Create a BNPL Product
Buy Now, Pay Later (BNPL) offerings have become a key competitive tool for lenders, payment providers, and merchants. Whether you're enabling flexible financing for small businesses, e-commerce buyers, or in-store customers, a BNPL product allows your customers to split payments over time without compromising on their buying power or your cash flow.
BNPL also supports better customer retention, increased average order value, and gives you a clear framework for controlling credit risks.
Prerequisites
Before configuring a BNPL product, ensure the following services are already set up:
Product Configuration
Foundation for creating credit products
Credit Contract Service
Enables contract management for repayment schedules
Entity Service
Needed to segment customers and merchants
Collateral Service (if applicable)
If any BNPL scheme requires secured payments
Fee Service
To configure late fees, processing fees, etc.
Template Service
For generating customer-facing contracts and agreements
Steps to Create a BNPL Product
1. Create a New Product
Navigate to the Products section and create a new product. Set basic details like product name and version. For example:
Name: BNPL Small Business
Version: 1.0.0
2. Add the BNPL Service
Click + Add service and select Buy Now Pay Later from the list of available services. This attaches BNPL logic to your product configuration.
3. Configure BNPL Terms
These define the base identity of your BNPL product.
Group: Automatically populated as “BNPL”
Code: Unique code identifier for internal tracking
Name: Friendly name like “BNPL for Merchants”
4. Set Roles and Scope
Define the main actors and target audience.
Owner: Legal entity that owns and disburses the credit
Merchant: Select the merchant entity linked to the BNPL scheme
Customer Sectors and Segments: Limit the product to specific business types (e.g., “Retail” or “SME”)
5. Credit Limit Configuration
Define how much credit can be offered per customer.
Credit Limit Rate: Set a default credit limit, such as 1000 EUR
Type: Choose product behavior type (e.g., fixed installment, deferred payment)
6. Choose Settlement Type
Select how repayments should be handled:
Examples: Equal Installments, Deferred Until End, or Flexible Schedule
7. Configure Fees
Use predefined fee types from the Fee Service:
Fee Type: Choose from Application Fee, Processing Fee, etc.
Default, Min, Max Values: Set thresholds for flexibility and compliance
8. Attach Templates
Link agreement templates that customers will sign:
Template Name: Choose from available legal templates
Default Language: Select default language for customer communication
Description: Optional note about the template
9. Save and Activate
Once all fields are configured, click Save. Review your BNPL product and set it to Active once you're ready to deploy it to customers.
This BNPL product can now be linked to contracts and disbursed to qualified customers. Because it's built using pre-configured services, every fee, schedule, and logic layer is automatically enforced helping you stay compliant, scalable, and customer-friendly.
Use this product to offer flexible payment plans, digital contracts, and automated repayment tracking in one unified solution.
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