Story perspectives

Kenya's LOOP Launches BNPL Service Amid South Africa's Growth

10/16/2025

Summary

Story summary

LOOP, a Kenyan fintech company, launched LOOP FLEX, a BNPL service with a 10% deposit and 12-month repayments.
Credit limits range from KES 15,000 to KES 1,000,000, broadening consumer purchase options.
In South Africa, EFT Corporation (South Africa-based payments provider) integrated Happy Pay to offer interest-free BNPL payments aligned with income patterns.
The move signals a booming BNPL market in South Africa and aims to improve payment options and inclusion.

History

Historical Context

The Buy Now, Pay Later (BNPL) market gained momentum in the early 21st century, driven by fintech innovations that integrated installment lending into online shopping. By 2019, companies like Afterpay processed over $10 billion in transactions, reflecting a growing consumer preference for flexible payment options. This trend, particularly in emerging markets like Kenya and South Africa, enhances financial inclusion and economic growth potential.

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Story summary

LOOP, a Kenyan fintech company, launched LOOP FLEX, a BNPL service with a 10% deposit and 12-month repayments.
Credit limits range from KES 15,000 to KES 1,000,000, broadening consumer purchase options.
In South Africa, EFT Corporation (South Africa-based payments provider) integrated Happy Pay to offer interest-free BNPL payments aligned with income patterns.
The move signals a booming BNPL market in South Africa and aims to improve payment options and inclusion.

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