Buy Now, Pay Later with Float from our Shop

Buy Now, Pay Later with Float from our Shop

Buy Now Pay Later (BNPL) services have surged in popularity globally, especially in tandem with the growth of e-commerce and online shopping. This payment approach empowers buyers to procure goods and services without an immediate full payment requirement. Instead, they can opt for manageable instalments spread over a period. Millennials and Gen Z individuals are notably attracted to this method.

FLOAT represents a novel BNPL payment option known as Instalments-as-a-service. It grants consumers the flexibility to make purchases online, in-store, or through invoicing, allowing them to divide their expenses into as many as 6 interest-free and fee-free monthly instalments, utilizing the available credit limit on their Visa or Mastercard.

Diverging from the conventional BNPL structure that extends fresh lines of credit and imposes penalties for overdue payments, Float presents a more intelligent approach for shoppers. It leverages their existing credit cards by enabling them to split payments into interest-free, fee-free monthly instalments within their available credit limit.

What's the process behind using Float's Instalments-as-a-service? Customers opt for the Float payment option during checkout and input their Visa or Mastercard credit card details. The payment gets approval and processing if the total purchase amount is available on their credit card. Float momentarily "holds" the entire amount on the credit card but only invoices the consumer for the initial interest-free instalment. Customers receive their goods or services right away, while the subsequent instalments are billed on a monthly basis, each on the same day.

Paying with Float is a breeze, following three straightforward steps:

1. Opt for Float as the payment method during checkout. While there aren't set limits on purchase sizes, certain merchants might establish a maximum value for transactions made through Float. On Oukitel South Africa store, the minimum order value is R3 000 and maximum value R80 000. 
2. Select the desired number of instalments for payment. Float presents an option of up to 6 interest-free monthly instalments, contingent upon the terms set by the merchant for their customers.
3. Input the credit card details and Float away! Float seamlessly collaborates with any Visa or Mastercard credit card, including business credit cards, facilitating manageable payments for substantial purchases. Consumers or businesses should ensure the availability of the full purchase amount beforehand.

So, what are the benefits of paying with Float? First, consumers can buy bigger and pay later, using the available limit on their credit card to pay in multiple interest-free, fee-free instalments. There are no interest or fees, even if they miss a payment. Second, there are no applications or credit checks because it's the customer's credit already. Third, Float doesn't issue consumers new credit as it uses their existing credit limit in a smarter way. Finally, Float is easy to use and available at selected e-commerce stores, physical stores, and on invoices.

Float stands as the sole Instalments-as-a-service provider for Buy Now Pay Later (BNPL) in Africa, carving a niche among South African consumers impacted by persistent interest rate hikes. Within Float's realm, customers relish the identical freedom to settle their purchases in instalments over time sans the need for fresh credit, setting it apart from other existing BNPL services. The Float payment approach is user-friendly and applicable at designated e-commerce platforms, brick-and-mortar stores, and through invoicing options.