Zip - What is all the fuss about?
With current hype around Zip / Zip.co (February 2021) we thought we should run a short article on what Zip is and how you, an individual or as a business, can benefit from using it. With over 2 million Australian an New Zeland customers, they must be doing something right.
What is Zip?
In short, Zip Pay is a buy now – pay later service. Directly from their FAQ, Zip claim:“You can shop any online store, anywhere in the world today and pay later with Zip. ”
What Services do they offer?
Zip Pay offer two services:
Zip Pay (up to $1000) &
Zip Money (up to $3000 for personal accounts and up to $50000 for merchants)
How does it work? (as per the Zip website)
Sign up for an account HERE.
Buy something online with Zip, or at a retailer with Zip payment and don’t pay anything “today”.
Choose repayment schedule, interest-free with $0 fees if no outstanding balance.
FEES: These are the two plans they currently offer and the fees associated with them. Please note that other fees may apply so please check the website for full terms and conditions.
As our primary focus is the small-medium business space, it is important to understand how Zip can help your business grow.
Zip offers a range of products for business. These include Zip Business Payments, Zip Business Trade and Zip Business Capital.
Zip Business Payments – The flexible way for your customers to pay.
Provide your customers with the option to pay you with their Zip accounts Zip claim that their partners have experienced an increase in sales, their partners get paid daily, Zero risk and transparent pricing.
Find more information here: https://zip.co/business/payments/
Zip Business Trade – Buy now, pay later for your business needs.
With up to $3000 available interest-free, flexible repayment options and one account for all your transactions.Zip boast a $200 minimum monthly repayment with no interest ever. (check link below for full terms and conditions) Find out more: https://zip.co/business/trade
Zip Business Capital – Up to $500k to help grow your business.
Zip claim unsecured business loans, flexible repayments for up to 3 years and only pay interest on what you owe.
More information and application: https://zip.co/business/capital
The ability for your customers to pay you with zero risks to your business provides flexibility to your customers and becomes quite enticing for any business. Especially with claims of daily payments to your business, then the pros seem to be plentiful.
Only time will tell if all the hype surrounding Zip will lead to benefit to both consumers and businesses alike. For complete information and further details please visit zip.co
Disclosure: All information interpreted at the time of publishing. Source: Zip.co . We were not paid to run this article, however, we do have an interest in the company and follow it closely.