Buy now, pay later for software: deposits and instalments on cards
WavePay BNPL takes a deposit at checkout and collects the rest from the customer's card on a schedule, retrying with a back-off until the full price is paid; it is limited to non-prepaid cards, and WavePay collects but does not lend.
Updated · by T3raTech · Free: 25 payments per 30 days, $0; Basic: 250 payments per 30 days for $9/month; Pro: 2,500 payments per 30 days for $29/month
How a plan runs
POST /v2/internal/bnpl with the number of instalments. The customer pays the deposit and their card is saved. Each interval the next instalment is charged; the last one is only what remains. When paid equals the price the plan completes and stops charging.
Collection never gives up
A failed instalment is retried after one day, then two, then every three days, with no limit on attempts, until the total is collected or the merchant cancels the plan.
Which cards
Cards only: provider paynow (Visa, Mastercard, ZimSwitch) or paypal (a vaulted card). Prepaid cards and virtual cards, including mobile-money virtual cards, are refused because they can be emptied or closed after delivery. A card is refused if the issuer reports it prepaid, if its first six digits fall in a range the operator has blocked, or if it cannot be screened at all.
A refused card
The plan is cancelled and access withdrawn. The deposit is refunded automatically where the provider has a refund API (PayPal); for Paynow, which documents none, the plan's audit record is marked needsRefund so the merchant returns it.
Access while overdue
Access is suspended after the grace period of missed payments (14 days by default) and restored by the next successful payment. Instalments settle money; they do not extend the access the deposit granted.
Who carries the risk
The merchant. WavePay is a collection schedule, not a lender: it does not advance the merchant the balance. A card that stops working leaves the instalments unpaid, which is why access follows payment. Confirm that selling on instalments is permitted for your business and customers before you offer it.