Zip
Zip is a global Buy Now Pay Later (BNPL) company with operations in Australia, New Zealand and the United States. The Zip digital wallet has two types of interest-free accounts, Zip Pay and Zip Money, providing reusable amounts from $250 up to $30,000 respectively. Zip Plus, on the other hand, offers credit limits from $2,000 to $4,000, with an interest rate of 12.95%p.a. Zip Pay in 4 allows the consumer to split nearly any purchase into 4 installments over 6 weeks.
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Get in touchWhy Zip
With a user share of 21%, Zip Pay is one of the top 5 online payment services in Australia (Statista); with more than three million consumers across Australia and New Zealand.
The total annualized revenue sits at USD $309M+ in 2023. This is made up of their 6M+ US consumer and 24K Merchant base. The AOV is $122.
Zip uniquely serves customers with low to mid-range FICO scores. 86% of their US customers are under a FICO score of 670. This is the group where getting attractive financing rates could be challenging.
Specifications
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Features
How it works
At checkout, the consumer selects Zip as their preferred payment method
The consumer logs into their Zip account
The consumer selects whether they want to pay via Zip Pay or Zip Money
The consumer enters the veri cation code received on their mobile
The payment is con firmed and the consumer is redirected back to the merchant