In today’s diverse payment landscape, offering multiple payment options is crucial to meet customer expectations and drive sales. Many businesses wonder whether Stripe Terminal, a popular point-of-sale (POS) system, supports payment methods like Affirm, Afterpay, Clearpay, and Klarna. These buy-now-pay-later (BNPL) solutions have grown rapidly in popularity, and integrating them with a POS system can provide businesses with an edge over competitors.
In this guide, we’ll explore whether Stripe Terminal supports these BNPL payment options and how you can provide your customers with flexible payment solutions.
Overview of Stripe Terminal
Stripe Terminal is a POS solution designed to help businesses unify online and in-person payments. It enables businesses to accept credit cards, debit cards, and digital wallets like Apple Pay and Google Pay at physical locations, with seamless integration into Stripe’s broader payment ecosystem.
Key Features of Stripe Terminal:
- Customizable POS integration: Build your own checkout experiences.
- Developer-friendly: Leverage Stripe’s API for easy integration.
- Global reach: Supports payments in over 135 currencies and dozens of payment methods.
- Unified reporting: Easily track both online and in-store payments on one platform.
However, Stripe Terminal’s support for buy-now-pay-later services like Affirm, Afterpay, Clearpay, and Klarna is a common query among businesses looking to offer these options in-store.
Does Stripe Terminal Support Affirm?
As of now, Stripe Terminal does not natively support Affirm for in-person transactions. Affirm is typically integrated into e-commerce platforms, allowing users to make purchases online and pay in installments over time. While Affirm offers significant benefits for online businesses, in-store support through Stripe Terminal is not yet available.
If you want to offer Affirm in-store, you may need to explore alternative POS systems or directly integrate with Affirm’s in-store API. However, businesses can still offer Affirm for online purchases using Stripe’s standard online checkout, which supports Affirm as a BNPL option.
Does Stripe Terminal Support Afterpay and Clearpay?
Afterpay, known as Clearpay in the UK, is another popular BNPL service. Unfortunately, Stripe Terminal does not currently support Afterpay or Clearpay for in-store transactions. Like Affirm, Afterpay and Clearpay are more commonly available for online purchases through Stripe’s e-commerce integration.
For online transactions, businesses can easily integrate Afterpay/Clearpay with Stripe’s checkout options, offering flexible payment solutions to customers. To extend this capability in-store, merchants would need to explore specialized POS solutions that natively support these BNPL options, such as Square.
Does Stripe Terminal Support Klarna?
Klarna, a leading BNPL provider, has seen rapid growth, particularly in Europe and the US. Stripe’s online payment gateway does support Klarna for e-commerce, enabling customers to use Klarna at checkout.
However, Stripe Terminal does not currently support Klarna for in-person transactions. Klarna remains available as a payment option for online shoppers using Stripe, but in-store Klarna support will require a different solution.
Alternative Options for BNPL in Stores
If you want to offer BNPL options like Affirm, Afterpay, Clearpay, or Klarna for in-person transactions, here are some alternative strategies:
- Use Multiple POS Systems: While Stripe Terminal offers great integration for various payment methods, you might consider using a second POS system that supports these BNPL services. For example, Square Terminal supports Afterpay for in-person payments, allowing you to provide more flexible payment options.
- Direct Integration with BNPL Providers: Some BNPL providers, such as Affirm and Klarna, offer their own in-store payment solutions through APIs. You can integrate these directly into your custom POS system to support these payment methods at checkout.
- Explore Partnerships with BNPL Providers: Contact BNPL providers like Affirm, Afterpay, and Klarna to explore opportunities for integrating their solutions into your in-store experience. Many providers are open to partnerships and can provide specialized hardware or software to support in-person payments.
- Hybrid Online-to-Offline Checkout: If you can’t offer in-person BNPL options, you can direct customers to complete their purchases online and pick up their items in-store. Stripe’s online payment gateway supports all major BNPL services, allowing for a seamless online checkout experience.
Why Offer Buy-Now-Pay-Later in Stores?
If you’re wondering why you should integrate BNPL services into your in-store checkout process, here are some of the key benefits:
- Increase Sales: BNPL options often encourage customers to purchase more expensive items or buy more than they originally planned, boosting average order value.
- Improve Customer Experience: Offering flexible payment options like Klarna or Afterpay can enhance customer satisfaction, as it provides them with more control over their spending.
- Attract New Customers: Many shoppers seek out retailers that offer BNPL services, as these payment options make larger purchases more manageable.
- Reduce Cart Abandonment: Although this applies primarily to online shopping, offering BNPL services at checkout can reduce the likelihood of customers abandoning their purchase due to upfront costs.
Stripe Terminal and BNPL Services
While Stripe Terminal currently supports a wide range of payment methods, it does not yet natively support Affirm, Afterpay, Clearpay, or Klarna for in-person transactions. Businesses looking to offer BNPL options at physical locations will need to consider alternative solutions, such as integrating with these providers directly or using a different POS system like Square.
However, Stripe’s online payment gateway fully supports Affirm, Klarna, Afterpay, and Clearpay, making it an excellent option for businesses focused on e-commerce.
For businesses that want to offer more flexibility and boost sales, BNPL options are a great tool. Keep an eye on Stripe for future updates, as it may expand its support for these payment methods in the future.