Author: LayUp Technologies

Credit, hailed by the National Credit Act as “a cornerstone of modern capitalism,” is vital for economic growth and commercial activity. However, in South Africa, the irresponsible use of credit has created a challenging cycle of debt, allowing people to spend beyond their means and use credit for everyday purchases. To address this issue, innovative start-ups like LayUp offer alternatives, such as the lay-by payment plan, to help individuals avoid the pitfalls of over-indebtedness and manage their finances more responsibly. Credit crunch: South Africans battle instant gratification Since the 1990s, South Africans (both in and out of work) have been…

The Evolution of Money and Payment Systems Over centuries, our perception of money and value has seen many transformations, influenced by technological advancements and societal changes. For example, the Internet and digital technology have made financial transactions more accessible, increasing the volume and ease of paying and receiving funds. As a result, new payment ecosystems are emerging globally, aiming to address the needs of the underbanked and transition economies from cash to digital payments. Financial inclusion remains a crucial goal in this milieu, particularly in Africa, where many individuals are underbanked. This means they may have bank accounts but aren’t…