South African Fintech Float Enters UK Market with Credit Card Installments

The platform, which has operated in South Africa since 2021, integrates with over 55 million UK credit cards. It enables merchants to offer up to 12 interest and fee-free monthly installments without requiring shoppers to download new applications or undergo fresh credit checks. According to Founder and CEO Alex Forsyth-Thompson, the service addresses a common retail friction: the need for larger basket sizes and higher conversion rates without pushing customers into debt cycles or requiring them to take on additional loans.

Float differentiates itself from standard buy now pay later providers by utilizing the credit already available to the consumer. Because the transaction occurs on an existing bank-issued card, users retain their standard rewards, miles, and consumer protections. For merchants, the technology provides a way to offer flexible payment terms without the complexities associated with new credit facilities. The company, which currently supports over 2,000 stores including brands such as Samsung and The North Face, views this UK expansion as the initial stage in its broader mission to reshape global credit usage.