Float, Africa’s credit card-linked installment platform, has announced a strategic collaboration with Peach Payments.
Established over a decade ago, Peach Payments offers a range of payment methods, including card, bank transfer, BNPL, QR codes, and digital wallets, all backed by enterprise-grade security for secure transactions for both consumers and merchants.
This partnership will enable Float to be easily integrated into the checkout process for thousands of Peach Payments retailers throughout South Africa. Through this cooperation, Float’s interest-free monthly installment plan is made available to a wider spectrum of customers, offering them a more convenient and intelligent payment alternative.
Alex Forsyth-Thompson, CEO of Float, said, “Partnering with Peach Payments represents a significant milestone for Float. This collaboration enables thousands of merchants to enhance their sales by offering flexible, card-linked installment options that provide shoppers with responsible payment choices.”
In contrast to conventional buy-now, pay-later (BNPL) alternatives, Float does not give customers additional credit. Rather, it enables users to use their current credit cards to divide their purchases into interest-free payments without incurring any extra costs. This gives customers more time to appropriately manage their finances and pay off their credit card debt. Offering Float gives businesses access to premium clients with pre-approved credit facilities, an average 134% increase in basket size, and greater conversion rates.
Anine de Kock, Head of Partnerships at Peach Payments, also shared, “We’ve seen a significant rise in the demand for BNPL options, and these solutions are proving to be highly effective in boosting conversion rates for merchants. By offering a variety of BNPL options, Peach Payments ensures that customers can fully capitalize on what merchants have to offer.”
“At Peach Payments, we take care of our merchants’ payment needs, allowing them to focus on what they do best.”
