Buy Now, Pay Later or ‘BNPL’ is a type of finance that allows you to make purchases on credit and pay for them at a future date, often without any interest. Choosing this option means that you can spread out the payment of your purchase over time into equal instalments, typically over 3 months. Some of the BNPL companies that you may have heard of are: Klarna, Clearpay and Laybuy.