Africa Fintech: Standard Bank unveils Growth Plan for Floating Businesses

TLDR:

• Standard Bank partners with BNPL company Float with a ZAR200m investment.
• Float’s card-linked instalment platform aims to promote responsible credit card use and help merchants increase sales.

In a strategic move, Standard Bank has invested ZAR200m in Float Technologies Proprietary Limited (Float), a buy now, pay later (BNPL) company. This partnership marks the first time Standard Bank has collaborated with a BNPL company and is aimed at accelerating Float’s fintech presence across Africa. Float’s innovative technology model allows shoppers to split credit card payments into interest-free, fee-free monthly instalments, promoting responsible credit card use while helping merchants expand their sales…