Float, an Africas credit card-linked instalment platform, is partnering with online payment solution provider Peach Payments.
Now Peach Payments merchants can instantly integrate Float at checkout, broadening the reach of interest-free monthly instalments to more consumers across South Africa.
Unlike regular buy-now, pay-later (BNPL) credit options, Float does not issue shoppers with new credit. Instead, Float offers shoppers a smarter way to pay with their credit card by splitting their purchases over multiple months interest free with no additional fees, giving them more time to settle their credit card on time.
Merchants offering Float experience a 134% average increase in basket size, higher conversions as well as access to premium customers with pre-approved credit card facilities.
Alex Forsyth-Thompson, CEO of Float, says: “Partnering with Peach Payments marks yet another key milestone for Float, enabling thousands of merchants to boost sales with flexible, card-linked instalment solutions that empower shoppers with responsible payment options.”
Anine de Kock, head of partnerships at Peach Payments, adds: “Peach Payments has seen a rise in popularity of BNPL options, particularly how significantly these options increase conversion rates for merchants. Peach Payments adds value to merchants in many ways. One of these is offering a range of BNPL payment options so customers can take advantage of merchant offerings.”
Established more than a decade ago, Peach Payments offers payment by card, bank, BNPL, QR code, and digital wallets at checkout, as well as various pay-out solutions for companies. The system features enterprise-grade security, helping both consumers and merchants stay safe while transacting.
De Kock adds: “Peach Payments allows merchants to focus on what they do best while we take care of their payment needs.”