Deferred payments, abbreviated as BNPL (Buy Now, Pay Later), is a service that allows you to buy goods and pay for them at a later date, usually within 30 days. According to the predictions of "Global Payments Trends", in 2025 as many as 12 percent of all e-commerce transactions will be finalized using this payment method. In Poland, BNPL is still in its infancy, but the pace at which its popularity is growing, especially in the fashion industry, allows us to predict that we will soon catch up with European indicators in this respect. According to the report "Poland Buy Now Pay Later Business and Investment Opportunities Databook Research&Markets", the annual growth rate of BNPL in our country is as much as 48 percent.
The availability of this service has a major impact on this result. 73% of the largest stores in Poland already offer deferred payments ("Basket of the Year 2022" report). Of these, 88% have implemented the PayPo solution. From September, Paynow customers will also be able to join this group.
How to use BNPL with Paynow?
Entrepreneurs interested in implementing BNPL in their e-shop should contact an mBank advisor or write to [email protected] For using deferred payments, Paynow will charge a commission of 1.2% of the transaction amount. The service will be launched on September 1.
Paynow – modern online payments
Paynow is an advanced technological payment gateway. Thanks to functions such as payment increase, merchants gain up to 5 percent more paid orders. The gateway is based entirely on cloud solutions, which means that it can easily handle hundreds of transactions per second. That is why it has been used for online payments during the WOŚP finals for several years. Over 20 thousand customers have already used Paynow, including the largest online stores in Polish e-commerce such as Komputronik and Morele. mElements – a company from the mBank Group – is responsible for its development.
Today, merchants using Paynow will find the following payment methods available: BLIK, fast online transfers (Pay By Link), credit card and payment wallets – Google Pay and Apple Pay.
What do stores that offer deferred payments gain?
PayPo data shows that customers who buy using deferred payments are more willing and quicker to make a purchase decision, which allows the store to sell more. The value of a shopping cart with PayPo is on average 20-40 percent higher compared to other payment methods, and the number of abandoned carts drops by as much as 15-20 percent. Customer loyalty is also increasing – according to the PayPo report "Deferred payments in Poland 2023" 69 percent of people using BNPL indicated that they have canceled a purchase due to the lack of deferred payments in a given store.
