Float
Float lets Visa and Mastercard holders split any purchase into up to 24 interest‑free, fee‑free monthly instalments using the existing credit limit on their card. The service requires no sign‑up, credit check, or paperwork, and shoppers keep earning reward points while Float assumes repayment risk and settles with merchants. Merchants can integrate Float via ecommerce plugins, QR‑code links, or in‑store checkout to boost conversion and average order value.
- Commerce & Shopping
- Financial Technology
- Software Only
Funding
Raised to date
$2.6MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Consumers with Visa or Mastercard credit cards often face high interest and fees when they want to spread large purchases over time, and traditional buy‑now‑pay‑later services may require new credit lines, applications, or charge additional costs.
Solution
Float enables shoppers to split any Visa or Mastercard purchase into up to 24 interest‑free, fee‑free monthly instalments using the existing credit limit on their card. The service works both online and in‑store, requiring no sign‑up, paperwork, or credit check, and it preserves the cardholder’s reward points. Merchants integrate Float via plugins or QR‑code links, allowing customers to select the number of instalments at checkout while Float assumes the collection risk and settles payments with the merchant.
Target Audience
Primary users are Visa and Mastercard credit‑card holders seeking interest‑free payment flexibility, and merchants (online and brick‑and‑mortar) looking to increase conversion and average order value by offering a frictionless, fee‑free instalment option.
Features
- Card‑linked instalment financing that leverages the shopper’s existing Visa or Mastercard credit limit
- Zero interest, zero fees, and no late‑payment penalties for the shopper
- No application, credit check, or additional sign‑up process; reward points continue to accrue
- Flexible instalment terms ranging from 2 to 24 months, configurable per merchant
- Seamless integration options: ecommerce plugins, QR‑code checkout, and omnichannel links for in‑store or invoice sales
- PCI DSS Level 1 compliant processing with 3D Secure authentication and POPIA‑compliant data handling
- Merchant risk protection: Float collects repayments and guarantees settlement to the merchant