Call Pay Launches a New Feature: Buy Now and Pay Later
At Callpay, we are thrilled to introduce our latest innovation – a Buy Now, Pay Later (BNPL) service that provides more financial flexibility for customers. As a homegrown fintech on a mission to transform payments in South Africa, we created this buy now and pay later feature to align with our values around empowerment, transparency, and driving inclusion. We explain what motivated this launch, how Buy Now, Pay Later benefits both consumers and merchants, and what makes our offering stand out.
Buy Now, Pay Later Popularity Is Surging in South Africa
Launching Buy Now, Pay Later in South Africa is our response to the rapid shift occurring in consumer payment preferences and shopping habits. According to our research, Millennial and Gen Z shoppers are more inclined towards digital and mobile-based payment solutions, which means buy now and pay later resonates with these tech-favouring consumers. It is clear that flexible payment options are becoming more prevalent.
Several factors are fueling this Buy Now, Pay Later boom in South Africa:
- E-commerce is expanding quickly as more people embrace digital shopping. Buy Now, Pay Later gives these online shoppers a convenient checkout option.
- Younger demographics like millennials and Gen Z, actively seek out alternative payment methods compared to traditional credit cards.
- Buy Now, Pay Later allows no deposit or credit checks, which provides financial access to underbanked consumers who may not qualify for other financing options. Aligning with nationwide goals around financial inclusion.
As a payments leader serving thousands of local businesses, Callpay is ready to meet this surging demand for flexible spending.
How Our Buy Now, Pay Later Service Empowers Consumers
With Callpay’s Buy Now, Pay Later option, customers can split payments for eligible purchases from integrated merchants into interest-free instalments over a specified number of months. It provides an accessible way to pay over time instead of all at once.
Here are some key ways our Buy Now, Pay Later feature benefits consumers:
- Enhanced budgeting: Structured weekly or monthly instalments make it easier to budget for big-ticket items.
- Avoid credit card debt: Buy Now, Pay Later offers a cost-effective alternative to revolving credit card balances that rack up interest.
- Varied Merchant Partnerships: We have partnered with numerous respected retailers, affording consumers an ample selection of products and services.
- Fast approval: Our sign-up process is simple and quick, with minimal eligibility requirements.
In short, Buy Now, Pay Later provides freedom, flexibility, and control over personal finances – cornerstones of why the service is so appealing.
Buy Now, Pay Later Drives Value for Retail Partners Too
While consumers greatly benefit from the Buy Now, Pay Later options, our merchant partners also stand to gain immense value after integrating this payment method.
Here are some major advantages we highlight to retailers about Buy Now, Pay Later:
- Larger order values: Buy Now, Pay Later increases purchase amounts for merchants since people can afford more instalments.
- Competitive edge: Providing flexible payments makes our merchant clients stand out against retailers that only accept one-time payments.
- Repeat business: Buy Now, Pay Later customers demonstrate strong repeat purchase behaviour and loyalty to merchants.
- Younger demographics: millennials and Gen Z are a huge, fast-growing market and actively use Buy Now, Pay Later options.
With these benefits in mind, we have made our Buy Now, Pay Later integration simple and risk-free for sellers. It is a true win-win, enabling merchants to unlock revenue growth while customers gain payment flexibility.
How Callpay Stands Out in the Buy Now, Pay Later Market
With the rapid rise of Buy Now, Pay Later in South Africa, there are now multiple provider options for consumers and businesses. So, what makes Callpay the right choice?
As an established payments leader, we bring unique advantages:
- Local expertise: Our Buy Now, Pay Later service is engineered specifically for the South African market, not a copy-and-paste from abroad.
- Robust security: backed by strong safety and encryption protocols to protect user data and prevent fraud.
- Strong retailer network: We enable Buy Now, Pay Later payments at many online and brick-and-mortar seller locations nationwide.
- Proactive customer care: Pay Flex provides excellent customer support for any Buy Now, Pay Later-related queries.
Simply put, Callpay delivers a premier, purpose-built Buy Now, Pay Later solution backed by our proven expertise and commitment to empowering consumers and growing businesses alike.
Introducing Buy Now, Pay Later, Aligns with Our Values of Inclusion and Empowerment
Launching innovative products like Buy Now, Pay Later highlights our core purpose as a company – to spark positive transformation in the South African financial landscape.
With this service, we aim to:
- Increase access to fair, affordable financial products that improve lives.
- Cater to modern consumer preferences for flexible, digital payment options.
- Support the growth of small businesses by providing tools to increase sales.
- Partner with major retailers to offer all South Africans more choice at checkout.
- Continue building trust through transparent, responsible financial services.
Since inception, Callpay has been driven by the goal of developing cutting-edge payment solutions. We believe Buy Now, Pay Later has incredible potential to drive financial inclusion and freedom for underserved demographics. Introducing this feature aligns powerfully with our values and vision as a brand.
The Future Looks Flexible with Callpay Buy Now, Pay Later
Looking ahead, we are energised and optimistic about the difference Buy Now, Pay Later can make in improving financial access and experiences in South Africa. This is just the beginning of a payments revolution we are proud to be leading.
Learn more about Callpay and our commitment to flexibility, transparency and driving financial inclusion for all South Africans. We invite merchants across all industries to partner with us and offer your customers more choice at checkout.
With Callpay’s user-friendly BNPL option, both shoppers and sellers can benefit from this growing financial trend. Consumers get to spread costs over time, while retailers attract more business.