South Africa will be the first market, with a launch planned for the second quarter of 2023, Haidar tells The Africa Report. He also wants to roll out the product in Nigeria.
The product will provide e-commerce suppliers with a payment guarantee and allow SME purchasers to spread the bill over three or four months. That can make a major difference to businesses as they can buy new equipment as soon as it is needed. “They can boost their revenue today, not in six, eight, or ten months’ time,” Haidar says.
“Access to that small bit of extra liquidity and a bit of flexibility in their cash flow means they can seize opportunities and take risks that would otherwise be out of reach.”
BNPL, according to Worldpay, will be the world’s fastest-growing payment method between 2021 and 2025. African players are starting to explore the market. E-commerce player Jumia partnered with the valU platform
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