Payflex
Payflex is a South African Buy Now Pay Later fintech founded in 2017 that offers interest-free installment payment plans (Pay in 2, 3, or 4) and a Pay Now option to online and in-store shoppers, settling merchants upfront while absorbing consumer credit risk. It serves enterprise retailers such as Takealot, Woolworths, and TFG alongside a long tail of SMB e-commerce merchants across multiple verticals.
- Company typePrivate
- Founded2017
- HeadquartersJohannesburg, South Africa
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Payflex does
Payflex Proprietary Limited is a South African Buy Now Pay Later (BNPL) fintech founded in 2017 and headquartered in Johannesburg. The company operates a cloud-based BNPL payment platform that enables shoppers to split purchases into interest-free installments via Pay in 2, Pay in 3, or Pay in 4 plans, plus a Pay Now upfront-payment option. Merchants are settled in full at the point of sale while Payflex absorbs consumer credit risk and collects installments over the repayment period, typically aligned to customer paydays.
The platform is built on a RESTful Merchant API (v1.0) using OAuth2 Client Credentials authentication, with both redirect-URL and embedded iFrame checkout options and webhook callbacks for order status notifications. Payflex ships native integrations and JavaScript calculator widgets for Shopify, WooCommerce, Magento, PrestaShop, OpenCart, nopCommerce, and Wix, and supports custom-built e-commerce back-ends. Consumer onboarding uses biometric identity verification through SmileID (leveraging Apple's TrueDepth API against Department of Home Affairs records). The company is licensed under South Africa's National Credit Act and POPIA-compliant.
Payflex generates revenue from merchant transaction fees, a nominal monthly merchant service fee, and consumer default fees (R95–R125 per missed installment, capped at R285–R375) plus 2% per month default interest on overdue balances. Distribution is API-first and self-serve, supplemented by channel partnerships with payment processors (PayU, Peach Payments, Netcash), technology integrators (Vaimo, Ecomplete, WarpDev), and a Merchant Finance offering delivered through FeverTree Finance. The merchant base spans enterprise retailers (Takealot, Woolworths, TFG, Superbalist, PEP, Edgars, Leroy Merlin) and a long tail of mid-market and SMB merchants across fashion, electronics, home, fitness, beauty, appliances, food and beverage, and travel.
Payflex firmographics
Firmographics- Name
- Payflex
- Legal name
- Payflex Proprietary Limited
- Website
- https://payflex.co.za
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Payflex is a South African Buy Now Pay Later fintech founded in 2017 that offers interest-free installment payment plans (Pay in 2, 3, or 4) and a Pay Now option to online and in-store shoppers, settling merchants upfront while absorbing consumer credit risk. It serves enterprise retailers such as Takealot, Woolworths, and TFG alongside a long tail of SMB e-commerce merchants across multiple verticals.
- Ownership category
- akta.pro rank
Payflex industry classification
Industry- Product category
- Buy Now Pay Later (BNPL) Consumer Lending
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Payouts, Disbursements & Marketplace Split Payments (CRAFALAI)
- akta.pro secondary industry
- Late Fee / Bill-Pay Advance Products (FSAKAMAM)
Keywords
Where Payflex is headquartered
LocationHeadquarters
- HQ city
- Johannesburg
- HQ country
- South Africa
- HQ region
- Africa
Offices1 record
Markets served
Payflex business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel
Revenue model
- Merchant Transaction Fees: Payflex charges merchants transaction fees on successful BNPL orders. The platform pays merchants the full purchase price upfront and then collects installments from customers. Transaction fees are nominal per successful order, distinct from the monthly service fee.
- Monthly Merchant Service Fee: Merchants pay a nominal monthly service fee for access to the Payflex payment platform. This is a recurring subscription-like charge for platform access.
