Is Payhaps BNPL?
No. Payhaps is not a buy-now-pay-later or credit product. There is no lending, no installments, no interest, and no debt. Shoppers pay the full normal price at checkout in the usual way. Payhaps is a reward layer where 1-in-99 orders is selected for a full reward that Payhaps funds.
How Payhaps differs from BNPL
- BNPL is financing; Payhaps is a reward.
- With BNPL the shopper takes a loan; with Payhaps the shopper pays normally and owes nothing.
- BNPL charges the merchant a financing fee; Payhaps charges a performance fee only on activated orders.