Shopify Getting into Buy Now, Pay Later Space

Shopify announced a flurry of new and updated products yesterday; one of the biggest changes was the announcement of Shop Pay Installments which is Shopify’s buy now, pay later solution; it allows merchants to offer an additional payment choice at checkout and allows consumers to split purchases into payments over time, interest free and with no additional fees; the press release notes that the product will launch later this year and that they are working with an unnamed partner; the offering will be available to US merchants; given Shopify’s relationship with a significant number of merchants it will be interesting to see how this impacts the competitive landscape in the point of sale finance space. BusinessWire

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