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Float, Peach team up to enhance payments in SA

By , Intern portals journalist
Africa , 04 Feb 2025
Alex Forsyth-Thompson, CEO of Float.
Alex Forsyth-Thompson, CEO of Float.

Float, Africa's credit card-linked instalment platform, announced yesterday a partnership with Peach Payments, an online payment solution provider, to offer integrated checkout for online purchases.

According to the parties, the new agreement enables thousands of Peach Payments merchants to automatically integrate Float at checkout, expanding the reach of interest-free monthly instalments to more consumers across South Africa.

This collaboration improves the online purchasing experience for both consumers and merchants by providing an innovative and secure payment solution, according to a joint press release of the companies.

It continued: “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 as well as access to premium customers with pre-approved credit card facilities.”

Alex Forsyth-Thompson, CEO of Float, commented: “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.”

Meanwhile, Anine de Kock, head of Partnerships at Peach Payments, said: “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.”

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