Why BNPL matters for Swiss SMEs
Buy Now Pay Later (BNPL) allows customers to pay for a purchase in instalments without interest (or on transparent terms), while the merchant receives payment — in full or in part — from the payment provider. In Switzerland, solutions such as those offered by Twint (Später bezahlen), Klarna, CembraPay/Swissbilling, HeidiPay or banking partners are spreading mainly in B2C e-commerce, but also in B2B to defer invoices of moderate amounts or to offer competitive payment terms without managing trade credit internally.
For an SME, adopting BNPL means delegating part of the insolvency risk and credit onboarding to a third party, often in exchange for fees that can range from 2% to 6% (or more) of the transaction value. The choice is not purely commercial: it affects revenue recognition, liquidity, VAT, receivables management and year-end reporting under Swiss accounting rules (Swiss Code of Obligations and Swiss GAAP FER).
This guide examines B2B and B2C models, real costs, correct accounting treatment and practices to limit defaults and misalignments between the payment platform and the books — with an eye to integration in accounting software such as Accountex.
BNPL B2C vs B2B: models and stakeholders
Not all BNPL works the same way. The distinction between end consumers and business customers determines contracts, risk and accounting treatment.
BNPL B2C — checkout and e-commerce
The end customer selects BNPL at checkout. The provider performs a credit assessment (soft or hard check) in a few seconds and, if approved, pays the merchant immediately the net amount after fees. The debt owed by the consumer remains between the customer and the provider.
Typical models: payment in 3–4 interest-free instalments, deferral to 30/60 days (Pay Later), or interest-bearing financing for higher amounts. Consumer insolvency risk is generally transferred to the provider, except under chargeback or dispute clauses.
BNPL B2B — invoices and trade credit
In B2B, BNPL is closer to factoring or invoice financing: the supplier issues an invoice, the business customer obtains deferral (30, 60, 90 days or instalments), and a financial institution or fintech advances or guarantees collection. Some solutions integrate with ERP platforms or order portals.
Unlike B2C, the business customer's creditworthiness is often assessed more rigorously (commercial register, financial statements, limits per company). Risk may remain with the merchant under partial guarantee, or be assumed by the financier on negotiated terms.
Comparative table: BNPL B2C and B2B
Summary of the main operational and accounting aspects to consider before activating a BNPL solution:
| Criterion | BNPL B2C | BNPL B2B |
|---|---|---|
| Activation point | Online checkout or POS | Invoice issuance or order confirmation |
| Credit assessment | Automatic, real-time | Company analysis, limits and credit lines |
| Typical fees | 2–6% + fixed fee per transaction | 0.5–3% or monthly fees on credit line |
| Default risk | Generally borne by the provider | Often shared or with seller guarantee |
| Reference document | Order confirmation / payment receipt | Invoice with payment terms |
| Swiss VAT | At time of supply/service (Art. 39–40 VAT Act) | At time of supply/service (with agreed consideration reported at invoice issuance, Art. 40 para. 1 VAT Act) |
| Receivables account | Receivable from provider, not from consumer | Receivable from financier or customer (depending on model) |
| Reversal / cancellation | Returns and chargebacks within contractual deadlines | Credit notes and reallocation of financing |
Fees and real costs to budget for
BNPL fees are not a simple transaction cost: they must be analysed for their impact on gross margin. A merchant with a 25% margin paying 4% to the BNPL provider gives up roughly one sixth of the margin on every financed sale. Adding fixed fees (e.g. CHF 0.30 per transaction), technical integration costs and any chargeback penalties allows you to calculate the break-even point against other payment methods.
In B2B, fee structures may include an annual rate on advanced capital, management fees per invoice or a monthly fee for access to the credit line. Always compare the effective annual cost (equivalent APR) with that of a cash discount (e.g. 2% for payment within 10 days) or internal trade credit management.
Costs often underestimated
- •Chargebacks and partial reversals: the provider may charge penalties or withhold amounts from future settlements.
- •Settlement delays: payment may occur T+2 or T+7, affecting liquidity and bank covenants.
- •Accounting costs: manual reconciliation if there is no integration with ERP software.
- •Residual losses: in B2B models with seller guarantee, defaults beyond the financier's coverage revert to the SME.
Accounting under Swiss rules
Regardless of the provider, the SME must comply with the accrual and prudence principles set out in Art. 957 et seq. CO and, where applicable, Swiss GAAP FER. Here are the most common accounting patterns.
B2C sale with BNPL — provider assumes risk
When the goods are delivered or the service is rendered, the SME records revenue gross of VAT and opens a receivable from the BNPL provider (not from the end consumer). On net settlement after fees, the difference between the invoiced amount and the amount credited is recorded as a payment fee expense (expense account, e.g. 6600 or similar in the chart of accounts).
Example: sale CHF 1'000 + VAT 8.1% = CHF 1'081. Provider credit CHF 1'041 (4% fee on net). Entries: Debit Receivables from provider CHF 1'081 / Credit Revenue CHF 1'000 + VAT payable CHF 81; then Debit Bank CHF 1'041 + Debit Fees CHF 40 / Credit Receivables CHF 1'081.
