What is Payflex?
Payflex is a Buy Now, Pay Later (BNPL) service, available to eligible Yoco merchants as an online checkout option, that lets customers pay for their purchase in interest-free instalments.
Pay in 2: Your customer splits their purchase into two equal, interest-free payments. The first 50% is paid at checkout, with the remaining payment being automatically deducted the following payday.
Pay in 3: Your customer splits their purchase into three equal, interest-free payments over three months. The first 33.33% is paid at checkout, with the remaining two payments being automatically deducted monthly.
Pay in 4: Your customer splits their purchase into four equal, interest-free payments over six weeks. The first 25% is paid at checkout, with the remaining three payments being automatically deducted every two weeks.
Payflex gives your customers more flexibility at checkout, making it easier for them to say yes. This can help increase conversion, reduce cart abandonment, and grow your average basket size. For more visit payflex.co.za
💰 How do you get paid? You get the full amount (minus fees) upfront – you don't wait for your customer to finish paying their instalments. Payflex settlements are paid into your bank account in line with your normal Yoco settlement schedule and show up with your card settlements, so there's nothing extra to reconcile.
✨ New to Yoco's online payments? Set up your online store first. Here's how to get started.
How does Payflex work?
To offer Payflex, your business needs to meet certain eligibility criteria set by Yoco. These criteria are assessed automatically, no action is requirement on your part.
If your business meets the criteria, Payflex will appear in the BNPL section of your Payment methods page in the Yoco App (mobile or web). If you don't see it there, your business doesn't currently meet the criteria.
✨ Eligibility criteria can change over time, so keep checking – an option that isn't available now, may become available later.
If you qualify for Payflex, you can apply for it as a payment method in the Yoco App (mobile or web) and it will automatically appear at your online checkout – no extra setup required.
Payflex fees
Payflex fees are charged over and above your Yoco online payment fees, which are determined by the Yoco Plan you're on.
Payflex fees can be found here.
💡 Good to know: Payflex is available for Yoco's online payment methods only. It doesn't apply to in-person card machine payments.
Applying for Payflex as a payment method
Select the Business settings tab near the bottom of the menu (web app) or your business name in the top right corner of your screen (mobile app).
Select the Payment methods tile/widget.
Select the Edit button next to the Online Checkout heading.
Select the Manage providers tile/widget under the Buy Now Pay Later heading.
If your business is eligible for BNPL services, the options will be visible on your screen. Select the Payflex tile.
When the dropdown opens up, select the Apply button.
Read through the information sheet, then select the Apply for Payflex button. Please note that by selecting this button, you’re agreeing to Payflex’s Terms & Conditions.
Check the box to confirm that you agree to Payflex conducting a credit check, then select the Apply button.
A confirmation message will appear once your application has been submitted.
As soon as your application has been approved, Payflex will appear as a payment method above the Manage providers screen. If your application is rejected, Payflex will not appear as a payment method.
💡 Good to know: The outcome of your Payflex application will be communicated in the Yoco App (mobile or web) and via email – this can take up to 14 days.
✨ Your customers will deal directly with PayFlex for their instalment plan. Any questions they have about repayments, due dates, or their instalment schedule should be directed to Payflex.
Disabling Payflex as a payment method
Go to your Business settings by selecting your business name in the top right corner of your screen (mobile app) or by choosing the Business settings tab near the bottom of the menu (web app).
Select the Payment methods tile/widget.
Select the Edit button next to the Online Checkout heading.
Toggle the Payflex switch to the 'off' position.
Payflex will immediately be removed from your online checkout.
Viewing your Payflex transactions
You can view your Payflex sales in your Sales history with all your other online payments.
Go to the Sales tab.
Select the Sales history tile/widget.
Select any Payflex transaction to view the sale details.
Communicating with your customers
Payflex only works for you if your customers know about it. Here's the messaging and FAQs you need to get it in front of them.
Key messaging
Customers are more likely to use Payflex when they understand exactly how it works. Try to cover these key points on your product page, at checkout, and on social media:
Payflex splits your purchase into two, three, or four interest-free instalments.
Pay the first instalment at checkout, the remaining instalments are collected automatically from your card.
Your order is sent as soon as your payment goes through.
Payflex approves you in real time at checkout – if you aren’t approved, you can still pay by card.
Payflex manages your instalment plan – please contact them directly for anything repayment-related.
Example messaging: Pay in interest-free instalments with Payflex. Choose Payflex at checkout, pay part of the total now and the rest later, and we'll send your order right away.
⭐ Top tip: Payflex is available on your online checkout only, so keep your messaging focused on your online store rather than in-person sales.
Customer FAQs
We've prepared answers to your customers' most common questions, ready for you to use.
What is Payflex and how do I pay with it? Payflex lets you split your purchase into interest-free instalments instead of paying everything upfront. Select Payflex at checkout, sign in or create an account, and pay your first instalment. The rest is collected automatically from your card on the dates Payflex shows you.
Does using Payflex cost me anything extra? Payflex doesn't charge you interest, and the price of your order stays the same. Payflex may charge a fee if an instalment payment is missed, so it's worth checking the terms Payflex shows you before you confirm.
What if I'm not approved? Payflex makes that call at checkout based on its own assessment; it's not something we decide or can influence. If you're not approved, you can still complete your purchase with a normal card payment.
💬 FAQs
What happens if my customer doesn't pay their instalments? This doesn't affect you. Once a Payflex transaction is completed at your checkout, you receive your settlement from Yoco regardless of whether the customer completes their remaining instalment payments. Payflex carries the credit risk and manages all collections from the consumer directly. You are never liable for a customer's missed payments.
What happens with refunds? If you need to refund a Payflex transaction, you process the refund through your normal Yoco refund flow. The refund is communicated to Payflex automatically, and any remaining instalments the customer owes are adjusted accordingly. The refund amount is deducted from your next settlement, just like a standard card refund.
Are there minimum or maximum order values? Payflex sets its own minimum and maximum purchase amounts for consumers. Generally, Payflex supports purchases from R50 up to R20,000, though the limit for each consumer depends on their individual credit assessment. There's no minimum or maximum transaction value that you need to configure on your side – Payflex handles this automatically based on the customer's profile.
Which of my customers can use Payflex? Any of your online customers can choose Payflex at checkout. Payflex will run a quick credit check as part of the customer's application. If approved, the customer can proceed with the instalment payment. If not approved, they can still complete their purchase using a standard card payment. The approval decision is made by Payflex in real time and is based on the customer's credit profile – it's not something you need to manage.
Can I turn Payflex off after enabling it? Yes, you can toggle Payflex on or off at any time from the Payment methods page in your Yoco App. Toggling it off removes Payflex as a payment option from your online checkout. Any existing Payflex transactions that are already in progress (where a customer is paying instalments) are unaffected – they continue as normal. You can toggle it back on whenever you're ready.
Does enabling Payflex affect my existing checkout or card payments? No, enabling Payflex adds it as an additional payment option at your online checkout. Your existing card payment flow remains exactly the same. Customers who don't want to use Payflex simply continue paying by card as usual. There's no change to your card processing fees, settlement schedule, or checkout experience for non-BNPL transactions.
Who do I contact if I have a problem with Payflex? For any issues with enabling or managing Payflex in your Yoco App, contact Yoco Support via our in-app chat. If a customer has a question about their Payflex instalments, repayment schedule, or account, they should contact Payflex directly – Payflex manages the consumer relationship and all instalment-related queries.
Need more help?
Start a conversation with a Yoco Support consultant via our in-app chat.