On Tuesday, Float, a pioneering credit card-linked instalment platform in Africa, announced a strategic partnership with Peach Payments, a prominent online payment solutions provider.
This collaboration aims to enhance the payment options available to consumers and merchants across South Africa. By integrating Float’s innovative payment solutions into Peach Payments’ checkout process, the partnership is set to transform the shopping experience for many.
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Float’s new era of payment flexibility
Float distinguishes itself from traditional Buy Now, Pay Later (BNPL) schemes by not issuing new credit. Instead, it allows consumers to utilise their existing credit cards to split purchases into interest-free monthly installments. This approach helps shoppers manage their finances better and eliminates additional costs associated with conventional credit options.
Alex Forsyth-Thompson, CEO of Float, emphasised the significance of this partnership: “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 installments options that provide shoppers with responsible payment choices.”
Peach Payments has been a key player in online payment for over a decade, providing various payment methods such as card payments, bank transfers, and digital wallets.
Anine de Kock, Head of Partnerships at Peach Payments, noted the growing demand for BNPL options and how they effectively boost merchant conversion rates, stating, “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.”
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Float integration a win for Peach payments merchants
The integration of Float into Peach Payments’ system offers numerous advantages. Merchants can expect an average increase of 134 per cent in basket size and improved conversion rates as they attract more customers through flexible payment options.
Additionally, consumers benefit from a seamless shopping experience that allows them to manage their payments responsibly without incurring late fees or undergoing credit checks.
Peach Payments ensures enterprise-grade security measures are in place to protect merchants and consumers during transactions.
This commitment to safety fosters trust in the online shopping environment, making it easier for customers to engage with e-commerce platforms confidently.