An innovative payment gateway supports the growth of SMEs by increasing their sales, increasing the order values of their products and encouraging repeat purchases.
Payflex allows consumers to shop now and pay later interest-free and was the first buy now pay later (BNPL) solution in South Africa. Payflex is available at more than 2,200 online retailers. Consumers can apply in seconds and pay for their purchase with any Visa, Mastercard or American Express card over six weeks, interest-free. This BNPL service allows eligible customers to split the cost of their purchases into four equal installments over six weeks, interest-free. Customers only pay a fee if they miss a scheduled installment.
The latest Payflex consumer behavior research shows that as many as 80% of customers return to SMB to buy more, sales increased by up to 30% and order values increased by up to 70%. This is good news for small and medium-sized businesses trying to expand their customer base, retain customers and increase sales revenue.
Paul Behrmann, CEO of Payflex
“Give your customers a flexible, interest-free payment plan that will increase sales. Payflex takes all the risk of non-payment while merchants are paid in advance the next business day to help with cash flow, says Paul Behrmann, CEO of Payflex.
Payflex is also available for store sellers.
“Payflex offers competitive buy now, pay later pricing and next business day settlement that increases cash flow for SMBs. Each merchant is assigned a dedicated Payflex account manager – much like a private banker – who works with the merchant to create tailored marketing strategies and drive acquisition and growth of new customers Payflex also offers dedicated customer support, adds Behrmann.
Payflex is much more than just a payment gateway. Fintech offers a complete package of services to small and medium-sized enterprises, including innovative financing solutions in cooperation with Merchant Capital, an alternative financier. With Flexiadvance, small and medium-sized businesses can access financing within 24 hours of application, and the solution offers flexible repayments adapted to turnover.
In addition, Payflex offers merchant marketing support and increases merchant sales by promoting merchants on social media and on the Payflex website, which attracts over 200,000 visitors monthly.
Certificates from SMB speak for themselves. Kita Fragrances says Payflex has been by far the most supportive team when it comes to the payment options they offer customers. “We enjoyed working with PayFlex. Their ethical financing option is refreshing in a sector that all too often takes advantage of financially clueless customers. Their customer support is fantastic and they have even helped us market and showcase our own products. We are very happy to have them as a financing partner on our website, says Niki Loveland from Rebox Tech.
Sashan Lalbiharry, head of e-commerce at MIA Africa, says times are tough and the average consumer is struggling, but Payflex came to the rescue with a simple credit solution that allows customers to buy now and pay later. “We decided to add Payflex as a payment option to our online store, and from the first interaction with our business development engineer to the Payflex development team helping us implement the solution, we received nothing but friendly service from a team that goes above and beyond. “
He says MIA Africa also benefited from significant marketing collateral to educate consumers on what and how to use Payflex, which really helped entice new customers to buy from the store, with 24 new customers from the Payflex customer base shopping in their online store within two weeks. after adding it as a payment option.
Dani Gruso, online manager at Carrol Boyes, also saw massive growth in Payflex sales over the past year, while Millie de Villiers, digital manager at Dermalogica, says using Payflex as a payment method on its e-commerce platform helped grow its customer base. and average basket size significantly as it makes shopping more affordable for valued customers.
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