South African e-commerce titan Superbalist has embraced the Buy Now Pay Later (BNPL) revolution, partnering with leading provider PayJustNow. Announced on 1st July 2024, this alliance significantly broadens PayJustNow’s retail network while offering Superbalist customers a flexible, interest-free payment option for their fashion, homeware, and furniture purchases.
The collaboration comes amidst soaring demand for BNPL solutions across the South African market. Craig Newborn, CEO of PayJustNow, explained the driving forces behind this trend: “South African consumers across all income brackets are increasingly seeking enhanced online shopping experiences, greater convenience, and better value. This has fuelled a surge in demand for interest-free BNPL options that align with monthly salary cycles.”
PayJustNow’s innovative platform allows customers to split their purchases into three equal, interest-free instalments. The service has gained traction not only among budget-conscious shoppers but also among more affluent consumers. Newborn revealed that 40% of PayJustNow’s customer base falls within the top two categories of Experian’s Financial Affluence Segmentation Tool: Luxury Living and Aspirational Achievers.
This demographic shift is reflected in the types of purchases made through the platform. High-value items such as appliances, furniture, branded fashion apparel, and specialised homeware are increasingly popular among PayJustNow users. In 2023, the app drove over 23 million referrals to various retailers, demonstrating its growing influence in the e-commerce landscape.
The partnership has already yielded positive results for Superbalist. Grant Paul Roy, the company’s Chief Product and Marketing Officer, reported an uptick in checkout completion rates and a boost in customer acquisitions. “Twenty percent of our first-time buyers are opting for PayJustNow as a BNPL solution,” Roy noted. “This partnership has not only provided our customers with greater financial flexibility but has also expanded our reach to new market segments.”
The integration of PayJustNow into Superbalist’s checkout process is seamless. Customers can select the BNPL option at checkout and, if not already registered, sign up on the spot. The credit vetting process takes just minutes, allowing for quick purchase completion.
For those preferring a more curated shopping experience, the PayJustNow app offers a growing catalogue of retailers and exclusive deals. This approach has helped position PayJustNow as more than just a payment solution; it’s becoming a shopping destination in its own right.
Newborn emphasised that the appeal of BNPL extends beyond mere affordability. “We’re seeing both wealthy and budget-conscious customers leveraging our platform. The three-month interest-free option is increasingly viewed as the smarter choice for managing cash flow, regardless of one’s financial status.”
As the BNPL sector continues to evolve, partnerships like the one between PayJustNow and Superbalist are likely to become more common. These alliances not only provide consumers with more flexible payment options but also offer retailers a powerful tool for customer acquisition and retention in an increasingly competitive e-commerce landscape.
