Canada-based end-to-end platform for online learning products Thinkific has launched Buy Now, Pay Later (BNPL) functionality via providers Affirm, Klarna, and Afterpay. Supported by global financial infrastructure platform Stripe, this functionality enables Thinkific Creators to offer credit at checkout options, thereby increasing accessibility of their products to wider audiences and driving increased sales.

BNPL to drive growth and increase sales Thinkific’s goal has always been to enable their Creators to build and scale their own successful online businesses, said company officials. The addition of Buy Now, Pay Later options to Thinkific Payments provides another compelling tool for their Creators, allowing them to attract more students, increase sales, and provide flexible payment solutions that fit their audience's needs. With Affirm, Klarna, and Afterpay, students have the flexibility to pay for education over time, while Creators receive immediate payment.

This allows Creators to reinvest their sales revenues into marketing efforts, fuelling their growth and expanding their reach. Thinkific Creators have seen increased sales conversions and revenue by offering a form of credit that lowers the purchase barriers for students. According to Stripe data, businesses that accept BNPL services on their platform have seen an average 25% incremental uplift in sales volume.

An increase in average order value Thinkific's integration of BNPL functionality was also shown to increase 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 with the use of BNPL features than without, meaning Thinkific Creators see larger purchases from students when the flexible payment option is enabled. Stripe’s representatives said that their work with Thinkific to offer a BNPL feature means Thinkific Creators can unlock new opportunities for growth and expand accessibility to their educational products.

They believe their collaboration will help Creators scale their audiences even more and supercharge sales, driving success throughout the online learning industry. What does Thinkific do? Thinkific makes it simple for Creator Educators and established businesses of any size to scale and generate revenue by teaching what they know. Their platform gives businesses everything they need to build, market, and sell digital learning products - from courses to communities - and to run their business seamlessly under their own brand, on their own site.

Thinkific's 50,000+ active creators earn from direct course, membership, and community sales while teaching students. .