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FinTech boosts SME Growth through Significant Sales Increases


An innovative payment gateway is supporting the growth of SMEs by increasing their sales, increasing the order values of their products, and encouraging repeat purchasing. 

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 merchants. Consumers can apply in seconds and pay for their purchase with any Visa, Mastercard, or American Express card over 6-weeks, interest-free. This BNPL service allows qualifying 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 research on consumer behavior shows that as many as 80% of customers return to SMEs to buy more, sales increased up to 30%, and order values increased by up to 70%. This is good news for SMEs trying to grow their customer base, retain customers and grow their sales revenue. 

“Give your customers a flexible,  interest-free payment plan that will increase your sales. Payflex takes all of the risk for non-payment while merchants are paid upfront on the next business day to assist with cashflow,” says Paul Behrmann, CEO of Payflex. 

Payflex is also available for in-store merchants.

“Payflex offers competitive buy now pay later pricing and next business day settlement that boosts SME cash flow. Each merchant is assigned a dedicated Payflex account manager – much like a private banker – who works with the merchant to craft bespoke marketing strategies and drive new customer acquisition and growth. Payflex also offers dedicated support for shoppers,” Behrmann adds.

Payflex is much more than just a payment gateway. The fintech offers a full suite of services to SMEs, including innovative funding solutions in collaboration with Merchant Capital, an alternative funder. With Flexiadvance,  SMEs can access funding within 24 hours of application, and the solution offers flexible repayments aligned with turnover. 

In addition, Payflex offers merchant marketing support and boosts merchant sales by promoting merchants on social media and on the Payflex website which attracts over 200 000 visitors monthly.  

Testimonials from SMEs speak for themselves. KITA Fragrances says that Payflex has by far been the most supportive team when it comes to the payment options that it offers customers.

“We really enjoyed working with PayFlex. Their ethical financing option is refreshing in a sector that too often takes advantage of financially unsavvy 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, eCommerce manager at MIA Africa, says times are tough and the average consumer is struggling, but Payflex came to the rescue with an easy credit solution that lets customers 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 that assisted us in implementing 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 assisted in enticing new customers to buy from the store, with 24 new customers from the Payflex customer base shopping in its 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 last year, while Millie de Villiers, digital manager at Dermalogica, says using Payflex as a payment method on its eCommerce platform helped to increase its customer base and average basket size significantly as it makes shopping more affordable for valued customers. 


For an image of Paul Behrmann, CEO of Payflex and the Payflex website:

About Payflex

Payflex allows consumers to shop now and pay later, interest-free. After partnering with Zip, which has over 9.9 million customers worldwide, Payflex localised the technology platform to offer the first buy now pay later (BNPL) solution in South Africa. Payflex launched with (SA’s leading online fashion merchant) in 2019 and is now offered at over 1,500 online merchants. Payflex customers can apply in seconds and pay with any Visa, Mastercard or American Express card.

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