SA fintechs Float and Adumo team on in-store installment payments

Finextra

23-06-2025

Float, Africa's first card-linked instalment platform, has announced a strategic partnership with Adumo, a leading provider of payment solutions in South Africa.
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This collaboration will offer consumers the option to pay in-store over four interest-free monthly instalments using the available limit on their credit card.
This collaboration enables an improved shopping experience at a wide range of mainstream retail outlets using Adumo payment devices.
Retailers such as Safari Outdoor, Verimark, Cellucity, TOMS, Vision Optometrists and Tyremart can now offer Float's popular payment solution, which allows customers to pay with their credit card more responsibly.
"Float's card-linked instalment model is fast becoming a pervasive payment method for shoppers across South Africa. This partnership with Adumo will further our footprint and ensure that millions of credit card holders can split their purchases over several months, without incurring any added interest," says Alex Forsyth-Thompson, founder and CEO of Float.
Float is designed to work seamlessly with existing credit cards without needing sign-up, registration, or credit checks, making it a convenient and instant payment option for credit card holders. At the same time, merchants benefit from significantly bigger baskets and improved sales conversion rates.
Card-linked instalments differ from the regular buy now pay later (BNPL) model as it does not issue new credit to consumers. Instead, Float helps consumers use their existing credit more innovatively and responsibly. The service is compatible with any Visa or Mastercard issued credit card, meaning Float merchants can accept instalment payments from around seven million credit cards in South Africa.
Using Float on an Adumo terminal is simple: shoppers select it as a payment option at checkout, verify their identity with a one-time pin, pay 25% upfront on their credit card, and the remaining balance is automatically split into three monthly instalments. Consumers pay over time while merchants receive the full payment upfront.
The partnership creates significant value for retailers by offering shopper payment flexibility while driving larger purchases. With average order values ten times larger than regular BNPL and access to over five million pre-approved credit card holders, merchants typically see a 134% increase in average transaction value and higher conversion rates.
Since its launch in November 2021, Float has experienced substantial growth. It now supports over 1,500 stores, including leading brands like iStore, Tiger Wheel & Tyre, Samsung, Cape Union Mart and The Pro Shop. Introducing in-store payment options through Adumo further strengthens Float's position as a leader in the instalment payment market.