Why Payment Solutions for Retail Should Include BNPL Acceptance
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Payment solutions for retail that include buy now, pay later (BNPL) options help meet the demand for this payment method. Latin American consumers may be faced with the challenge of affording large purchases during inflationary times or just want an easier way to balance their budgets. Additionally, solution providers are offering BNPL in digital wallets, giving unbanked consumers a way to take advantage of this option. Retailers who deploy Android POS terminals that integrate with BNPL solutions can expand their customer bases, capture more sales of higher-value items, and build stronger customer loyalty.
More consumers are choosing buy now, pay later (BNPL) payment options. ResearchAndMarkets.com expected the BNPL payment market in Latin America to grow 27% annually in 2025 and at a 20.9% compound annual growth rate (CAGR) from 2025 to 2030. If the trend continues, by the end of that period, the BNPL market will have a value of USD 41.7 billion. Businesses need to recognize that demand for payment solutions for retail with BNPL isn’t only online. More consumers are looking for the option of in-store transactions.
What is BNPL?
BNPL schemes enable consumers to pay for purchases in equal payments over several weeks or months, depending on the service. The customer makes the first payment at checkout, and the remaining follow on a regular schedule. The payments are drawn from a bank or other payment account and make it easier for shoppers to afford bigger-ticket items and spread the cost over time rather than all upfront.
BNPL is also a means for underbanked consumers to purchase items on installment that they can spread out over time. With smartphone use now widespread, many low-income consumers have adopted digital wallets as an alternative to traditional banking. Solution providers like Nubank and Mercado Pago offer zero or low-interest, buy now, pay later purchasing options to these consumers.
Buy now, pay later will continue to play a role in financial inclusion, with options catering to consumers’ needs for minimal paperwork and short repayment cycles. By lowering the barrier to entry, payment solutions for retail that include buy online, pay in-store options will bring millions of new consumers to the credit system, allowing them to establish credit histories and improve financial literacy.
Why is Buy Now, Pay Later Use Growing?
Several trends are making BNPL a popular option now. Statista reports that consumers in Argentina and Venezuela still struggle with high inflation. BNPL can help them budget for essentials and maintain some liquidity when they need to purchase appliances, electronics, or other high-value necessities. However, for consumers in any part of the region, BNPL can help them manage their cash flow, avoiding spikes in spending with regular, manageable payments.
BNPL use has also increased with the growth of e-commerce in Latin America. Mercado Libre and Amazon Latin America have buy now, pay later options embedded in their platforms, making it easy for purchasers to select BNPL at checkout. But the consumers who are familiar with the payment option are now asking to use the option for high-value purchases in physical stores.
The Benefits of Payment Solutions for Retail with BNPL Payment Options
Meeting the demand for BNPL in physical stores can give retailers a competitive edge, particularly those who sell higher priced items such as electronics, home improvement materials, fashion, and travel and have customers who prefer in-person service.
|
BNPL Features |
Benefits to Retailers |
|---|---|
| Payments are split into equal payments over weeks or months | More sales conversions because large purchases are more affordable |
| Upfront payment in full | The BNPL provider pays the retailer in full up front and follows up with the consumer for the balance. |
| Connection with new consumers | The ability to expand the customer base to unbanked consumers |
| Digital interaction | Meeting consumers' expectations for convenient digital payments |
Payment Solutions for Retail Include In-Store BNPL Acceptance
With modern Android POS terminals, retailers can accept BNPL payments in their physical stores without slowing down the checkout. When an Android payment platform integrates with BNPL:
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The cashier totals the sale.
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The customer chooses the BNPL option on a customer-facing screen, or the cashier selects the option from the POS screen.
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The customer opens their BNPL app or chooses the BNPL option in their mobile wallet.
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The customer’s app generates a QR code that the merchant scans with a barcode scanner or the camera on the payment device. Or the merchant generates a QR code that the customer scans to pay, depending on how the merchant’s POS system is configured.
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The retailer gives the customer a paper or digital receipt, providing proof of the payment.
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The BNPL provider sends payment to the retailer according to their terms.
While payment technology is available that allows retailers to accept BNPL in-store, legacy terminals issued by banks may limit their ability to do so. Retailers using last-generation technology will need an upgrade; however, the return on investment (ROI) can be fast from increased revenues and a growing base of new, loyal customers.
Retailers must also be careful to ensure that the in-store experience isn’t slower or less customer-friendly by adding a BNPL option. A BNPL transaction will take longer than tapping a mobile wallet, so retailers must make sure other consumers don’t wait longer in the checkout queue. Retailers should also be prepared to educate on this payment method and help consumers through the process of making their first BNPL purchase while ensuring good customer experiences for all shoppers.
How to Meet the Demand for BNPL In-Store
Ingenico payment technology makes BNPL payments fast and easy in-store. AXIUM from Ingenico allows retailers to accept BNPL in-store. AXIUM payment devices allow you to fuel customer loyalty by offering a popular payment option and giving customers more control over their budgets. You’ll also remove barriers for unbanked customers who have adopted digital services that include BNPL. Your team will also find BNPL payment solutions for retail easy to use with minimal training.
Are you ready to make a change that can help customers afford bigger purchases and offer them better shopping experiences? Contact us to learn about AXIUM payment solution for retail that supports buy now, pay later.
