Zip, an Australia-based buy now pay later (BNPL) platform, announced over the weekend its plans to expand into contactless payments. Zip describes itself as an interest-free payment solution for everyday spending.
“With Zip, it’s win-win. Customers love the freedom and flexibility we offer them. Our retail partners enjoy providing the best customer experience at checkout. And to help everyone better manage their money, our award-winning Pocketbook App lets people track, budget and save.”
Zip explained it has more than five million customers and is available in both online and in-store at more than 37,000 retailers.
“We love to tackle things with a fresh and innovative approach, and we celebrate collaboration and teamwork. Every day, we inspire and motivate each other to do the things that haven’t been done before.”
Zip further revealed that by pairing contactless payment with a budget-conscious brand such as Zip, consumers get the sense that it will be geared towards their shopper interests.
“While traditionally, credit card providers profit from users not paying their bills, BNPL has built a more sustainable and adaptive model for spending that shifts the fees to merchants. Many have turned to BNPL to space out their repayment periods for online purchases and now can do the same for in-store shopping.”