TymeBank and The Foschini Group announce groundbreaking partnership

Patrice Motsepe's Tyme Bank has launched an industry-first partnership with The Foschini Group

To this end, customers can now open a TymeBank TFG Money account at more than 600 dedicated branded TymeBank TFG Money kiosks at TFG stores that include Foschini, Markham and Sportscene.

The three offerings that are linked to this partnership are Buy-Now-Pay-Later, also known as MoreTyme; theTymeBank TFG Money account and the TFG personal loan, which is launching soon.

MoreTyme in particular is a three-month interest-free instalment payments scheme that has no fees over the three months.

Users of the service will also be able to settle electricity payments.

We are very excited to be launching our new partnership with @TFGZA! Our customers will be able to https://t.co/Wffb8OtbV8 Rewarded at over 600 TFG stores near you. #TymeBankxTFG pic.twitter.com/F0A5xmSFTA

— TymeBank (@tymebankza) January 25, 2023

TymeBank will now have exposure to more than 28 million TFG loyalty programme members.

TymeBank is majority owned by Patrice Motsepe's African Rainbow Capital. Recent investors include Tencent, an internet and technology company based in China and CDC Group, the UK's development finance institution and impact investor.

Others include UK based Apis Growth Fund II, a fintech private equity fund based in the UK, JG Summit Holdings (JG Summit) a Philippines=based conglomerate owned by the Gokongwei family, African Fig Tree (AFT), a ring-fenced vehicle established by the founders along with key individuals, and the Ethos AI Fund.

TymeBank is a member of the Tyme group of companies with headquarters in Singapore.