Making credit access fair in South Africa.
FloatPay was built in Cape Town with one goal: zero-interest split payment that works within the NCA framework, not around it — and merchant tools that drive real basket growth without adding risk.
Why FloatPay exists
Alex Forsyth-Thompson spent years working at the intersection of retail and financial services in the Western Cape, watching the same friction repeat: South African consumers with steady incomes being declined for credit cards, or approved at interest rates that made a R1,200 purchase cost R2,000 by the time it was paid off.
The lay-by alternative meant waiting weeks for an item already paid for. Neither route made sense for a population increasingly shopping online, on mobile, on their own schedule.
FloatPay was built on a simpler model: pay 25% today, get your item immediately, settle the rest in three equal automatic debits over 90 days — zero interest, always. Designed specifically for South African consumers and compliant with the NCA from day one. Not a copy of Klarna or Afterpay, and not a credit card in disguise.
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The people behind FloatPay
A small, focused team based in Cape Town — building a BNPL platform that takes NCA compliance and consumer protection as seriously as conversion rates.
Our values
No hidden fees. No legalese. Every charge is disclosed clearly before you commit. The R99 late fee is all we charge.
Credit access shouldn't require a high income or perfect credit score. FloatPay's soft check model opens doors for more South Africans.
We assess affordability before approving purchases. We comply with the NCA. We do not profit from consumer debt — we profit from growth.
We grow when our merchants grow. Bigger baskets, repeat customers, more South Africans with access to interest-free credit — that's the loop we're building, and it compounds.
Key milestones
Alex Forsyth-Thompson incorporates FloatPay (Pty) Ltd in Cape Town. Applies for NCA credit provider registration.
FloatPay goes live with initial Shopify and WooCommerce integrations. First 10 merchant partners onboarded in Cape Town.
FloatPay closes an angel funding round to accelerate merchant onboarding, expand the engineering team, and strengthen our credit facility.
FloatPay's merchant network exceeds 200 active shops across South Africa — fashion, electronics, home goods, health and beauty, and outdoor gear.
Building for the long term
FloatPay is angel-backed by investors focused on South African fintech and financial access. Our model is merchant-funded: MDR revenue from sales, not interest on consumer debt.
We do not profit when consumers struggle. Our revenue grows when merchants sell more — that alignment is deliberate. It means our incentives are on your side, not working against you.
Regulatory commitment
FloatPay operates as a registered credit provider under the National Credit Act 34 of 2005. NCR registration pending. POPIA compliant.
Want to be part of the story?
Whether you're a shopper, merchant, or potential partner — we'd love to hear from you.