A customer wants to buy an item costing R2000 from your online store.

Question

A customer wants to buy an item costing R2000 from your online store. Instead of paying for the item in full upfront, they have the choice of using Payflex when they check out. Payflex allows them to split the cost of the purchase up into 4 equal, interest and fee-free payments. When checking out, the customer completes a quick form and is instantly vetted. Upon approval, they then pay the first 25% of their purchase (R500) as a deposit, using their credit or debit card. Payflex then collects the other 75% in three instalments of R500 each over the next six weeks. But don't worry – you're not left waiting to be paid. Payflex will pay you for the sale upfront (less their commission). So even though your customers have a long time to pay for it in full, you will receive the money for the purchase up front.