Buy Now Pay Later (BNPL) is not a new concept in Switzerland — the classic invoice purchase has been the most popular payment method for decades. What is new is that digital BNPL providers such as Klarna, TWINT Später bezahlen, CembraPay and POWERPAY completely assume the credit check and default risk for Comerciantes. This guide compares the available BNPL models in Switzerland by fees, risk assumption, conversion impact and target group fit.

This guide shows you how the BNPL providers differ in the Swiss market, what they cost and which combination makes the most sense for your shop.

1. What "Buy Now, Pay Later" means in Switzerland — and what variants exist

BNPL refers to any payment method in which buyers receive goods or services immediately and pay the purchase amount only later — typically within 14 to 30 days or in instalments. The BNPL market in Switzerland is growing strongly: a volume of around USD 2.89 billion is expected for 2026.

In Switzerland, there are three basic BNPL models:

Invoice purchase with risk assumption: buyer receives an invoice with 14 or 30 days payment terms. The BNPL provider assumes credit check and default risk. Examples: Klarna (Invoice), CembraPay, POWERPAY, Ideal Payment.

Instalments: purchase amount is split into several partial amounts, typically 3, 6 or 12 instalments. Often interest-free for buyers. Examples: Klarna (Slice it), CembraPay.

Pay later via Wallet: buyer uses an existing wallet app and selects the option "Pay later". Example: TWINT Später bezahlen (operated by Swissbilling).

2. Classic invoice purchase with risk assumption: CembraPay, POWERPAY, Ideal Payment

These providers have been established in Switzerland for years and digitized invoice purchases before the term BNPL existed.

CembraPay (Cembra Money Bank) is one of the largest Swiss BNPL providers. Cembra expanded its BNPL business to 446 million francs in 2023, among other things by acquiring Byjuno. CembraPay offers invoice purchases with and without partial payment, assumes the credit check and guarantees the payment to Comerciantes. The conditions are agreed individually.

POWERPAY (MF Group AG) also offers invoice purchases with a partial payment option. POWERPAY assumes credit check, invoicing and collections. Particularly widespread among Swiss shops in the fashion, lifestyle and furniture sectors.

Ideal Payment is aimed at small and medium-sized enterprises with lower entry barriers. The conditions are individually negotiable, and the integration process is comparatively straightforward.

All three providers are connected to Payrexx as External providers. This means: the contract is concluded directly with the provider, and the payouts are made by the provider.

3. Klarna in Switzerland: Invoice, instalments and instant payment at a glance

Klarna has been active in Switzerland since 2021 and offers three payment modes:

Invoice (Pay in 30): buyer has 30 days to pay. Klarna assumes the default risk.

Instalments (Pay in 3): purchase amount is split into three interest-free instalments, due every 30 days.

Instant payment (Pay Now): direct transfer via Klarna — works like a normal bank payment, but via the Klarna app.

Klarna is available directly via Payrexx Pay Plus — without a separate contract with Klarna. The fees are 2.40 % + EUR 0.30 (Free/Standard) or 1.60 % + EUR 0.20 (Premium). Klarna is available in Switzerland, Germany, Austria, France and Italy — an advantage for shops with an international customer base.

Strengths: international brand awareness, instalments as a conversion driver for large shopping carts, shopper app with a loyal user base.

4. TWINT Später bezahlen: How the Swiss BNPL product works

TWINT Später bezahlen is the Swiss BNPL alternative, operated by Swissbilling. Buyers select TWINT as payment method at the checkout and can then decide whether they want to pay immediately or later (within 30 days).

The big advantage: buyers do not need an additional account or a new app. TWINT is installed on over 5 million smartphones in Switzerland. The credit check runs in the background via Swissbilling.

The fees for Comerciantes are 2.30 % + EUR 0.30 (Free) or 2.30 % + EUR 0.18 (Standard/Premium). TWINT Später bezahlen is available directly via Payrexx Pay and can only be used in Switzerland — no international use is possible.

Strengths: highest reach in Switzerland thanks to TWINT distribution, no additional onboarding for buyers, seamless integration into the TWINT payment flow.

Limitation: no instalment option available — only "Pay now" or "Pay later" (30 days).

5. Fee comparison: What the different BNPL models cost Comerciantes

The following table shows the transaction fees of the BNPL providers available through Payrexx:

Calculation example for a EUR 100 shopping cart (Standard Plan): Klarna costs EUR 2.70 per transaction. TWINT Später bezahlen costs EUR 2.48. QR-bill costs EUR 0.50 — but without risk assumption. The difference of around EUR 2.00–2.20 per transaction is the "insurance premium" against payment defaults.

6. Conversion effect: Which BNPL model works best for which target group

BNPL acts as a conversion lever because customers can decouple the purchase decision from the moment of payment. However, the effect is not the same across all target groups:

Younger customers (18–35 years) prefer Klarna and TWINT Später bezahlen. Klarna has high brand awareness in this group, while TWINT is emotionally anchored as a "Swiss solution". Instalments (Klarna) are particularly attractive for larger purchases.

Older customers (45+) are more accustomed to classic invoice purchases — CembraPay and POWERPAY match the processes they are used to. TWINT Später bezahlen is increasingly gaining acceptance in this group.

Fashion, shoes and lifestyle: highest affinity for BNPL. Return rates of 20–40 % make invoice purchase an expectation, not an option. Klarna with instalments works particularly well here.

Electronics and furniture: high shopping carts (EUR 200–2’000). Instalments become a purchase driver. Klarna Pay in 3 or CembraPay with partial payment.

Groceries and everyday items: small shopping carts (EUR 10–50). BNPL fees eat into the margin. Here, TWINT Später bezahlen (lower fixed fee in the Standard Plan) or QR-bill are more economical.

7. Combine instead of choose: Why many shops offer several BNPL options in parallel

The question is not "Klarna or TWINT Später bezahlen?", but "Which combination covers my target group optimally?". Many Swiss shops already offer several options in parallel.

A common combination for Swiss shops: TWINT Später bezahlen for Swiss customers who prefer their TWINT app, plus Klarna for international customers and for customers who want instalments. Additionally, the QR-bill for B2B customers and regular customers where the default risk is low.

The rule remains: each BNPL method should only be active via one provider. Operating Klarna in parallel via Payrexx Pay Plus and as an external provider does not make sense. The customers choose their preferred option in the checkout — you as the Comerciante configure the offering.

Checklist: Choosing the right BNPL solution for your Swiss online shop

• Analyse your target group: age, Switzerland vs. international, average shopping cart.

• Check if instalments are relevant for your shopping carts — from EUR 100 onwards they become a conversion factor.

• Compare the fees with your actual default rate: BNPL pays off if the fees are lower than your losses.

• Decide whether you need TWINT Später bezahlen (CH-only) and/or Klarna (CH + EU).

• Clarify the integration: directly via your PSP or as an external provider?

• Test the checkout experience: are the BNPL options clearly presented, and is the decision-making process easy for customers?

• Monitor conversion rates after activation: measure the effect on abandoned shopping carts and revenue.