Pick n Pay lets shoppers buy smartphones and TVs on credit

Pick n Pay has announced the launch of a buy-now-pay-later service called PayJustNow at its hypermarket stores that lets customers buy appliances, cellphones, and clothing on credit.

“PayJustNow empowers customers to split payments into three convenient instalments – through a completely digital application process – which is free of fees and interest,” Pick n Pay stated.

The retailer described PayJustNow as one of the fastest-growing buy-now-pay-later providers in South Africa.

Pick n Pay said the repayment service will be available on high-ticket non-food items such as electronics, home appliances, and mobile devices.

“It will also extend this service to its rapidly expanding and successful clothing division,” Pick n Pay stated.

PayJustNow will be on items displaying the company’s logo in-store.

These items will have a QR code that shoppers must scan with the PayJustNow app.

“The application process takes less than 10 minutes to approve,” said Pick n Pay.

“Qualifying customers will receive a unique WiCode generated by the PayJustNow app, enabling them to purchase the item(s) at the Pick n Pay checkout within 15 minutes.”

Customers will pay 34% of the total payment upfront, with the remaining two payments of 33% each aligned with their subsequent salary dates.

The launch of PayJustNow complements Pick n Pay’s existing Mobicred offering that launched in July 2023.

Pick n Pay said Mobicred gives customers access to revolving credit within 15 minutes.

“Since this launch, we have seen a 70% week-on-week growth from Mobicred customers shopping at Pick n Pay with customers shopping general merchandise items, such as large appliances, and within our mobile department,” said Moodley.

In addition to PayJustNow and Mobicred, Pick n Pay offers TymeBank’s MoreTyme to help customers manage their spending.

To cater for customers who want to finance various large-ticket items, such as high-end TVs and refrigerators, the retailer has also recently introduced RCS Finance.

This offers a loan of up to R250,000 with up to 60-month repayment terms for purchases on a large, single transaction.