Monday,23 June 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. 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 cardholders 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, pay25% 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.
Float is Africa's first card-linked instalment platform. It offers shoppers a smarter way to use their credit cards by splitting their payments into interest-free, fee-free monthly instalments using their existing credit.
Unlike the traditional buy now, pay later model, Float doesn't issue consumers new credit or charge late fees. It also doesn't have a sign-up, registration, or credit check process. Float can be fully configured for merchants in terms of the settlement model, the number of instalments offered to shoppers, and the channel (online, in-store, or via payment link). Float has no cap on order values, and average orders are almost ten times larger than traditional alternatives.
Since November 2021, Float has built a network of hundreds of merchants across online and in-store channels, including iStore, Samsung, Tiger Wheel & Tyre, The Pro Shop, Cycle Lab, and Dial-a-Bed. Float's transaction volumes have grown 400% year-on-year since 2021.
Adumois a leading provider of payment solutions in South Africa, committed to empowering South African businesses with the tools and solutions they need to thrive, providing their customers with the best possible payment experiences. Adumo continues to lead in creating innovative payment solutions that benefit both merchants and their consumers.
