In a move that highlights the growing spirit of collaboration within South Africa’s financial technology sector, two leading fintech players — Float and Adumo — have announced a strategic partnership aimed at transforming the in-store payment experience for consumers.
Float, a Buy Now, Pay Later (BNPL) provider, has teamed up with Adumo, one of South Africa’s largest independent payment processors, to offer shoppers the ability to split in-store purchases into interest-free instalments using their existing credit cards. This innovation eliminates the need for customers to apply for new credit lines or open additional accounts, streamlining the payment process while enhancing affordability.
The partnership integrates Float’s digital BNPL platform with Adumo’s extensive network of over 50,000 in-store payment terminals across the country. This collaboration enables retailers to offer flexible payment options directly at the point of sale, potentially increasing average transaction values and improving customer satisfaction.
Founded in 2021, Float allows consumers to divide purchases into up to 24 monthly instalments using their existing Visa or Mastercard credit cards. Unlike traditional BNPL models that issue new credit, Float’s solution is card-linked and activated through a mobile platform connected to the customer’s current bank account. This approach reduces friction and promotes responsible spending.
“Float’s card-linked instalment model is fast becoming a preferred payment method for South African shoppers,” said Alex Forsyth, Founder and CEO of Float. “Our partnership with Adumo significantly expands our reach, enabling millions of credit card holders to access flexible, interest-free payment options at more retail locations.”
Adumo’s payment terminals are already deployed in major retail chains such as Safari Outdoor, Verimark, Cellucity, TOMS, Vision Optometrists, and Tyremart. This integration builds on Float’s existing footprint in over 1,500 stores, including prominent brands like iStore, Samsung, and Cape Union Mart.
As economic pressures continue to affect consumer spending, demand for flexible and accessible payment solutions is on the rise. This partnership positions both companies to meet that demand while reinforcing the role of homegrown innovation in shaping the future of payments in South Africa.
