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Thinkific launches BNPL feature with Stripe to boost sales

By Delisha Fernandes

August 03, 2023

  • Afterpay
  • BNPL
  • Fintech news
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stripeThinkific, a platform for creating, marketing, and selling online learning products, has launched Buy Now, Pay Later (BNPL) functionality via providers Affirm, Klarna, and Afterpay.

The move is part of its growing suite of integrated business management and payments solutions, which includes Thinkific Payments.

Powered by the global financial infrastructure platform Stripe, the latest functionality enables the platform to offer credit at checkout options, thereby increasing the accessibility of their products to wider audiences and driving increased sales.

“Our goal at Thinkific has always been to empower our Creators to build and scale their own remarkable and successful online businesses,” said Greg Smith, CEO of Thinkific. “Adding Buy Now, Pay Later options to Thinkific Payments provides another compelling tool for our Creators, allowing them to attract more students, increase sales, and provide flexible payment solutions that align with their audience’s needs.”

With Affirm, Klarna, and Afterpay, students can pay for education over time, while creators receive immediate payment. This allows creators to reinvest their sales revenues into marketing efforts, fueling their growth and expanding their reach.

Thinkific’s integration of BNPL functionality also increased average order values, contributing to creator’s overall revenue growth. As part of its ongoing beta testing of BNPL, the company continues to find that the average transaction size is larger using BNPL features than without, meaning Thinkific creators see larger student purchases when the flexible payment option is enabled.

“Stripe’s work with Thinkific to offer a BNPL feature means Thinkific Creators can unlock new growth opportunities and expand accessibility to their educational products,” said Sophie Sakellariadis, Product Lead for Payment Methods at Stripe. “We believe our collaboration will help Creators scale their audiences even more and supercharge sales, ultimately driving success throughout the online learning industry.”

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