Float and Adumo partner to expand interest-free instalment payments across South Africa

South African fintech startups Float and Adumo have partnered to offer consumers the option to pay in-store over four interest-free monthly installments using the available limit on their credit card. 

Alex Forsyth-Thompson, founder and CEO of Float. Portal ERP South Africa. 

Float, Africa’s first card-linked instalment platform, has entered into a strategic partnership with Adumo, a leading payment solutions provider in South Africa. The collaboration aims to give consumers the ability to pay in-store over four interest-free monthly instalments, using the existing limit on their credit cards.

By integrating with Adumo’s payment devices, Float enhances the shopping experience at a wide range of retail locations across the country. Well-known brands such as Safari Outdoor, Verimark, Cellucity, TOMS, Vision Optometrists and Tyremart can now offer customers a more flexible and responsible way to use their credit cards.

“Float’s card-linked instalment model is fast becoming a widely adopted payment method among South African shoppers,” says Alex Forsyth-Thompson, founder and CEO of Float. “This partnership with Adumo expands our reach and ensures that millions of credit card holders can split their purchases over time, without paying interest.”

Designed for simplicity and ease of use, Float works seamlessly with existing Visa or Mastercard credit cards, requiring no registration, credit checks, or additional approvals. This makes it a fast and convenient payment option for consumers—while retailers benefit from increased average basket sizes and improved conversion rates.

Unlike traditional buy now, pay later (BNPL) models, Float does not extend new credit. Instead, it helps consumers use their available credit more strategically, encouraging responsible spending. The service is already compatible with around seven million credit cards across South Africa, giving merchants access to a large base of eligible customers.

At checkout, shoppers using an Adumo terminal can select Float as their payment method, authenticate with a one-time PIN, and pay 25% of the transaction value upfront. The remaining balance is automatically divided into three monthly instalments, interest-free. Meanwhile, merchants receive the full payment at the time of sale.

This partnership unlocks new value for retailers by offering greater payment flexibility to customers and driving higher-value transactions. With average purchase sizes up to ten times higher than traditional BNPL, and access to over five million pre-approved credit card holders, merchants typically experience a 134% boost in average order value and a lift in sales conversions.

Since launching in November 2021, Float has expanded rapidly and is now available in more than 1,500 retail locations, including major brands such as iStore, Tiger Wheel & Tyre, Samsung, Cape Union Mart, and The Pro Shop. Its integration with Adumo further solidifies Float’s leadership in the instalment payment space, helping both merchants and consumers make smarter, more flexible financial choices.