Payflex is a Johannesburg-based financial institution that offers both “Buy Now Pay Later (BNPL)” and “Pay Now” financing for the e-commerce industry. Customers can order and receive their items in advance and pay for them later in 4 interest-free installments over six weeks.

Payflex is backed by ZIP, an Australian fintech company with over 3.5 million customers across the US, UK, Australia, and New Zealand.

Through Payflex, consumers can shop at over 650 online retailers in the Payflex digital mall.

Payflex’s BNPL does not charge customers any interest or fees if they pay on time and repay the balance within six weeks. Merchants pay a small fee to provide this convenience to their customers.

Merchants pay no setup fees when they partner with Payflex and only pay transaction fees for successful orders.

CEO and founder Paul Behrmann (Linkedin) stated that the company has over 2,000 online merchants and is adding 100 new merchants each month and has a total of 300,000 active users.

We rate the company on Green.