MoreTyme: buy now pay later review 2024

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’s Expansion and Features

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​​.

Application and Use

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​​.

Integration with PayFast

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​​.

Advantages and Disadvantages

Advantages

  1. Flexibility in Payments: MoreTyme allows customers to split their purchase cost into three manageable installments.
  2. Interest-Free: Unlike traditional credit card purchases, MoreTyme does not charge interest.
  3. No Additional Fees: There are no extra fees for using MoreTyme, provided installments are paid on time.
  4. Ease of Use: The TymeBank app is user-friendly, making it easy to activate and use MoreTyme.
  5. Wider Acceptance: The expanded network of partner stores makes MoreTyme a versatile payment option.

Disadvantages

  1. Initial Payment: A third of the purchase price must be paid upfront, which can be a limitation for some customers.
  2. Penalty for Late Payments: If installments are not paid on time, customers face a default penalty fee and additional weekly charges​​.

List of stores that accept TymeBank MoreTyme Buy Now, Pay Later 

  • Pick n Pay Clothing, 
  • Jet, 
  • Exact, 
  • The Fix, 
  • @home,
  • Archive,
  • American Swiss, 
  • Foschini, 
  • Galaxy & Co, 
  • Markham, 
  • Relay Jean’s, 
  • Renegade Fashion Outlet, 
  • Sneaker Factory, 
  • Sportscene Sterns, 
  • Totalsports, 
  • The Cross Trainer, 
  • Cellucity, 
  • Pick n Pay, 
  • Guess, 
  • Aldo, 
  • Pringle, 
  • Supa Quick, 
  • Mr. Tekkie, 
  • Call It Spring, 
  • Frasers, 
  • XKids, 
  • We Fix, 
  • Dynamic Vision Optometrists
  • NWJ Jewellery, 
  • SPCC, 
  • ElevenPast, 
  • Raru, 
  • Subwear, 
  • Epic Deals, 
  • NetDecor, 
  • Discount Decor, 
  • Racketlon SA, 
  • Canine & Co, 
  • Hydroponic.co.za,
  • Dermal Health, 
  • Ace sports Distribution, 
  • Cape Coffee Beans, 
  • Delbro, 
  • Green & Richard’s, 
  • Polly Wog, 
  • Cape Union Mart, 
  • Old Khaki, 
  • Poetry, 
  • Tread + Miller, 
  • Dodo’s, 
  • Franco Ceccato, 
  • Car Service City, and 
  • JAM

Conclusion 

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.