Buy Now Pay Later apps create a sort of "Blue Ocean," often capturing a segment of your site visitor that wanted to buy, but didn't really have the budget right now. And those that do have some budget, may find themselves adding another product to the cart before checking out with a Buy Now Pay Later app.

You can use a Buy Now Pay Later app at any stage of your business, most of them work as a percentage of sales that get processed through them. These apps have proven to resonate more with younger generations and those who may not have their own credit card. And naturally the older generations are less likely to adopt. That doesn't mean it hurts your conversion rate to add the option to your site though.

Because they typically charge some sort of additional markup, you need to calculate how this impacts margin - which typically it has an overall positive increase on margin, but for low margin businesses, or one product businesses, maybe you can't recoup the marginal impact.

Companies with higher average order values benefit greatly from this tool, my sweet spot is when you're right over $100, maybe under $500. That is a really good spot to use a Buy Now Pay Later app. That said, these tools can work for even lower average order value stores, and there are a subset of apps that cater to the larger purchases - typically those are more like a true credit line or loan.

This is an interesting category that kind of brings the whole team together. Marketing may push to install the app, you need your head of Ecommerce to green light changes to the site. You need to talk with Finance on how this will impact payments and change processes. And you need to inform customer service on how to deal with issues related to this tool.

You should be looking for apps that are extremely user experience oriented. My preference are apps that offer 0% cost to the customer and don't do a credit check. You also want to make sure this app integrates with your Ecommerce platform - Shopify, BigCommerce, etc.