As BNPL demand among consumers grows rapidly, EFT Corporation enables its clients to add this flexible payment functionality to their checkout payment options via a partnership with Happy Pay.
One of Africa’s leading payment providers, EFT Corporation has introduced a new buy now pay later (BNPL) offering provided in collaboration with Happy Pay – an AI-powered BNPL platform with a focus on sustainability.
The new payment option will be added to EFT Corporation’s hosted checkout platform, enabling merchants across South Africa to offer customers greater payment flexibility. The new feature is powered by Happy Pay, a local BNPL platform designed around South African income cycles.
Through the integration, EFT Corporation merchants can activate Happy Pay directly within their existing payment environments, with no additional development required. The partnership forms part of EFT Corporation’s broader e-commerce strategy to expand its suite of payment options, which already includes card payments, Scan to Pay, and instant EFT solutions.
Happy Pay allows consumers to split purchases into two equal, interest-free payments aligned with their monthly paydays, without requiring an upfront deposit. Its AI-driven credit approval system conducts real-time affordability checks and approves transactions within minutes. Happy Pay settles the full amount with the merchant at the time of purchase and manages the repayment process directly with the consumer, meaning EFT Corporation and its clients assume no credit risk.
The BNPL installment payment model has seen rapid global adoption, with markets reporting compound annual growth rates exceeding 20%. Merchants that introduce this payment method often see higher conversion rates and increased average basket sizes. For instance, Happy Pay’s partners have reported growth of up to 190%.
EFT Corporation said the partnership aligns with its focus on enhancing financial inclusion and empowering underserved communities. By offering an accessible, transparent alternative to traditional credit, the BNPL service aims to provide consumers with more flexible purchasing options while helping merchants drive sales in a competitive online retail environment.
