PayJustNow Owner Faces Bad Debt Risk and DebiCheck Payment Friction
South Africa · FINANCE Key Facts —Ownership structure: Weaver Fintech, the Mauritian subsidiary of HomeChoice International, acquired an 85 percent stake in PayJustNow in 2022. —User scale: PayJustNow reported 2.5 million users in March 2025 and was adding 100,000 customers a month, according to Disrupt Africa. —Default performance: PayJustNow told ITWeb it maintained a default […] The post…
Weaver Fintech, the Mauritian arm of HomeChoice International, acquired a 85 percent stake in PayJustNow, a South African buy now, pay later platform, in 2022. By March 2025, the company had 2.5 million users, with an additional 100,000 customers added each month, according to Disrupt Africa. PayJustNow has maintained a default rate below 2 percent of gross merchandise value since its inception, according to the company.
DebiCheck, a South African debit mandate authentication system, was launched in August 2018, replacing older debit order systems on November 1, 2021. The system aims to verify consumer debit mandates upfront and curb unauthorized debit-order abuse, as designed by the South African Reserve Bank. However, DebiCheck has introduced administrative friction, slowed onboarding, and reduced collection success for businesses, particularly when customers lack funds on the debit day.
Despite its rapid growth, PayJustNow is now facing challenges in collections due to the stricter rules enforced by DebiCheck.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
