Buy Now, Pay Later providers offer flexible and interest-free payment options to your learners, making purchases more affordable. Give your learners the ability to pay in installments at no risk to you.
As of January 2023, BNPL is in an early beta release to a select group of Course Creators. We are working hard to bring this feature to all Creators using Thinkific Payments. Interesting in becoming a Beta Tester? Contact Support for more information.
In this article:
Processing Refund Through BNPL Providers
About This Feature
In joining the beta, Creators on TCommerce: Powered by Thinkific Payments in Thinkific Payment-supported countries can leverage Buy Now, Pay Later payment methods Affirm, Klarna, and AfterPay.
Providing BNPL as a payment option to your Learners offer you:
- Faster business growth
On average, adding BNPL results in a 7% increase in conversions because Learners have access to a convenient form of credit, which can lead to more sales. - Reduced staffing needs
Offering payment plans through a BNPL provider can reduce the need for additional staff to follow up on failed payments, as the provider handles payment collection and processing. - Lower capital requirements
With BNPL, you receive the payment right away, while Learners have the option to pay over time. This can free up capital that can be invested in marketing, advertising, or staffing, rather than being tied up in outstanding account receivables.
How BNPL Works
BNPL providers can only be used as a payment method for one-time payments. It is not available for subscriptions or payment plans.
Students see the option to complete their purchase with interest-free installments with a BNPL provider during checkout. When they choose a BNPL provider, the student will be directed to the BNPL provider's website to create an account using their mobile number or email address before completing the purchase.
You will be able to see which BNPL provider a learner used to purchase your product through the Transactions Table under Payment Method. When a student purchases with a BNPL provider, you will receive the full transaction amount in your bank account via Thinkific Payments, just like credit card transactions.
Supported BNPL Providers
Thinkific Payments processed Buy Now Pay Later (BNPL) services from Affirm, Afterpay, Clearpay, and Klarna. During the checkout process, Learners will be presented with only those BNPL providers that are available in their country of residence.
| Provider | Customer Country | Repayment Options | Transaction Limit |
| Affirm | United States |
4 interest-free payments in fortnightly or monthly installments |
50 USD minimum; 30,000 USD maximum For loans, 17,500 USD maximum. If a charge is >$17.5k, the customer pays for the difference immediately as the down payment |
| Afterpay/Clearpay | Australia, Canada, France, New Zealand, Spain, United Kingdom, United States |
4 interest-free payments over 6 weeks |
1 USD minimum; 2,000 USD maximum or local equivalent |
| Klarna |
Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Spain, Sweden, United Kingdom, United States US-based creators cannot accept Klarna payments from non-US customers |
Pay in 3 or 4 interest-free installments Pay in full in 14 or 30 days Pay outright with stored payment details Monthly payments for up to 36 months |
10 USD minimum or local equivalent. (5,000 USD+ for financing possible; maximum varies by customer) |
BNPL Transaction Fees
Any transactions processed without a BNPL provider will be charged the standard Thinkific Payments fees.
The transaction fees for Buy Now Pay Later (BNPL) services differ depending on the location or region in which your business is situated.
| Creator Country/Region | One-Time Payment Transaction |
|
United States Canada Australia New Zealand |
6.5% + 30 cents per transaction, with no other additional fees |
| European Union | 6.5% + 25 EUR cents per transaction, with no other additional fees |
| United Kingdom | 6.5% + 20 pence per transaction, with no other additional fees |
Processing Refunds Through BNPL Providers
| Provider | Refund Eligibility | Refund Process |
| Affirm | Affirm supports partial or full refunds for up to 120 days after the original purchase. |
After Thinkific Payments initiates a refund, Affirm pauses the customer’s payment plan and refunds the customer for any payments they’ve already made, minus any interest paid. Thinkific Payments doesn’t credit back the processing fees in the event of a refund. |
| Afterpay/Clearpay | Afterpay supports full or partial refunds for charges up to 180 days after the original payment. |
Refunds for Afterpay payments are asynchronous. |
| Klarna | Klarna supports full or partial refunds for up to 180 days after the initial payment completes. | Klarna cancels any remaining payments on a refunded charge and returns the already-paid amount to the customer. Refunds usually take 5-7 business days to complete but may take longer depending on the customer’s financial institution and the type of purchase. |