Fintechs Float and Peach Payments partnership to benefit consumers and thousands of merchants

Float, Africa’s first credit card-linked instalment platform, announces its partnership with Peach Payments, a leading online payment solution provider. Now thousands of Peach Payments merchants can instantly integrate Float at checkout, broadening the reach of interest-free monthly instalments to more consumers across South Africa. This 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 as well as access to premium customers with pre-approved credit card facilities.

Says Alex Forsyth-Thompson, CEO of Float, “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”

Anine de Kock, Head of Partnerships at Peach Payments, adds, “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, as well as various pay-out solutions for companies. The system features enterprise-grade security, helping both consumers and merchants stay safe while transacting. 

De Kock adds, “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.