Zip acquires BNPL fintech Payflex to boost instalment payments in Africa

With a presence in twelve markets across five continents, Zip plans to grow the South African business and expand into other African markets with underbanked, digitally savvy populations that will benefit from innovative payment solutions.  

Payflex has grown from a base of just 70 merchants in 2019 to over 1,000 active merchants today, including leading brands such as Superbalist, Cotton On and Runwaysale. Over 135,000 customers have used Payflex - five times the customer base of 25,000 just a year ago (August 2020).