Peach Payments, a leading provider of online payment solutions, has partnered with Float, a credit card-linked installment platform, to bring more flexible and interest-free payment options to online shoppers in South Africa.
Peach Payments , a leading provider of online commerce and digital payment acceptance solutions in Kenya, Mauritius, and South Africa , has announced a partnership with Float , a credit card-linked installment platform. This collaboration allows Peach's online merchants to seamlessly integrate Float at the checkout process, expanding the accessibility of interest-free monthly installments to a wider consumer base across South Africa .
Unlike conventional buy-now-pay-later (BNPL) credit options, Float does not extend new credit to shoppers. Instead, it empowers customers to pay for their purchases using their existing credit cards, conveniently splitting the total amount over several months with no additional interest charges or fees. This flexible payment model provides consumers with more time to manage their credit card obligations effectively and responsibly.Float claims that merchants utilizing its service experience an average 134% increase in basket size, higher conversion rates, and access to a segment of premium customers with pre-approved credit card facilities. The platform emphasizes its user-friendly nature, boasting a streamlined setup process without any registration, signup, or credit checks. Merchants can tailor Float to their specific needs by configuring settlement models, installment terms offered to shoppers, and preferred payment channels, including online, in-store, or via payment links. Alex Forsyth-Thompson, CEO of Float, highlights the significance of this partnership, stating that it enables thousands of merchants to enhance sales with flexible, card-linked installment solutions that empower shoppers with responsible payment options. Anine de Kock, Head of Partnerships at Peach Payments, echoes the sentiment, emphasizing the growing popularity of BNPL options and their ability to significantly boost conversion rates for merchants. She underscores Peach Payments' commitment to providing a diverse range of BNPL payment options, empowering customers to fully leverage the benefits offered by participating merchants
Peach Payments Float BNPL Interest-Free Installments Credit Card Payments Online Shopping South Africa
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