Float expands reach with Adumo partnership

Fintech collaboration brings interest-free payment flexibility to South African consumers at major retailers

Alex Forsyth-Thompson, founder and CEO of Float. Photo: LinkedIn. Portal ERP South africa. 

Float, a South African fintech pioneering card-linked instalments, has announced a strategic partnership with Adumo, one of the country’s top payment solution providers. This alliance is set to transform the in-store shopping experience by allowing consumers to split their purchases into four interest-free monthly instalments using their existing credit card limits.

Through this integration, customers shopping at retailers like Safari Outdoor, Verimark, Cellucity, TOMS, Vision Optometrists, and Tyremart can now enjoy the convenience and control of Float’s instalment solution. By operating directly through Adumo’s payment terminals, the service becomes instantly available at the point of sale, requiring no sign-up, registration, or credit checks.

According to Alex Forsyth-Thompson, founder and CEO of Float, this model is quickly gaining traction among shoppers looking for more manageable payment options. “Our partnership with Adumo significantly broadens access to our solution, enabling millions of credit card holders to better manage their spending without accumulating additional debt,” he noted.

Unlike traditional Buy Now, Pay Later (BNPL) offerings, Float doesn’t extend new credit. Instead, it works within the customer’s existing credit card limit, promoting more responsible financial behavior. Compatible with any Visa or Mastercard credit card, the solution opens instalment payment access to nearly seven million credit cards in South Africa.

The user experience is simple and secure. Shoppers select Float at checkout, confirm their identity via a one-time PIN, and pay 25% of the total immediately. The remaining balance is split into three automatic monthly instalments. Meanwhile, retailers receive the full payment upfront, eliminating financial friction.

For merchants, the benefits go beyond convenience. The partnership allows them to increase average basket sizes and conversion rates significantly. On average, businesses offering Float report a 134% increase in transaction value, with order sizes up to ten times larger than standard BNPL purchases.

Since its debut in 2021, Float has scaled rapidly, now active in over 1,500 locations including major retail chains like iStore, Samsung, Tiger Wheel & Tyre, Cape Union Mart and The Pro Shop. By enabling in-store access through Adumo, Float continues to cement its role as a driving force in the evolution of consumer payments in South Africa.