Buy now pay later: the 5 best BNPL apps and deals in the UK - including Klarna, Clearpay, and Zilch

Buy Now Pay Later (BNPL) services have become an increasingly popular way for UK shoppers to spread the cost of their purchases.

Whether you're looking to manage cash flow or simply delay payments, BNPL can be a useful tool – but are these schemes really good for your wallet?

BNPL schemes can be a convenient way to spread the cost of purchases, but they come with risks.

If you can commit to making on-time payments and avoid impulse spending, BNPL can work in your favour. But if you're prone to overspending or struggle to keep track of repayments, these services could lead to financial trouble.

But just which BNPL apps are services rank among the best available in the UK, and do they really help with budgeting, or pose financial risks? Here is everything you need to know.

Klarna

Klarna is one of the most well-known BNPL services, and is is widely accepted across major UK retailers, making it a flexible choice for shoppers. It offers three main payment options:

• Pay in 3: Split the cost into three equal payments with no interest.
• Pay Later in 30 Days: Receive your item first and pay later, interest-free.
• Financing: Spread payments over 6–36 months, but be aware of potential interest rates.

Clearpay

Clearpay allows customers to split their payments into four interest-free instalments over six weeks. Be aware that late payments incur fees, so it’s important to stay on top of your schedule.

Popular with fashion and beauty brands, Clearpay integrates well with online stores like ASOS, JD Sports, and Boohoo.

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Zilch

Zilch is a relatively new BNPL provider with a unique approach. Users get the option to either pay in four instalments over six weeks (interest-free) or pay now and earn rewards, offering cashback-like benefits.

Zilch works both online and in-store, making it a more flexible choice for shoppers.

Monzo Flex

Monzo Flex allows users to spread payments over three, six, or 12 months. The three-month option is interest-free, while longer terms may include interest charges.

Monzo Flex is a good alternative for those looking for more structured repayment plans with a regulated UK bank.

Tymit

Tymit offers a credit card-style BNPL service, allowing users to split purchases into up to 36 monthly instalments. The shorter terms (up to three months) are interest-free, while longer repayment periods may include interest.

Tymit provides more control over repayments, making it a useful alternative to traditional credit cards.

Are buy now pay later schemes good for your wallet?

The benefits of BNPL services

BNPL can be an excellent tool for managing money if used responsibly. Here’s how:

• Helps with budgeting: Splitting payments can make expensive purchases more manageable without incurring interest.
• No interest (in most cases): Unlike credit cards, many BNPL services don’t charge interest if payments are made on time.
• Quick and easy approval: Unlike traditional credit checks, BNPL services often approve customers instantly with a soft credit check.

The potential downsides of BNPL

But while BNPL can be helpful, there are some risks to be aware of:

• Late fees: Missing a payment can result in hefty late fees, making your purchase more expensive.
• Encourages overspending: BNPL makes it easy to buy things you can’t afford upfront, leading to debt accumulation.
• Credit impact: Some services report to credit agencies, meaning missed payments could affect your credit score.
• High-interest financing: Some BNPL providers, like Klarna’s long-term financing option, charge interest rates similar to credit cards.

BNPL is a great option for those who are disciplined with their payments, need short-term flexibility without taking on credit card debt, or want to take advantage of interest-free instalments for expensive purchases.

But if you struggle with budgeting or are already in debt, BNPL can make financial problems worse. Always read the terms and conditions carefully and avoid using BNPL for non-essential purchases.

We’d love to hear about your experiences with Buy Now Pay Later services! Have you used any of these schemes, and if so, what has your experience been like? Are there any tips or warnings you'd share with fellow readers? Drop a comment!