3 BNPL platforms providing financial freedom to consumers in Africa
By Delisha Fernandes
Buy Now Pay Later is revolutionising how customers make online and in-store purchases by making payments more flexible and convenient for shoppers. As the African continent embraces technological advancements, BNPL platforms pave the way for financial inclusivity and empowerment.
These platforms are not just facilitating transactions but unlocking opportunities for individuals to access goods and services without the traditional constraints of upfront payments. From bustling urban centres to remote rural areas, these BNPL solutions are bridging the gap, allowing consumers to make purchases and manage their finances in a way that aligns with the dynamic lifestyles of Africa.
Here are 3 BNPL platforms providing financial freedom to consumers in Africa:
Credpal is an innovative solution that allows businesses and individuals to buy anything and pay for it in installments across online and offline merchants by giving them access to credit at the point of checkout. It provides a platform that offers transparency in services, facilitating users to set up their accounts, choose their payment plan to minimize risk and connect to multiple financial institutions that provide credit for customers.
Float offers shoppers a smarter way to pay with their credit card – by splitting big purchases in up to 24 bite-size, interest-free monthly payments. Float’s instalment offering is fully customisable, giving merchants more control and flexibility. By giving their shoppers the most flexible, frictionless and financially responsible way to shop, merchants are partnering with Float to build a new economy – where buying BIG means paying small.
Payflex offers shoppers the simplest, easiest way to buy now and pay later at 0% interest. The company realised that South Africans needed a new way to pay — a payment solution (a revolution) that enables online shoppers to spread their payments over 6-weeks at no additional cost (no interest and no fees). In just a few years, they changed how people pay, with scores of shoppers enjoying interest-free shopping at thousands of Payflex stores, both online and in-store.
IBSi Daily News Analysis
February 28, 2024
FinTech penetration in Southeast Asia will double by 2027, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage