In a game-changing move for South Africa’s fintech and e-commerce sectors, Float, the country’s first credit card-linked instalment platform, has announced a strategic partnership with Peach Payments, a leading online payment solutions provider. This collaboration allows thousands of Peach Payments merchants to integrate Float at checkout, offering consumers a seamless, interest-free instalment option that transforms the online shopping experience.
A Smarter Way to Pay: Float’s Unique Model
Unlike traditional Buy Now, Pay Later (BNPL) options, which often require new lines of credit, Float leverages existing credit cards to split payments over multiple months—interest-free and with no additional fees. This allows shoppers to manage their expenses responsibly while ensuring they can settle their credit card payments on time.
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For merchants, the benefits are equally compelling. Retailers who offer Float see an average basket size increase of 134%, higher conversion rates, and access to a premium customer base with pre-approved credit card facilities.
“Partnering with Peach Payments marks yet another key milestone for Float, enabling thousands of merchants to boost sales with flexible, card-linked instalment solutions that empower shoppers with responsible payment options,” says Alex Forsyth-Thompson, CEO of Float.
Peach Payments: Powering Digital Commerce with Seamless BNPL Integration
With over a decade of experience, Peach Payments has solidified its position as a leader in online payment solutions. The company offers a comprehensive suite of payment methods, including card payments, bank transfers, BNPL, QR codes, and digital wallets, alongside pay-out solutions for businesses.
“We’ve seen a rising demand for BNPL solutions, particularly in how they drive conversion rates for merchants. By integrating Float, we continue to add value to our merchants by expanding their payment options and helping them attract more customers,” explains Anine de Kock, Head of Partnerships at Peach Payments.
Security remains a priority for both partners. Peach Payments provides enterprise-grade security to protect both merchants and consumers from fraud, ensuring safe and seamless transactions.
Fintech Innovation in South Africa: A Growing Ecosystem
South Africa’s fintech sector continues to thrive, with Float and Peach Payments leading the charge in payment innovation. Their partnership underscores a growing trend: the shift towards digital-first, customer-centric financial solutions.
Peach Payments has consistently been at the forefront of fintech advancement, earning recognition from CB Insights as one of the 100 Most Innovative Fintech Startups of 2024. Similarly, Float’s disruptive approach to BNPL was recognized when it won SA Fintech Startup of the Year at the SCZA Awards 2024.
What This Means for South African Consumers and Businesses
As e-commerce penetration grows in South Africa, payment flexibility is becoming a crucial driver of consumer spending. The integration of Float into Peach Payments’ network is expected to:
- Improve consumer affordability by offering manageable, interest-free instalments.
- Boost merchant revenues by increasing basket sizes and conversion rates.
- Enhance security and trust in the online shopping experience.
By staying ahead of global fintech trends, Float and Peach Payments are setting new standards for South Africa’s digital economy. This partnership isn’t just about payments—it’s about empowering consumers and businesses to transact smarter, safer, and more efficiently.
