Local retailer Game has moved to drive greater sales and loyalty ahead of Black Friday and the festive shopping season by offering consumers the option to pay for their in-store purchases using PayJustNow’s Buy Now, Pay Later (BNPL) method.

BNPL lets shoppers spread the cost of their purchases across three months interest and fee free, while receiving the goods immediately. South African consumers are embracing this payment method with alacrity, with local BNPL provider PayJustNow seeing a 260% increase in the number of transactions – and 137,000 new customers - in the first six months of the year alone.

Game’s agreement with PayJustNow will allow consumers to use BNPL in all 108 stores from 14 November, said Andrew Stein, Vice President of Game.

“In a tough economic environment, shoppers are looking for the right products at the right prices – but more than that, they’re also looking for great experiences that make it as easy as possible for them to complete their purchases,” said Stein. “While we’ve seen the impact of BNPL on ecommerce, the fact is that most purchases still take place in-store, and it makes sense to offer our customers the widest array of payment options.”

Craig Newborn, CEO of PayJustNow, says consumers are between 20%-30% more likely to complete a purchase when a retailer offers BNPL as a payment method, whether online or in-store.

“Consumers are looking for easy payment options that give them flexibility. We’ve seen 52% of all transacting customers across our retailer base sign up before making a purchase at a retailer, which means we’re driving consumer buying power and helping retailers acquire new customers. But the real winners are the retailers, who are seeing significantly increased conversions and customer loyalty,” said Newborn.

Contrary to popular opinion, BNPL is not only used by lower income consumers. Financially secure consumers use BNPL as a tool for improving their buying power, with many seeing it as a payment tool that gives them options and makes them more likely to shop in stores offering it.

BNPL was also designed to avoid contributing to rising consumer debt, said Newborn. “Shoppers use BNPL for a range of reasons. They want to be responsible with their finances, they like the convenience, or they simply don’t have a credit card. The model actually rewards good financial behaviour, because users must pay off one product before they can purchase another – and with each purchase, they build a better credit profile without the use of revolving credit.”

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About PayJustNow
Launched in August 2019, PayJustNow is a fintech company in the booming Buy Now, Pay Later (BNPL) space and is already the largest business of its kind in Southern Africa, with 530 000+ customers signed up and over 2200 merchants at over 4400 points of presence using its product. PayJustNow’s solution is a responsible alternative to credit, with no interest or fees charged unless payments are missed. The PayJustNow system determines shopper affordability, schedules automated deductions, and sends reminders to make sure shoppers don’t miss a payment. It gives shoppers access to items and services they want or need without constraining their available resources.

For further information: www.payjustnow.com