August 17, 2022


Skillful Business Crafters

Big Brands Want in on “Buy Now Pay Later”

If BNPL seems like a passing glance to you, then maybe you haven’t heard the latest developments in the space–new milestones in the sector show a promising future. 

Buy Now Pay Later is a way for consumers to buy products now but pay for them over time. This service also goes by the name “Deferred payment,” “Installment plans,” or even “Pay later.”

A recent survey conducted by found that more than one-third of Americans (35%) cannot pay off their credit card balance in full each month. These consumers resort to various strategies to keep up with their monthly payments, including taking on extra work and using cash advances and BNPL plans.

Luckily, more “pay later” players are coming on board as a way to reinvent personal financing.

Big Box Retailers to Hop Onboard


As 2021’s festive season approaches, Walmart publicized that it would officially drop its layaway service and focus on Affirm in a BNPL deal. 

While Walmart and Affirm have worked together since 2019, the move to formally end layaway will perhaps persuade more buyers who are still reluctant to apply for BNPL.


Recently, in August, Amazon also publicized a deal with Affirm. Through the partnership, Amazon will allow customers to pay for specific items worth $50 in bits.

This offering will launch in a few months.

According to Greg Fisher, the Senior Marketing Officer for Affirm, the brand boasts the most user-friendly BNPL product, with zero charges, even if a customer delays a payment. Affirm also guarantees high approval rates thanks to its AI-driven underwriting process.

Other Big Players Eyeing BNPL

Besides Affirm, many other players are preparing their BNPL offerings.


Recently, Square announced that it would acquire Afterpay, an Australian payment plan organizer, in a $29 billion deal.


According to Bloomberg, Apple is teaming up with Goldman Sachs in a BNPL deal, citing an insider.

Final Words

BNPL is a great way to get customers to try your brand. And it’s only going to grow as more companies embrace this model and customers adopt new shopping methods. Still, we must prepare to counter the new set of problems it shall present.

Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of best payment providers. He also writes non-fiction on subjects ranging from personal finance to stocks to Cryptopay. He enjoys eating pie with ice cream on his backyard porch, as should all right-thinking people.