Buy Now Pay Later (BNPL) is not a new concept in Switzerland — the classic purchase on invoice has been the most popular payment method for decades. What is new is that digital BNPL providers like 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 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

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

There are three basic BNPL models in Switzerland:

Purchase on invoice with risk assumption: The buyer receives an invoice with a 14 or 30-day payment term. The BNPL provider assumes the credit check and default risk. Examples: Klarna (Invoice), CembraPay, POWERPAY, Ideal Payment.

Installment payment: The purchase amount is divided into several partial amounts, typically 3, 6, or 12 installments. Often interest-free for buyers. Examples: Klarna (Installment purchase), CembraPay.

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

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

These providers have been established in Switzerland for years and digitized purchase on invoice 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, partly through the acquisition of Byjuno. CembraPay offers purchase on invoice with and without partial payment, assumes the credit check, and guarantees payment to Comerciantes. The conditions are agreed individually.

POWERPAY (MF Group AG) also offers purchase on invoice with a partial payment option. POWERPAY assumes credit checks, invoicing, and debt collection. Particularly widespread among Swiss shops in the fashion, lifestyle, and furniture segments.

Ideal Payment targets small and medium-sized enterprises with lower entry barriers. The conditions can be agreed individually, and the integration process is comparatively uncomplicated.

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

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

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

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

Installment payment (Pay in 3): The purchase amount is split into three interest-free installments, 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 directly available 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, installment payment as a conversion driver for large shopping carts, buyer 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 their payment method at 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 via Swissbilling in the background.

The fees for Comerciantes are 2.30 % + EUR 0.30 (Free) or 2.30 % + EUR 0.18 (Standard/Premium). TWINT Später bezahlen is directly available 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 installment payment 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 via 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 invoice costs EUR 0.50 — however, without risk assumption. The difference of around EUR 2.00–2.20 per transaction is the "insurance premium" against default payments.

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

Buy Now Pay Later 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:

Yonger 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". Installment payment (Klarna) is particularly attractive for larger purchases.

Older customers (45+) are more accustomed to classic purchase on invoice — CembraPay and POWERPAY meet the familiar process. TWINT Später bezahlen is increasingly gaining acceptance in this group.

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

Electronics and furniture: High shopping carts (EUR 200–2,000). Installment payment becomes the purchase decision-maker. Klarna Pay in 3 or CembraPay with partial payment.

Groceries and everyday products: Small shopping carts (EUR 10–50). BNPL fees eat up the margin. Here, TWINT Später bezahlen (lower fixed fee in the Standard Plan) or the QR invoice is more economical.

7. Combining instead of choosing: 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 installment payments. Additionally, the QR invoice for B2B customers and regular customers where the risk of default is low.

The following applies: each BNPL method should only be active via one provider. Operating Klarna in parallel via Payrexx Pay Plus and as an external provider makes no sense. The customers select their preferred option in the checkout — you as the Comerciante configure the offer.

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

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

• Check whether installment payment is relevant for your shopping carts — from EUR 100 it becomes a conversion factor.

• Compare the fees with your actual default rate: BNPL is worth it 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 process easy for customers?

• Observe conversion rates after activation: measure the effect on shopping cart abandonments and sales.