what is payflex and how does it work

Payflex is an online payment platform popular in South Africa that allows consumers to split the cost of their purchases into four equal, interest-free installments paid over a six-week period. Customers pay 25% upfront at the time of purchase and the remaining balance in three equal payments every two weeks, without any interest or additional fees, making it a Buy Now Pay Later (BNPL) solution. Merchants receive the payment upfront (minus a small commission) from Payflex, while Payflex assumes the credit risk and collects installment payments from customers. Registration requires a quick credit check and the service is available to South African residents with a debit or credit card issued by a South African bank. In short, Payflex helps consumers manage payments in smaller chunks to ease financial burden while enabling merchants to boost sales and receive immediate payment.