Online travel agency Travelstart has launched a new ‘Book Now, Pay Later’ (BNPL) option in partnership with Payflex. The feature allows travellers to book flights and pay in easy, interest-free instalments, providing greater financial flexibility and making travel more accessible.
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According to FinTech Africa 2023 research, merchants utilising BNPL options report that customers tend to have higher basket values and increased frequency of purchases, with some businesses seeing sales rise by up to 30%.
Payflex has experienced a 10-fold increase in sales volumes between 2021 and 2023.
The rise of BNPL options in South Africa has transformed consumer spending habits by promoting greater financial flexibility, encouraging higher spending, and providing an accessible alternative to traditional credit systems. As economic conditions continue to evolve, the relevance and impact of BNPL are expected to grow further, shaping the future…
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