FAQs
Next-Gen AXIUM is Ingenico's latest Android-based payment platform, designed to help businesses, banks, and acquirers adapt to the evolving payments landscape. Built on a unified architecture and powered by Android 14, it provides a future-ready foundation for payment acceptance across a broad portfolio of devices.
Ingenico provides a comprehensive suite of Retail POS solutions designed to streamline transactions, enhance customer experiences, and support every payment method.
- Integrated POS: The All-in-One Smart Solution
Ingenico’s integrated POS solution, the AXIUM CX9000, seamlessly combines payment acceptance and business management in a single device. With a built-in cash register and payment terminal, the AXIUM CX9000 streamlines operations, boosts efficiency, and delivers a frictionless checkout experience.
- Retail PIN Pads: Secure, Versatile, and Built for Retail
Ingenico offers a full range of retail PIN pads designed to integrate seamlessly with any checkout system. These devices support all major payment methods, including contactless, chip & PIN, mobile wallets, and QR codes, ensuring a smooth and secure transaction experience. Built for speed, durability, and ease of use, they enhance customer interactions at the point of sale while maintaining the highest security standards. Explore the range.
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The AXIUM EX8000 is a compact, printerless smart POS designed for modern retail environments. With built-in barcode scanning, seamless support for all payment methods, and easy integration with value-added services like inventory management, it enhances mobility and checkout efficiency for businesses.
- Ingenico SoftPOS: Tap & Pay with Any Android or iOS Device
Ingenico SoftPOS is a flexible software-based solution that transforms any Android smartphone or tablet into a contactless payment terminal. This innovative technology allows businesses to accept payments anywhere without additional hardware, making it an ideal add-on for in-store mobility, allowing sales associates to assist customers anywhere and reduce queues, while accepting contactless payments with no extra hardware. With security and compliance at its core, SoftPOS delivers a frictionless, cost-effective way to modernize the checkout experience.
- Unattended Payment Solutions: Secure Self-Service Transactions
Ingenico’s unattended payment solutions enable businesses to offer self-service transactions in retail, hospitality, transportation, and other industries. These robust, weather-resistant payment terminals support contactless, chip & PIN, and mobile wallets, ensuring secure and frictionless payments in vending machines, kiosks, and unattended retail environments.
Accept payments anytime, anywhere, on any device. Upgrade your checkout experience with Ingenico’s Retail POS solutions. Discover more here.
Ingenico’s retail payment solutions empower businesses with secure, seamless, and future-ready payment options, ensuring a smooth customer experience and optimized store operations.
- Omnichannel Payments – Accept payments in-store, online, and on mobile, ensuring a unified and consistent customer journey.
- Comprehensive Payment Method Support – Process credit and debit cards, digital wallets, QR codes, and Buy Now, Pay Later (BNPL), allowing customers to pay how they prefer.
- Seamless Integration – Ingenico solutions integrate effortlessly with existing POS systems, printers, and Electronic Cash Register (ECR) systems via global APIs for a frictionless setup.
- Large Range of Payment Solutions
- In-Lane Payments – Reduce checkout times with fast, secure transactions at traditional counters.
- Mobile In-Store Payments – Empower sales associates to improve efficiency, assist customers, process payments anywhere on the shop floor, and help reduce queues.
- On-the-Go Payments – Secure and reliable payment options for taxi chains, deliveries, and pop-up stores.
- Self-Checkout & Store Pickup Lockers – Enhance convenience with unattended payment terminals and click & collect services.
- Secure & Compliant Transactions – Industry-leading security measures, including PCI compliance and encryption, protect against fraud and ensure data security.
- Commerce-Enhancing Services – Simplify the integration of value-added features from third-party providers, such as extended warranties, digital coupons, loyalty programs, surveys, and charitable donations, to enrich customer engagement.
With Ingenico, your business gets the flexibility, reliability, and security needed to create seamless payment experiences and drive customer satisfaction.
Ready to elevate your payment experience? Our experts are here to help you find the perfect payment solution for your business. Contact us today.
A PTMS (Payment Terminal Management System) gives retailers a single, cloud‑based control plane that speeds up device rollout – new locations or pop‑up concepts are live in days; delivers software‑defined functionality – services are added, updated or retired remotely; provides data‑driven visibility – real‑time metrics guide where and how to expand; offers API‑first integration – payments become a programmable building block for any new digital or physical service. Together, these capabilities let a retailer launch, test, and scale new services (self‑service kiosks, loyalty programs, AI‑driven checkout, omnichannel experiences, etc.) without the cost, time or risk of traditional hardware‑centric deployments.
Ingenico’s Retail POS systems are designed with security at their core, ensuring compliance with the highest industry standards to protect transactions and customer data. They are PCI PTS-certified, meeting the Payment Card Industry’s strict security requirements for PIN entry and cardholder data protection. Additionally, Ingenico’s POS systems support EMV standards, enabling secure chip-based transactions that reduce fraud risks. For businesses looking to implement a P2PE (Point-to-Point Encryption) solution, Ingenico provides support through On-guard — a security solution that helps businesses build their own PCI P2PE-compliant environment by offering encryption/decryption and key management services. Ingenico continually updates its technology to stay ahead of emerging security challenges, while also complying with regional and global regulations to provide businesses with a trusted and future-proof payment solution.
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