More Payment Methods

ZIP

Buy Now, Pay Later

Zip is a global Buy Now Pay Later (BNPL) company with operations in 12 countries, founded in Australia, its primary market today. One of the top 5 online payment services in Australia, Zip offers two account-based products with different credit limits - Zip Pay (everyday purchases) and Zip Money (large purchases). Zip gives consumers the freedom to choose when they pay, whether it is instant, weekly, fortnightly, or monthly. Zip Pay is an interest-free BNPL service with a credit limit of up to AUD 1000. Zip Money is a line of credit offering consumers a guaranteed interest-free period of 3 months across all products and up to 36 months with some merchants.

ZIP

Features

  • Coverage Area
    Customer
    Australia
    Merchant
    Global
  • Channel
    Online
  • Currency
    Consumer Currency
    AUD
    Processing Currency
    AUD
    Settlement Currency
    AUD
  • Transaction
    Minimum Limit
    AUD 0.01
    Maximum Limit
    Zip Pay: AUD 1000, Zip Money: AUD 50,000 These approved credit limits depend on the user's eligibility.
    Payment Timeout
    168 hours 20 minutes
  • Feature
    Scheduled Payment
    no
    One-click Payment
    yes
    Refunds
    yes
    Partial Refunds
    yes
    Multiple Partial Refunds
    yes
    Payment Guarantee
    yes
    Refund Risk
    yes

Why ChooseZIP？

  • In 2022, the volume of transactions processed by Zip, on both payment methods, increased by 51% to a value of AUD 8.7 billion: and the number of participating merchants by 77% to over 90,000.

    In 2022, the volume of transactions processed by Zip, on both payment methods, increased by 51% to a value of AUD 8.7 billion: and the number of participating merchants by 77% to over 90,000.

  • Zip reports their merchants see a 10-40% increase in basket size and a 10-25% increase in conversion rate after adding Zip.

    Zip reports their merchants see a 10-40% increase in basket size and a 10-25% increase in conversion rate after adding Zip.

  • More than 11 million people now use Zip payment products, an increase of 56% in just one year.

    More than 11 million people now use Zip payment products, an increase of 56% in just one year.

How It Works?

  • At checkout, the consumer selects Zip as their preferred payment method.
    Merchant

    01

    At checkout, the consumer selects Zip as their preferred payment method.

  • The consumer logs into their Zip account.
    Payment Methods

    02

    The consumer logs into their Zip account.

  • The consumer selects whether they want to pay via Zip Pay or Zip Money.
    Payment Methods

    03

    The consumer selects whether they want to pay via Zip Pay or Zip Money.

  • The consumer enters the verification code received on their mobile.
    Payment Methods

    04

    The consumer enters the verification code received on their mobile.

  • The payment is confirmed and the consumer is redirected back to the merchant.
    Merchant

    05

    The payment is confirmed and the consumer is redirected back to the merchant.

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