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Payflex’s retail revolution
Buy-now-pay-later services such as Payflex are on a tear in SA — but will they rip into listed retailers’ lucrative credit books?
18 August 2022 - 05:00
The buy-now-pay-later (BNPL) revolution is moving into high gear in SA — and could be worth about R2bn by the end of this year, from almost nothing four years ago. But whether this will become a major threat to listed retailers’ vast credit books, or simply a leg-up for local sales, remains to be seen.
“BNPL makes up 2%-3% of total online retail spend and, at its current growth rate, this could reach 10%-15% in the next two years,” says Paul Behrmann, CEO of local group Payflex, which was set up in SA in 2018...
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