Openpay vs ZipMoney

Interest-free doesn’t mean cost-free, watch out for upfront and ongoing fees.

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Interest-free shopping has come a long way since shop assistants just wrote your name and phone number on a slip of paper for a layby. Now, interest-free payment platforms let you sign up in a matter of minutes and offer you a range of plans to suit a variety of purchases.

To help you decide which platform could be right for you, we've compared two prominent interest-free platforms – zipMoney and Openpay – on this page. Remember to consider all of the costs, features and flexibility to narrow down which interest-free provider may be the best option for you.

Interest-free periodFull repayment term3 months minimum
Repayment termVarious plans available (e.g. 6, 12, 18 months)Up to 36 months
Upfront and ongoing fees
  • Processing fee of $2.50–$3.95 for long-term plans
  • Establishment fee may apply for Open Plus plans
  • $6 monthly service fee when you have an outstanding balance (this fee is $0 when you have no balance)
  • No establishment fee for $1,000 credit limits; $25 establishment fee for credit limits of $2,000; $80 establishment fee for credit limits of $3,000
Late payment feesLate fees apply
  • $15 for late payments
  • Other fees and charges may apply for dishonoured payments
  • After the initial interest-free period a variable rate will apply to your outstanding balance
Payment flexibility
  • You choose your own plan
  • You can reschedule to avoid late fees
  • Minimum repayment of $40 for credit limits up to $2,000 and minimum repayment of $80 for credit limits of $3,000. As long as you stick to these minimum payments you can pay how you choose.
  • You can change the frequency of your payments or your payment schedule in your account
SignupCan be done online or in-store at participating merchantsYou can apply directly through zipMoney or online or in-store at a participating zipMoney merchant
Find out moreRead the full reviewRead the full review
  • Over 18
  • Have a valid Australian or New Zealand ID
  • Provide an email address and two contact numbers
  • Have a Visa or Mastercard debit or credit card
  • Australian resident
  • Over 18
  • Employed
  • Earn more than $300 per week
  • Have an individual email address and mobile phone number
Credit scoreOpenpay may ask your consent to check your credit file and will report negative activity to credit providers.zipMoney will check your credit report when you apply and reserves the right to report negative activity to a credit reporting body.
AvailabilityFull Openpay store listFull zipMoney store list

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