- Default Fees and Interest: When customers miss installment payments, Payflex charges default fees (R95 for Pay in 2/Pay in 4, R125 for Pay in 3), capped at R285-R375 depending on plan. Default interest of 2% per month is charged on overdue balances under the National Credit Act incidental credit provisions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Pay Now - One-time payment option for merchants |
| Other | Pay-as-you-go | Pay in 2 - Two interest-free installments |
| Other | Pay-as-you-go | Pay in 3 - Three interest-free installments |
| Other | Pay-as-you-go | Pay in 4 - Four interest-free installments over 6 weeks |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
Payflex product offering
Product offeringCore offering
Payflex is a South African Buy Now Pay Later platform that enables shoppers to split purchases into interest-free installments of 2, 3, or 4 payments (Pay in 2, Pay in 3, Pay in 4), with an option to pay in full upfront (Pay Now). Merchants integrate Payflex via RESTful APIs or pre-built plugins on platforms such as Shopify, WooCommerce, Magento, PrestaShop, OpenCart, nopCommerce, and Wix, receiving full upfront settlement while Payflex collects installments from customers and absorbs the credit risk.
Product overview
Payflex is a South African Buy Now Pay Later (BNPL) platform offering multiple payment products for both consumers and merchants. The core offering consists of interest-free installment payment plans: Pay in 4 (4 payments over 6 weeks), Pay in 3 (3 payments over 2 paydays), Pay in 2 (2 payments over 1 payday), and Pay Now (full upfront payment). These are complemented by Merchant Finance for business funding and developer tools including Calculator, Shopify, and WooCommerce Widgets plus a RESTful Merchant API. The platform operates exclusively within South Africa.
Differentiator
Problem solved
Functional benefit
Products and services
- Pay in 4 BNPL payment plan allowing customers to split purchases into four interest-free installments over six weeks, with the first payment due upfront and remaining three payments debited every two weeks. Available at Payflex merchant partners for orders between R50 and R950.
- Pay in 3 BNPL payment plan allowing customers to split purchases into three interest-free installments over three pay cycles, with the first payment due upfront and the balance split over the next two paydays. Interest-free if paid on time, with R125 default fee per missed payment (capped at R375).
- Pay in 2 BNPL payment plan allowing customers to split purchases into two interest-free installments, with 50% paid upfront at checkout and the remaining 50% debited on the customer's selected payday. Default fee of R95 per missed payment, capped at R285.
- Pay Now Upfront payment option allowing customers to pay the full purchase price immediately via credit/debit card or EFT. Also supports guest checkout for non-registered customers and early settlement of existing Pay in 2/3/4 orders.
- Merchant Finance Business funding available to Payflex merchants with at least 6 months trading history. Provides seamless, secure capital within 24 hours, subject to credit approval. Financing options include cash advance (6-month fixed-term contract) and early access (30-day contract based on trading history), delivered via partner FeverTree Finance.
Companies that use Payflex
Customer profileNamed customers27 records
Segments4 records
Ideal customer profiles4 records
Payflex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
Feature5 records
Payflex partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core.
- PAYUcorePayment processor partner enabling Payflex payment acceptance. Listed in Payments section of Payflex partnerships page.
- Peach PaymentscorePayment infrastructure partner integrated with Payflex for processing transactions.
- MasterpasscoreMastercard's digital payment service integrated as payment method within Payflex platform.
- ZappercoreSouth African QR code payment provider integrated with Payflex for flexible payment acceptance.
- VaimocoreDigital commerce agency partner providing e-commerce implementation services for Payflex merchant integrations.
- SmileIDcoreBiometric identity verification service used for customer KYC. Integrates with Apple's TrueDepth API for facial recognition and validates against South African Department of Home Affairs records.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
Payflex competitors and assessment
Company assessmentDirect peers
- Mobicred: South African BNPL and online credit account provider enabling consumers to shop and pay over time at multiple merchants. Competes head-to-head with Payflex for both consumer wallet share and merchant integrations.
- PayJustNow: South African BNPL provider offering Pay in 3 interest-free installments at online and in-store merchants. Directly competes with Payflex on the same South African consumer base with a similar product structure.
- Happy Pay: South African BNPL provider offering split-payment options at retail and online merchants. A direct competitor to Payflex with overlapping target customers and similar product mechanics.
