South Africans can now shop online and pay later, interest-free over six weeks.

Payflex has brought the buy now pay later shopping model to South Africa following its popularity in Australia, the US and Europe. Payflex customers can shop at a digital mall which includes over 500 well-known stores like Cotton-on, Superbalist and The Pro Shop. Payments are split over four interest-free instalments.

“Traditionally paying via instalments in South Africa has been associated with high interest charges, as you are penalised for paying for the item over time,” says Paul Berhmann, CEO and founder of Payflex. “But by using Payflex, every purchase you make is interest free. You’ll know exactly when each of the four interest-free payments are due and there are no hidden costs. It puts you in control of your finances.

The process is simple – select Payflex as your payment method at checkout, provide your ID number and you’ll be assessed in seconds. Fees only become due if you miss a scheduled payment, but you’ll receive email reminders in advance of each payment to help you budget and make all your payments on time. Payflex accepts any Visa or Mastercard cards (debit, credit or cheque).

How it works: You want to buy a watch for R1 000. You will pay R250 upfront (only 25% of the price) and the watch will be shipped to you immediately. You then pay an additional three R250 payments every two weeks for six weeks until the payment is complete.

Behrmann says that it is important for South Africans to budget and ensure they’ve prioritised their purchases. “The hassle-free Payflex option allows you to see exactly how and when you will make your payments. Provided you make your scheduled payments on time, you won’t be paying one cent extra in interest or fees for your purchase,” he says.