B2B sale with financier advance
If the financier advances the invoice amount, a receivable from the customer is recorded when the invoice is issued. On advance, the receivable may be assigned or discounted: Debit Bank / Credit Receivables (with any interest or fee expense recorded). If the model includes a payment guarantee by the seller, maintain a transit account or liability for recourse obligations until the financing matures.
In the case of receivables assignment without recourse (true sale), the receivable leaves the balance sheet and any discount on assignment is a financial expense. With recourse, this is secured financing: the receivable remains on the balance sheet until extinguished.
Defaults, credit risk and provisions
In B2C BNPL with full risk transfer, consumer defaults do not directly affect the SME's income statement — except under chargeback clauses for fraud, customer dispute or documented non-delivery. It is essential to read the provider contract to identify situations where risk reverts to the merchant.
In B2B or models with partial guarantee, apply the prudence principle: assess whether receivable write-downs are required under Art. 960 CO and FER 2 (valuation at net realisable value). A receivable from a customer in bankruptcy proceedings must be written down; if you have already collected from the financier's advance, you may need to repay the advanced amount.
Monitor monthly the ageing of assigned or guaranteed receivables, the chargeback rate and provider withholdings. An increase in penalties is often the first sign of misalignment between commercial policies (generous returns, late deliveries) and BNPL contract terms.
| Scenario | Who bears the loss | Accounting entry |
|---|---|---|
| Consumer does not pay (standard B2C) | BNPL provider | No adjustment for the SME |
| Chargeback due to dispute | Merchant (debited on settlement) | Revenue reversal or receivables adjustment + possible VAT credit note |
| B2B customer fails after advance | Financier with recourse against seller | Liability to financier + write-down of residual receivable |
| Goods returned after BNPL settlement | Merchant refunds provider / reverses | Credit note, VAT adjustment, fee reversal if applicable |
VAT and tax aspects in Switzerland
Adopting BNPL does not change the merchant's VAT obligation towards the Federal Tax Administration (FTA). Tax is due on the consideration for the supply when the taxable event occurs (generally on delivery or performance), regardless of how the end customer pays. The invoice or receipt must correctly show the VAT amount and payment method; BNPL is only an indirect collection method.
Fees paid to the BNPL provider may fall within services excluded from tax in the monetary and capital market sector (Art. 21 para. 2 no. 19 VAT Act), for example if the service consists of granting or brokering credit or payment operations. Always check the provider's invoice: technical or platform services may be taxable; if it includes VAT on taxable services, you may deduct it as input tax if entitled. For cross-border B2B operations (foreign customer, delivery abroad), assess place of supply and reporting obligations separately.
For corporate income tax purposes, BNPL fees are deductible as operating expenses. Any losses on receivables guaranteed by the seller are deductible if proven and valued according to recognised accounting principles.
Accounting integration with Accountex
Orderly integration between the BNPL platform and accounting avoids reconciliation errors at month-end and simplifies year-end closing. Here are best practices for SMEs using Accountex or equivalent software.
Recommended data flow
- 1.Automatic import or API of daily provider settlements (gross, fees, net).
- 2.Matching of each BNPL transaction to the sales document (order number or invoice).
- 3.Deferred recording of fees to a dedicated expense account for margin analysis.
- 4.Bank reconciliation of the settlement account with bank statement and provider report.
Useful accounts and categories
- •102x — Receivables from payment provider (BNPL sub-account)
- •660x — Payment fees and charges
- •694x — Credit losses and chargebacks (if borne by the company)
- •Cost centre by channel (webshop, store, B2B) to measure BNPL ROI
Configure import rules in Accountex that automatically separate net amount and fees, so the receivables balance from the provider clears at each settlement cycle. For B2B, link issued invoices to the financier via the assignment reference number, making recourse monitoring easier.
Operational checklist for SMEs
Before activating or renewing a BNPL contract, check these points with your accountant or finance manager:
Contract review: who bears defaults, chargebacks and fraud? Which documents must you retain to defend against a debit?
Net margin calculation: simulate the impact of fees on margin by product category and compare with credit cards or bank transfer.
Chart of accounts: create dedicated sub-accounts for BNPL receivables, fees and credit losses before go-live.
Returns and reversal process: align e-commerce return policy with provider terms to avoid preventable chargebacks.
Monthly reconciliation: verify that provider settlements, recorded sales and bank movements match; investigate discrepancies immediately.
Annual review: reassess the provider based on volumes, chargeback rate and actual costs; renegotiate rates if volumes have grown.
Conclusion: BNPL as a commercial lever, not just a technical one
Buy Now Pay Later can increase conversion and average order value, especially in B2C, and offer payment flexibility in B2B without burdening credit administration. However, fees erode margin and models with seller guarantee reintroduce insolvency risk in another form.
Rigorous accounting — revenue at time of performance, fees as operating expenses, receivables from the provider correctly reconciled — ensures a faithful balance sheet and simplifies dialogue with banks, investors and tax authorities. By integrating the BNPL flow in Accountex from activation, the SME turns a payment innovation into a controlled, measurable process compliant with Swiss regulations.