Payflex has launched its buy now pay later online retail service to South Africa. The company – which has seen extraordinary popularity in Australia, the USA and Europe – lets users shop online and pay later, interest-free over six weeks.
“Traditionally paying via instalments in South Africa has been associated with high-interest charges, as you are penalised for paying for the item over time,” says Paul Behrmann, CEO and founder of Payflex.
“But by using Payflex, every purchase you make is interest-free. You’ll know exactly when each of the four interest-free payments is due and there are no hidden costs. It puts you in control of your finances.”
Here’s how to use Payflex
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When making an online purchase, select Payflex as the payment method at checkout – Payflex accepts any Visa or Mastercard cards (debit, credit or cheque). Users will then need to provide their South African ID number in order to be assessed.
According to the company, fees only become due if users miss a scheduled payment, but they’ll receive email reminders in advance of each payment to help budget and make all payments on time.
Behrmann says that it is important for South Africans to budget and ensure they’ve prioritised their purchases. “The hassle-free Payflex option allows you to see exactly how and when you will make your payments. Provided you make your scheduled payments on time, you won’t be paying one cent extra in interest or fees for your purchase.”
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