PayPo introduces a virtual BNPL card – “buy now, pay later” model also in brick-and-mortar stores

PayPo introduces a virtual card that enables purchases in a buy now, pay later model. Currently, a few thousand customers are testing the product, and it will be made available to all interested parties in November. The service can be used in most popular brick-and-mortar stores, as well as online stores.

The PayPo virtual card represents a shift in the use of BNPL services. Thanks to this, the “buy now, pay later” option, previously associated mainly with online purchases, is also available in brick-and-mortar stores. To make a purchase, you simply need to bring your phone close to the payment terminal, and for online purchases – enter the card details. PayPo pays for the transaction, and the customer settles the obligation within the next 30 days or in installments. It’s a new way of shopping in brick and mortar and online stores, offering consumers full freedom of choice in the timing of the payments.

– The PayPo virtual card is a milestone not only for the BNPL industry in Poland, but above all for PayPo itself, which thanks to this solution becomes available in all trade, not only online. Clients have been asking us about this card for years and confirm in surveys that they would gladly use it. We believe that it will arouse great interest from them, as nearly 100 thousand customers have already signed up for card tests. Additionally, the card will allow us to further strengthen the PayPo brand awareness, aiming to make our services the default payment form for millions of consumers – comments Radosław Nawrocki, CEO and founder of PayPo.

According to the Omni-commerce. I shop conveniently 2023 report, every second respondent would like to have the possibility of deferring payment during purchases in brick-and-mortar stores. Among those who have already used BNPL online, as much as 88 percent express interest in also using this method in physical stores. This confirms that the popularity of payments in the BNPL model, previously known mainly from online shopping, has the potential to also move to the offline market.

Step by step – how does the virtual PayPo card work?

The PayPo card is a virtual tool available in the PayPo mobile application, which enables making purchases both stationary and online – also in stores where PayPo was not previously available. To start using the card, the client generates it in the application, and then adds it to his wallet on the phone (using Apple Pay or Google Pay). Before making a purchase, he activates the limit for the transaction in the selected store, determining the amount he wants to spend. After activating the limit, all you need to do is bring your phone with the virtual card close to the payment terminal for PayPo to pay for your purchases. The debt can be repaid within 30 days or in convenient installments, just like with the previous PayPo services.

What distinguishes the PayPo card?

PayPo’s card is a solution that offers users greater flexibility and freedom in managing their payments. It does not involve any fixed fees – neither for generating the card, nor for its maintenance. The client uses the card when he needs it and pays for the purchases made on the same terms as when making purchases with PayPo so far. The process of its generation is simple and fast, it takes place entirely through the mobile application, without the need to fill out complicated forms. Repayment of the obligation is transparent and convenient, and all operations can be monitored and regulated directly in the application or customer panel.

– From our observations, it appears that the younger generation is increasingly adverse to traditional credit cards, which are perceived as complicated and old-fashioned. Our virtual card is a response to their changing needs. It’s a simple and flexible solution that young people can use at any moment, adapting it to their lifestyle – adds Radosław Nawrocki.

The introduction of the PayPo virtual card is another step towards modern, consumer-friendly solutions that redefine the future of payments.