For shoppers

LayUp Logo - Light
diverse payment methods

Why LayUp is committed to offering alternative  payment methods?

While I was getting ready for a conference call last night, I gazed at my rolled-up tube of toothpaste posing on the bathroom counter, and my eyes rolled over the brand -Colgate Triple Action- I thought about how consumer behaviour toward toothpaste has changed. 

Remember when toothpaste was simply there to clean your teeth and prevent cavities? However, today toothpaste has changed into a triple-action solution.  It whitens, brightens, freshens breath, lights plaque, fights cavities, and controls tartar build-up or tastes like mint or bubblegum. 

Gaming operators are starting to move in the same customer acquisition direction. Many operators are looking to offer the whole gaming product mix as opposed to one game to stay competitive. Likewise, payment gateways which predominantly used credit card rails, are now offering other forms of online payment methods to increase their revenue and satisfy their customers. 

At LayUp, we believe that those that differentiate themselves are going to win market share whilst companies that stick to offering one type of payment will stay behind. South African consumer behaviour is influenced by a wide range of factors and that has a direct impact on how different classes of people utilize and access payments. 

Research demonstrates that middle-class people often prefer credit or debit cards whilst the lower income earners prefer using cash as a means to transact. However, payment methods such as mobile money, digital wallets, and recurring payment systems  are gaining momentum. 

9 out of 10 people have a bank card in South Africa but 4 out of 10 cards remain dormant and unused.  Businesses need to transition millions of customers online,  provide high value for customers and simultaneously offer familiar and convenient payment methods to see a positive change in their bottom line. 

Consumers and merchants are driving the alternative payment option market as they search for new ways to pay and get paid. For both, the alternative payment offers convenience, flexibility, and security. These values have become non-negotiable for us as a team at LayUp. Payments must be flexible, secure, and convenient for customers and merchants. 

Merchants are finding that offering alternative payment options can lower their overall transaction costs, increase conversions, and create new revenue streams while reducing chargebacks and fraudulent activity. 

Transaction costs have always been an issue for merchants and users. New forms of payment provide an opportunity to disrupt the credit card industry. At LayUp, we recognize that financial freedom is only possible when low fees and high values match. We have invested a lot of time in improving our user experience ( for customers and merchants ) on our LayUp payments app.  We further offer it to in-store SMME business for FREE to download. This ensures that our commitment to financial inclusion is realized.

LayUp has  integrated financial freedom into the financial inclusion discussion. Why? It makes sense for us to create a purpose-driven sustainable business that provides shoppers with the latest secured recurring payment methods in the market. LayUp works well for businesses that offer online and/or offline laybys, subscriptions and recurring payments.. 

Consumers want the merchant to accept the payment method that they want to use. We know that different demographics tend to gravitate toward differing payment options. And while alternative payment methods certainly appeal to the under-banked and unbanked for obvious reasons, all consumers, including those that hold credit cards, are adopting convenient and alternative payment methods because of the current economic climate.

Different types of payment methods offered by LayUp

  1. Debit or credit cards:  LayUp’s platform makes it easy for your business to collect and manage recurring payments. We accept debit or credit card payments and we collect in a recurring fashion. We do this through card tokenization. Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no extrinsic or exploitable meaning or value. The token is a reference (i.e. identifier) that maps back to the sensitive data through a tokenization system. The tokenization system must be secured and validated using security best practices applicable to sensitive data protection, secure storage, audit, authentication, and authorization. 
  2. Instant Electronic Funds Transfer ( EFT): An instant EFT is an electronic immediate payment made through the customers bank account. When a customer checks out using instant EFT, LayUp provides timely reminders each month for the customer to login into their custom dashboard and instantly make an EFT payment with one click of the button. 
  3. Debicheck:  Most South Africans agree that debit orders are a convenient way to pay their accounts on a recurring basis. However, over the past number of years, debit order abuse has become a major issue in South Africa. Some companies have been processing invalid debit orders to consumer bank accounts without the consumer’s consent, and some consumers have avoided paying their debit orders that are valid by unfairly questioning and reversing these debit orders with their banks. As a result, Debicheck was introduced through the banks. A DebiCheck mandate is an electronic  confirmation  by the consumer, with their bank or service provider, on a once-off basis that instructs the 3rd party to collect an agreed set amount from the customer’s bank account. The electronic mandate removes the inconvenience of disputed debit orders which significantly increases the ability to collect on a recurring basis from end-customers. 
  4. Cash.  Cash is still king in emerging markets. South Africa has a high proportion of banked adults but cash still accounts for over 50% of the total value of all consumer transactions. While digital payment innovation is taking place at an unprecedented speed with significant benefits for consumers, cash remains sticky and the preferred payment method in South Africa. Consumers that still prefer to use cash, can physically walk into the store and use layUp via cash payments. In time LayUp plans to create cash acceptance points across South Africa making it easier for customers to pay their installments without the hassle of returning to store.

Future payment methods:

As we develop and grow to enable  more businesses to be able to tap into new markets and increase sales, we are  always looking to add new payment methods.

  • Pay@ – Pay@ is one of Southern Africa’s leading Cash voucher payment providers and is trusted by prominent South African organisations to optimise their billing and payment processes. By integrating with Pay@ we will be able to offer customers a cash alternative payment option for online and in-store customers. . 
  • Flash Kiosk -At a Flash Shop you can safely, and easily pay via  cash payments towards your LayUp Order. This will immediately update the customers payment record as well as notify the merchant. We are super excited about integrating with Flash in the coming months. 
  • Stitch – Stitch is an API infrastructure, businesses in Africa have developed linkpay, a feature that allows you to store your instant EFT payment information  for a faster and more convenient way to pay recurringly.


1.T. Hills. (2013) Alternative Payment Methods. Available at Accessed 2022/09/21 

2. Kantar Republic (2021) A study on new digital payment methods. Available at Accessed 2022/09/21 

3. Author Unknown (2022) The potential of mobile money in South Africa. Available at Accessed 2022/09/21 

4. Author Unknown (2022) What is Debi Check? Available at Accessed 2022/09/21 5.Author Unknown (202o) South African Reserve Bank on instant EFT online payments. Available at Accessed 2022/09/21

Blog Categories

Related content

Budgeting – A Nine-Step Guide to...

By following this step-by-step guide, you can take control of your finances and work toward...

LayUp’s Pre-Order System: How to Secure...

Pre-ordering has become increasingly popular, offering consumers the opportunity to secure highly anticipated items before...

Expect a big drop in living...

The World Bank has published its Global Economic Prospects report, detailing how the Covid-19 pandemic...

LayUp newsletter

Join the LayUp community

Be the first to hear about our news, new products and more

Subscriptions Automated Payment Collections

Register as a merchant

Add your details below and sign up. Once complete,
you’ll receive an email with a link to create your account.

What LayUp product are you interested in?
What eCommerce platform are you using?
Where did you hear about us?

We use cookies

Cookies help us deliver the best experience on our website. By using our website, you agree to the use of cookies. Find out how we use cookies.