Samsung has announced its partnership with PayJustNow, a local Buy Now, Pay Later (BNPL) provider, to offer South African consumers enhanced value and convenience in their purchases. PayJustNow, a cashflow-friendly budgeting tool, enables shoppers to stretch their budget by providing a Buy Now Pay Later model. With this collaboration, Samsung aims to alleviate the financial burden on its customers and provide them with convenient buying and payment solutions.
Expanding Financial Flexibility
Samsung’s partnership with PayJustNow allows shoppers to access the items and services they want or need without straining their available resources. The Buy Now Pay Later model enables customers to spread the cost of larger purchases over three interest and fee-free installments while receiving the goods immediately. This flexible payment option enhances affordability and empowers consumers to make necessary purchases without compromising their financial stability.
Enhanced Affordability and Convenience
PayJustNow ensures responsible lending by vetting consumers during the application process to assess their affordability. By scheduling automated deductions and sending payment reminders, the platform helps shoppers avoid missing their payments. This proactive approach not only assists customers in managing their finances but also fosters a positive credit experience.
Innovative Deals Page
To further enhance convenience for local consumers, PayJustNow recently launched its Deals Page. This feature enables customers to browse merchant offers and promotions directly from the PayJustNow website or app. By logging into their accounts, shoppers can view deals and conveniently make purchases, providing them with a seamless shopping experience.
Astrud Meintjes, Head of eCommerce at Samsung South Africa, emphasized the company’s commitment to meeting the evolving needs of its customers. Recognizing the impact of rising living costs, Samsung actively seeks strategic partnerships that alleviate financial burdens and provide convenient buying and payment solutions. The collaboration with PayJustNow aligns with Samsung’s customer-centric approach, aiming to deliver enhanced value and financial flexibility to South African consumers.
Rise of BNPL Payments
PayJustNow’s recent financial results have shown triple-digit growth, highlighting the growing popularity of BNPL payments among South African consumers. The partnership between Samsung and PayJustNow was motivated by the increasing demand for flexible payment options. The introduction of BNPL payments has not only attracted new customers but also enabled existing customers to make larger purchases despite tighter budgets.
Emphasis on Security
PayJustNow prioritizes the security of its users and has introduced a selfie verification tool on its app. This additional security measure allows users to proactively verify their identity before making purchases, significantly reducing the risk of fraudsters accessing consumers’ personal information. With this feature, PayJustNow ensures that consumers can shop with peace of mind, knowing that their personal data is safeguarded.
Local merchants have already shown enthusiasm for PayJustNow’s new features, aiming to attract new customers and enable existing customers to make larger purchases within their budgets. PayJustNow reported significant growth, with 130,000 new customers in the first half of 2022 and a merchant base of 2,550 across over 4,400 points of presence. The CEO of PayJustNow, Craig Newborn, believes that BNPL is the future of smart shopping and expressed excitement about partnering with Samsung to provide customers with better access to products online.