- Pay@ (Pay@ Pty Ltd): South African BNPL and bill-payment solution enabling consumers to split purchases into installments. Competes with Payflex in the South African BNPL market, particularly at retail point-of-sale.
- Float (Float Financial Services): South African BNPL fintech offering installment payments across e-commerce checkouts. Directly competes with Payflex for merchant partnerships and consumer adoption in the same geography.
Broad incumbents
- Klarna: Global BNPL leader with established presence in multiple markets. Enters or expands in South Africa with deeper capital, brand recognition, and merchant relationships, posing competitive pressure on Payflex.
- Afterpay (Block, Inc.): Global BNPL player owned by Block. Expands into new geographies and competes for the same merchant integrations and consumer mindshare that Payflex targets.
- PayU: Global payment processor with South African operations and an existing Payflex partner. Provides alternative payment infrastructure that competes for merchant checkout integration budgets.
- Peach Payments: South African payment processor and Payflex partner. Operates broader payment infrastructure that includes BNPL-style offerings and competes for the same merchant relationships across checkout.
- Zip Co: Global BNPL operator and existing Payflex investor. Operates BNPL products across multiple geographies and represents both a potential partner and a competitive threat in the South African market.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Payflex social profiles
Digital presencePayflex compliance and trust
Trust signalCompliance2 records
Payflex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Payflex leadership team
Management profileNumber of profiles
Profiles1 record
Payflex funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Payflex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Payflex
What does Payflex do?
Payflex is a South African Buy Now Pay Later platform that enables shoppers to split purchases into interest-free installments of 2, 3, or 4 payments (Pay in 2, Pay in 3, Pay in 4), with an option to pay in full upfront (Pay Now). Merchants integrate Payflex via RESTful APIs or pre-built plugins on platforms such as Shopify, WooCommerce, Magento, PrestaShop, OpenCart, nopCommerce, and Wix, receiving full upfront settlement while Payflex collects installments from customers and absorbs the credit risk.
Is Payflex a public or private company?
Payflex is a private company. It is classified as venture growth investor backed and is currently operating.
When was Payflex founded?
Payflex was founded in 2017. It employs 11 to 50 people.
Where is Payflex based?
Payflex is headquartered in Johannesburg, South Africa, in the Africa region.
How does Payflex make money?
Three revenue lines are on record. Merchant Transaction Fees are the primary driver. The others are monthly Merchant Service Fee and default Fees and Interest.
Who are Payflex's main competitors?
Direct peers on record are Mobicred, PayJustNow, Happy Pay, Pay@ (Pay@ Pty Ltd) and Float (Float Financial Services). Broad incumbents are Klarna, Afterpay (Block, Inc.), PayU, Peach Payments and Zip Co.
Does Payflex have an API?
Yes. Payflex offers a RESTful Merchant API (v1.0) for integrating BNPL payment options into e-commerce sites. The API uses OAuth2 Client Credentials Flow for authentication. Available endpoints include: Place Order (POST /order), Get Order (GET /order/{orderId}), Configuration (GET /configuration), Refund (POST /order/{orderId}/refund), and Get Refund (GET /order/{orderId}/refunds/{refundId}). The API supports webhook callbacks for order status notifications with a retry mechanism (up to 300 seconds backoff). Separate sandbox (https://api.uat.payflex.co.za/) and production (https://api.payflex.co.za/) environments are provided. Integration options include Redirect URL (hosted checkout) and Embedded iFrame. Widgets are also available for calculator displays on Shopify and WooCommerce platforms. Developer documentation is at docs.payflex.co.za.
What industry is Payflex in?
Payflex's product category is Buy Now Pay Later (BNPL) Consumer Lending. Its primary akta.pro industry code is CRAFALAI, Payouts, Disbursements & Marketplace Split Payments, with a secondary code of FSAKAMAM, Late Fee / Bill-Pay Advance Products. Its NAICS code is 52222 and its SIC code is 6141.