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White-Label Buy Now Pay Later App

By Hyperlocal Cloud

November 22, 2023

Launch a Buy Now Pay Later (BNPL) app with our white-label Buy Now Pay Later app solutions, ensuring a tailored solution that aligns with industry standards and user expectations. Our skilled developers implement secure payment gateways, intuitive interfaces, and personalized features to enhance the overall user experience. With features like secure transactions, quick approval, transparency, and payment flexibility, our white-label Buy Now Pay Later app solutions contribute to the success of your financial organization.

Get in touch with our experts at Hyperlocal Cloud to build a world-class BNPL app and be a part of the trends in the fintech industry.

Facts & Statistics: Buy Now Pay Later App

The global BNPL market size was estimated at $6.13 billion in 2022 and is expected to have a CAGR of 26.1% from 2023-2030.
In 2022, global BNPL transactions were estimated at over $200 billion.
Affirm, Klarna, and Afterpay are some of the popular BNPL apps with millions of users worldwide.

How Does The Buy Now Pay Later App Work?

Buy Now Pay Later (BNPL) apps allow to make purchases and defer the payment over time. When a user selects BNPL at checkout, the app typically partners with a financing company that covers the upfront cost. Users may be required to make a down payment, and the remaining amount is divided into equal instalments.

BNPL apps are convenient for consumers, providing flexibility. Developing such apps leads to great revenue generation and increased sales. Hyperlocal Cloud, a leading on-demand app development company, offers white label BNPL app solutions enriched with amazing features, seamless interfaces, and visually appealing designs.

Features Of Our White Label Buy Now Pay Later App

We add intuitive and interactive features to the Buy Now Pay Later App to ensure seamless transactions and a great user experience.

Deferred Payments

Buy now, pay later (BNPL) apps allow users to postpone the full payment for a purchase. This flexibility is attractive to consumers who may not have the immediate funds but can commit to paying over time.

Instant Approval

A quick and straightforward approval process, providing users with instant access to the financing they need for a purchase. This can be done through a simple application process that may not involve traditional credit checks.

No Interest or Low Interest

Offer promotional periods with zero or low interest rates. If users pay off their balance within this specified timeframe, they can avoid accruing interest. However, it's crucial to be aware of the terms, as higher interest rates may apply if the balance is not cleared within the promotional period.

User-Friendly Interface

A user-friendly interface for a seamless experience. This includes easy navigation, clear information on payment schedules, and transparent terms and conditions.

Payment Scheduling

Choose a payment plan that aligns with their financial situation. Common options include weekly, bi-weekly, or monthly payments. This flexibility allows users to tailor the payment schedule to their income or budget.

Virtual Cards

Provide virtual cards that users can use for transactions. These virtual cards are often linked to the BNPL account and can enhance security during online purchases.

Integration with Merchants

Establish partnerships with various merchants, both online and offline. This integration enables users to utilize the BNPL service across a wide range of retailers, making it a versatile financing option.

Late Payment Notifications

Responsible use is encouraged through notifications. Users typically receive alerts about upcoming payments and potential late fees. This feature aims to help users stay on top of their financial commitments and avoid unnecessary charges.

Benefits Of Readymade Buy Now Pay Later App

Be a part of the worldwide shift towards cashless transactions by developing a Buy Now Pay Later App with our experts at Hyperlocal Cloud.

Increased Sales

BNPL options attract more customers and drive higher conversion rates as the flexibility to defer payments makes purchases more accessible.

Customer Loyalty

Offering BNPL services can build customer loyalty by providing a convenient and flexible payment method, encouraging repeat business.

Partnerships with Merchants

White label BNPL app allows for partnerships with various merchants, expanding the reach and usability of the app across a diverse range of products and services.

Data Insights

BNPL apps gather valuable customer data, offering insights into consumer behavior, spending patterns, and preferences. This data can be leveraged for targeted marketing and personalized experiences.

Competitive Advantage

In a competitive market, having a BNPL option can set an app apart from others, attracting consumers looking for alternative payment methods.

Financial Inclusion

BNPL services provide financial inclusion by catering to consumers who may not have access to traditional credit options, allowing them to make purchases and build credit history.

Reduced Cart Abandonment

BNPL reduces instances of cart abandonment, especially for higher-value items, as customers may be more inclined to complete a purchase with the option to pay over time.

Flexibility for Users

Offering flexibility in payment terms accommodates a broader audience, including those who may prefer spreading out payments rather than making a lump-sum payment.

White Label Buy Now Pay Later App: Revenue Models

Buy Now Pay Later App opens up new avenues of revenue generation with multiple monetization strategies. Explore some of the revenue models and start earning in millions.

Merchant Fees

Charge merchants a percentage of the transaction amount for utilizing your BNPL services. This is a primary source of revenue, and the fee is typically based on the value of the transaction.

Interest Charges

If your BNPL app includes interest on deferred payments, you can generate revenue from the interest accrued on outstanding balances. However, some BNPL services opt for zero or low-interest promotional periods to attract users.

Late Fees

Implementing late fees for missed payments can be a revenue stream. Users who fail to adhere to the agreed-upon payment schedule may incur additional charges.

Subscription Models

Offer premium subscription plans that provide users with additional benefits, such as lower interest rates, higher spending limits, or exclusive deals. Subscriptions can be monthly or annual.

Partnerships and Collaborations

Forge partnerships with other financial institutions, retailers, or service providers. Revenue-sharing models can be established based on referrals, cross-promotions, or collaborative marketing efforts.

How Much Does It Cost To Build A Buy Now Pay Later App?

The cost of developing a BNPL app ranges between $25,000-$60,000. The cost can vary depending on the app's complexity, features, tech stack used, development time, add-on security features, developer’s location, and more.

White Label BNPL cost : ~$30,000

Custom BNPL app cost: ~$50,000

To know the exact cost of white label Buy Now Pay Later app, get in touch with our experts at Hyperlocal Cloud. They will offer you a free estimate based on your project requirements.

Choose Hyperlocal Cloud For White Label Buy Now Pay Later App Solutions

As a top provider of FinTech solutions, Hyperlocal Cloud has been creating strong finance solutions for our global clients. We have helped financial firms expand their financial product and service offerings and integrate next-generation technologies by utilizing our expertise and experience.