Online shopping credit options broaden

A new partnership between Peach Payments, an online payment solution provider, and Float, an African credit card-linked instalment platform, integrates Float at checkout. This broadens the reach of interest-free monthly instalments to more consumers across South Africa.

The collaboration enhances the online shopping experience with an innovative and secure payment solution for consumers and merchants.

Unlike regular buy-now, pay-later (BNPL) credit options, Float does not issue shoppers with new credit. Instead, Float offers shoppers a smarter way to pay with their credit card by splitting their purchases over multiple months interest free with no additional fees, giving them more time to settle their credit card on time.

Merchants offering Float experience a 134% average increase in basket size, higher conversions, and access to premium customers 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.

_{Alex Forsyth-Thompson, CEO of Float.}

Anine de Kock, head of partnerships of Peach Payments, says: “Peach Payments has seen a rise in popularity of BNPL options, particularly how significantly these options increase conversion rates for merchants. Peach Payments adds value to merchants in many ways. One of these is offering a range of BNPL payment options so customers can take full advantage of merchant offerings.”

Established more than a decade ago, Peach Payments offers payment by card, bank, BNPL, QR code, and digital wallets at checkout, and various pay-out solutions for companies. The system features enterprise-grade security, helping both consumers and merchants stay safe while transacting.

De Kock says: “Peach Payments allows merchants to focus on what they do best while we take care of their payment needs.”

Peach Payments, known for pioneering paytech firsts, was recognised by CB Insights as one of the 100 Most Innovative Fintech Startups of 2024. Float won SA Fintech Startup of the Year at the SCZA awards 2024.