5 buy now, pay later services to make the most of in South Africa in 2024

1. PayJustNow

With flexible payment options and no hidden fees, PayJustNow is a popular buy now, pay later service in South Africa. It allows shoppers to split purchases into three interest-free payments, making it easier to manage any budget.

It recently inked a deal with local retail e-commerce platform Superbalist while data shows it is one of South Africa’s leading BNPL providers. Interestingly, users of its platform have been noted to shop for a range of big-ticket items including appliances, furniture and fashion, branded or boutique fashion apparel, and specialised homeware.

2. Mobicred

Mobicred offers a convenient way to shop online with a revolving credit facility. It can be use to make purchases at various online stores and pay back in monthly installments. It announced a singature deal earlier this year when it said it was linking up with Zando, the South African online fashion e-commerce platform.

A key driver for the deal was the ability to enhance the online shopping experience by introducing a seamless digital credit checkout option for Zando’s customers.With competitive interest rates and easy application process, Mobicred is a great option for those looking for flexibility in their payments.

3. Payflex

Payflex is another popular buy now, pay later service in South Africa that allows shoppers split purchases into interest-free payments. A 2023 survey showed that 39% of BNPL users indicated having used Payflex, the highest of any BNPL platform in the country.

Founded in 2018, Payflex was the first BNPL provider to launch in South Africa. In July, it introduced “Pay in 3” to go along with its two other distinct payment options, Pay Now” and “Pay in 4”. With no hidden fees and instant approval, Payflex is a convenient option for those looking to spread out their payments without incurring additional costs.

4. TymeBank

TymeBank is a South African digital bank that offers a fully digital banking experience with a focus on affordability and accessibility. In addition to its core banking services, TymeBank has introduced a Buy Now, Pay Later (BNPL) offering called MoreTyme. This service allows customers to make purchases and pay them off in three interest-free installments over 60 days.

MoreTyme is integrated into TymeBank’s digital platform, making it easy for users to access and manage their BNPL payments seamlessly, catering to customers seeking flexible payment options.

5. Float

Float is a South African buy and pay later startup that is fast making its presence felt. Earlier this year, it raised $11 million from Standard Bank to support the rollout of its card-linked instalment platform. The deal came less than a year after partnering with Samsung to offer South African consumers flexible and responsible online shopping options.

Founded by Alex Forsyth Thompson in November 2021 to promote responsible credit card usage, Float enables shoppers to buy now and split their payments over up to 24 interest-free, monthly instalments using the available limit on their existing Visa or Mastercard credit card.