MoreTyme, the innovative Buy Now, Pay Later (BNPL) service by TymeBank, continues to evolve and expand its offerings in 2024. This service has become an integral part of South African retail, offering flexible payment options for a wide range of products. Here’s an update on MoreTyme’s features and services as of 2024.
MoreTyme, initially used primarily at The Foschini Group (TFG) stores, has significantly expanded its reach. Now, it’s accepted in a more extensive network of stores, including but not limited to Jet, Exact, Pick n Pay, @home, Markham, American Swiss, Foschini, Galaxy Co, and many more.
The service allows customers to make purchases and pay in three installments. At the time of purchase, customers pay a third of the item’s value, with the remaining amount spread over two more installments due within the following two months, interest-free.
To access MoreTyme, customers need to be TymeBank account holders. The application process for a TymeBank account is straightforward and can be done online or via the TymeBank mobile app. Once a customer is registered with TymeBank, they can activate the MoreTyme payment option directly in the app
.For online purchases, MoreTyme is accessible through the TymeBank app’s MoreTyme section. In physical stores, customers can use MoreTyme by scanning a QR code at the checkout.
A notable development in 2024 is MoreTyme’s integration with PayFast, a popular payment gateway. This integration allows businesses using PayFast to offer their customers the option to pay with MoreTyme, dividing their payment into three interest-free installments over two months. The merchant receives full payment upfront, while customers enjoy the flexibility of staggered payments.
MoreTyme by TymeBank continues to offer a compelling Buy Now, Pay Later option for South African consumers, combining the convenience of staggered payments with the simplicity of a digital platform. Its expansion to a broader range of retail outlets and integration with PayFast makes it an even more attractive option for both consumers and merchants. However, users should be mindful of the need to manage their spending responsibly to avoid late payment fees.
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