Fintech in South Africa is more than just a tale of innovation; it’s a robust narrative of empowerment and transformation. As the African continent faces the ongoing challenges of limited access to traditional banking services – a significant portion of the population is unbanked – fintech innovation has become a beacon of hope, paving the way for financial inclusion and driving economic growth.

• LayUp Technologies empowers both online and in-store businesses with cutting-edge recurring payment technology. Partnering with LayUp opens avenues to scale your business through innovative payment methods, driving market growth and boosting sales.

LayUp Technologies has partnered with Dashpay to expand its reach and grow traction in the in-store retail market. This collaboration is set to offer retailers ease and convenience to businesses and consumers. Through innovative value-added services and a digital lay-by app, LayUp and Dashpay simplify the point-of-sale (POS) experience in brick-and-mortar stores and provide nuanced value to participating merchants.

A seamless, rapid go-to-market solution

LayUp’s dashboard is designed to be easy to use, eliminating the need for cumbersome admin and space-thieving paperwork. With this solution, consumers can set up recurring payments effortlessly, all within a centralised system. This streamlined process means that retailers can go to market rapidly, offering their customers a straightforward payment experience.

These are some of the features:

• The app allows retailers to sign customers up digitally in a matter of seconds. Through pre-configured lay-by terms, the cashier simply inserts the order value and reference to confirm the payment plan.
• The customer has multiple payment methods to choose from, such as tap on card, DebiCheck and cash payments.
• The system automatically triggers communication to both the retailer and customer, providing a detailed breakdown via print and SMS.
• LayUp has enhanced the lay-by process, enabling customers to make payments digitally from anywhere, without needing to visit the store.

This process drastically improves the efficiencies for retailers, streamlines administrative processes and improves the customer experience.

Our collaboration with LayUp is a significant step forward in providing value-added services to the retail market by leveraging the Android POS platform.  – Benjamin Powell, MD, Dashpay

Benjamin Powell, MD of Dashpay, shares his insights on the partnership: “Our collaboration with LayUp is a significant step forward in providing value-added services to the retail market by leveraging the Android POS platform. This allows retailers to use traditional POS devices for much more than only accepting cards. We believe the LayUp solution adds significant value to retailers accepting lay-bys.”

Standalone terminal deployment

One of the bespoke features of this partnership is the deployment of the Newland Terminal N910 Pro. This standalone terminal requires no integration costs or lengthy delays, allowing retailers to implement the solution swiftly and start benefiting immediately. This hassle-free deployment is a gamechanger for in-store retail, enabling businesses to offer flexible lay-by options without technological barriers.

Steering expansion with value-added services

Today’s retail environment is challenging from almost any perspective. That’s why LayUp’s partnership with Dashpay enhances the value proposition for retailers through a suite of value-added services. These include:

• Customisable payment plans: Retailers can offer flexible payment plans tailored to their customers’ needs, enhancing customer satisfaction and loyalty.
• Automated reminders and updates: Keep customers informed and engaged with automated notifications, ensuring they are always aware of their payment status.
• Comprehensive reporting and analytics: Gain valuable insights into sales and payment trends with detailed reports and analytics.

Growing traction with leading retailers

The LayUp and Dashpay partnership is already making waves in the retail market, with leading brands such as Pick n Pay, Stutt Group, Core Group and Cellucity on board. These partnerships highlight the growing traction and confidence in innovative payment solutions. Retailers are recognising the benefits of offering a digital lay-by option that is not only convenient but also highly efficient.

(Originally published on TechCentral.)