PayJustNow says it recorded its highest monthly transaction value in July 2026.
This marked a significant milestone in the shift towards more flexible digital payment options among South African consumers such as Buy Now Pay Later (BNPL).
An economist said this may be a sign that consumers are struggling to make ends meet.
PayJustNow said that the milestone comes at a time when South Africa’s broader payments ecosystem is also undergoing significant change.
“The South African Reserve Bank (Sarb) is transitioning payment- system management functions previously performed by the Payments Association of SouthAfrica (PASA) to the Sarb and PayInc, as part of efforts to strengthen the country’s national payment system and support a safe, efficient and resilient payments environment.”
PayJustNow added that against this backdrop, the growth of flexible payment options like BNPL points to a broader evolution in how consumers interact with the payments system with digital, convenient and more flexible ways to transact becoming increasingly mainstream.
Dean Hyde, Chief Operating Officer at PayJustNow said that people are thinking much more carefully about how they want to pay and how a purchase fits into their broader monthly spending, “We’re seeing a shift in the role payments play in everyday financial decisions, particularly among younger consumers who are comfortable managing more of their financial lives digitally.”
PayJustNow said that Weaver Fintech, recently reported an 88% increase in payments revenue in its half-year results, while the payments book more than doubled.
“Weaver Fintech’s wider fintech customer base reached 4.8 million, with 835,000 customers joining during the first half of 2026.”
PayJustNow added that the customer profile is also increasingly shaped by younger consumers, with 65% of WeaverFintech’s group customers falling into the Millennial or Gen Z cohorts. Customers using two or more Weaver products also grew by 29%.
Hyde said at this scale, BNPL is no longer a niche payment option.
“It is part of how a large and growing group of South Africans chooses to pay. Our focus is on continuing to grow that adoption responsibly, while giving customers flexibility and keeping capital at risk below 2% of transaction value.”
PayJustNow added that as flexible payments become more established, the wider financial system is also evolving to provide greater visibility of consumer payment behaviour.
“The National Credit Regulator has instructed BNPL providers to begin reporting consumer payment behaviour to credit bureaus from February 2027, while many BNPL providers have already been submitting data to the South African Credit and Risk Reporting Association since April 2026.”
Hyde said that greater visibility can support a more informed and responsible payments ecosystem, while helping consumers build a credit score.
“As BNPL becomes a more established part of how South Africans pay, greater visibility of payment behaviour can help consumers, providers and the wider financial system betterunderstand financial commitments.In addition, every on-time repayment made by a PayJustNow customer will count towards building a positive credit record.”
PayJustNow said that the evolution of BNPL therefore reflects a broader change in the payments landscape:consumers are increasingly looking for flexibility, digital convenience and greater choice in how they transact, while the industry itself moves towards greater transparency and accountability.
PayJustNow added that record transaction value month is a reflection of both trends – the growing adoption of flexible payments and the emergence of payments as a significant part of South Africa’s digital financial ecosystem.
Professor Waldo Krugell a North West University Business School economist said that pay later is basically a form of credit extension but framing that as part of what you would typically see in the data as personal loans or store credit (any sort of unsecured debt) is difficult.
“I suppose the best thing to say is that the evolution of platforms like this and the concept of buy now, pay later and its growth do tell us something about households and consumers under pressure."
Krugell added that they are looking for different ways to still make ends meet and pay for it at some later stage.
"It's a brick in the wall of debt through banking channels, debt through store cards, Payday loans and using the money in the pension savings pot to make ends meet.”
yogashen.pillay@nationalmg.co.za