HomeChoice operating profit rises more than 80%
Retail lending division PayJustNow enabled R747m of sales in the 2022 financial year, an increase of 260%
Business acquisitions often do not go according to plan, but HomeChoice International’s decision to buy retail lending product PayJustNow has been an exception.
HomeChoice International, better known for its division that sells bedding on credit through catalogues, owns a fintech division that offers loans and insurance through digital platforms. It also owns the largest “buy now pay later” product in SA, which it bought in 2021. The concept refers to a type of retail lending that allows customers to pay for an item in store over three or four instalments, interest free, with the retailer paying a fee to the lender who takes the credit risk...
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