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Here’s what Samsung’s partnership with PayJustNow means for you
The aim is for consumers to get value for money, to stretch consumer rands even further by allowing buyers to purchase a product or service now only to pay for it later.
This is the result of a recent partnership between Samsung and local Buy Now, Pay Later (BNPL) provider, a cashflow budgeting tool that assists shoppers to buy goods now only to pay for them later.
The partnership grants consumers a window of access to items and services they want or need, with the ability to only pay for them later.
This affords the consumer access to spreading the cost of bigger purchases across three interest-free installments while they have the goods.
So a buyer can walk out with a phone and pay it off in three easy payments?
The answer leans towards a solid yes.
PayJustNow vets consumers during the application process before providing credit to them to determine shopper affordability. Scheduled automated deductions and reminders will ensure that shoppers do not miss their payments.
This is interesting, but Samsung says there has been a buy now pay later pattern, and the organization in looking out for the consumer identified a worthy partnership for that cause.
Astrud Meintjes, Head of eCommerce, at Samsung South Africa said: “As a customer-centric organization, we know the impact of the rise in the cost of living for our customers.”
“We are therefore always on the lookout for strategic partnerships that will help to ease the financial burden on our customers as well as offer them convenient buying and payment solutions.”
He adds that the partnership was motivated by the consumers’ appetite for Buy Now Pay Later payments.
“We saw 130 000 new customers in the first half of 2022 alone, with a growing 2550 merchant base at over 4400 points of presence,” said the company’s CEO, Craig Newborn.
“PayJustNow was designed for South Africans by South Africans. We’ve seen the face of the South African retail credit market change, and BNPL continues to win the hearts and minds of consumers and retailers alike. Samsung is a well-loved brand in South Africa, and we are excited about the opportunity to partner and give our customers better access to their products online,” said Newborn.
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