Buy now, pay later
Installment payment solutions such as Afterpay, Affirm, Klarna, and Quadpay grew exponentially after the Pandemic. However, 2022 hasn't been a good year for the BNPL players. Despite the recent crisis, Apple announced its own Buy Now Pay Later solution, and Paypal expanded its solutions by offering monthly installments.
While the industry Shakes and new solutions come to market, Shopify continues to push its native Shop Pay and requires updates to other platform integrations. If you have BNPL solutions different than Shop Pay installed in your store, you probably have a dashboard notice that reads: “Update required for one or more payments providers” and must take action before July 31. Make sure you work on the updates.