses are making it flexible for customers to complete their purchases through BNPL as a payment option.

As Consumer Financial Protection Bureau reported, BNPL loans increased 970% across the top five lenders from 2019 to 2021.¹ Meanwhile, Juniper Research predicts BNPL spend will reach $437 billion by 2027, up from $112 billion in 2022.²

Shoppers are expected to keep using BNPL to make purchases, breaking up their payments and paying over time. It's important to know what it entails and how you can use this payment method to make your shopping experience convenient.

Here, we'll explain what BNPL is and the common stores and sites buy now, pay later is used at.

What is buy now, pay later and who can use it?

Buy now, pay later is a solution that lets you pay for a product or service in bi-weekly or monthly installments over time, such as a few months or even a few years. Also known as BNPL, consider it a short-term financing option for customers who want to opt out of paying the full amount for their purchase at checkout.

It's easy to shop with BNPL compared to some more lengthy application and approval processes, such as for credit cards or standard loans. To start, you will need to create or already have an account with an approved buy now, pay later vendor. When you're making a purchase from a store that accepts BNPL, the BNPL option will be there at checkout. Once you select it, you’ll apply for the BNPL loan — typically, you will need to provide information such as your name, date of birth, Social Security number, and a verified payment method. And don’t worry, generally a decision is made within seconds.

Be sure to research options for buy now, pay later companies to find the right solution for you. Each may come with their own fees, interest rates, down payment requirements, and terms of use. The good news is there's usually no hard credit check needed for approval. The vendor may run a soft credit check, but that won't affect your credit score.

Depending on your financial needs and preferences, there are different ways to break up your payments using buy now, pay later. With the Pay in 4³ method from PayPal, for example, you can spread out purchases over four payments. So if you're buying a $400 product, you'll pay $100 at checkout and then $100 every two weeks for the next six weeks. At that point, your purchase will be fully paid off.

On the other hand, you can use a method like Pay Monthly⁴ to split up larger purchases across a range of monthly payment plans, often ranging from 6 months to even 24 months.

Where can you shop with buy now, pay later?

Many different types of retailers offer buy now, pay later solutions to enhance the shopping experience and give shoppers more flexibility. It's important to understand how these payment methods work across vendors, including the following:

Online retailers

If you have a BNPL account set up, checking out online is easy. Many online stores offer buy now, pay later – you’ll just need to look for it in the payment options. You’ll select your BNPL provider on the checkout page, pick the payment plan that works for you, apply, and you can complete your purchase upon approval – often within a matter of seconds. You can also set up automatic payments using your debit card, credit card, or verified bank account. This way, you won't have to worry about any late fees or penalties for missing payments if the vendor charges those fees.

Other ways to use BNPL

Buy now, pay later isn't just helpful for buying tangible products like clothes, furniture, and electronics. You can also use this solution to book services and experiences, such as flights, vacation rentals, and event tickets. Just make sure the business you're buying from offers BNPL at checkout.