Retailer guide to zipMoney and zipPay

zipMoney and zipPay are platforms that can help you increase sales by giving customers another way to pay.

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It’s easier than ever to get those tricky customer conversions when your business offers an interest-free layby service such as zipMoney or zipPay. Both options allow customers to pay off the item that they’ve purchased in instalments, which results in more sales for your business.

How does zipMoney and zipPay work for retailers?

You have to sign up with zipMoney or zipPay in order for your customers to take advantage of the service. However, signing up is easy. Simply fill out the online form by entering your business and personal details. After you complete the form, a customer service representative will contact you to ensure that everything ran smoothly. zipMoney works in-store and online, which ensures that no matter where your customers shop, they can benefit from your products and the convenience offered with zipMoney.

As a merchant, you get paid for each zipPay and zipMoney transaction at 4pm AEST each day for transactions that have been processed that day. As Zip owns both zipMoney and zipPay, it makes sense that the payments for merchants would be at the same time across both platforms.

How does zipMoney and zipPay integrate with my point of sale?

zipMoney integrates with a variety of point of sales (POS) and e-commerce platforms. If you have the following platforms, your POS can integrate with zipPay:

  • Shopify
  • WooCommerce
  • Magento
  • BigCommerce
  • Neto
  • RetailExpress
  • Magenta Retail
  • Island Pacific
  • Future Business Systems
  • Gumnut Systems
  • RetailEdge
  • Retail Directions
  • IT Visions

Although there are fewer options available than other layby services, both zipMoney and zipPay are willing to work with you if you do not have these platforms. It encourages retailers to contact its team of “dedicated integration specialists”, so feel free to contact them as a merchant if your platform isn’t available.

What benefits does Zip offer my business?

Some of the benefits that come with using zipMoney and zipPay include the following:

Increased sales It's easier than ever to convert store browsers into shoppers with interest-free payment solutions like zipPay and zipMoney.
Available online and in-storeWorried that your brick and mortar business won't be able to benefit from the joys of layby? Worry no more! zipMoney and zipPay can also be used in store as well as online. You can use it for both your physical and online business.
Risk-free for merchantsZip takes all the risk when it comes to transactions. It worries about credit and fraud risk whereas all you have to worry about is when your transaction gets approved since you're guaranteed payment after that.
Same-day settlementZip makes a point to have every transaction that has gone through your business settled by 4pm the same day. It deposits the money that's been collected directly to your bank account and then collects what is owed from your customers over time.
Name recognitionWith over 3,000 partnered stores using zipMoney around Australia, you're bound to benefit from the name recognition that is associated with ZipMoney.

How much will zipPay cost me?

The following costs are associated with zipPay:

  • A 15 cent transaction fee per transaction.
  • A commission rate per transaction. This rate varies from 2-4% and is dependent on your merchant agreement.

Keep these fees in mind when considering whether to get involved with zipPay. Although the fees are small, they can add up over time.

If you decide to use zipMoney, there is a small flat fee as a percentage per transaction. There are no monthly charges or set-up fees associated with zipMoney. The merchant fee depends on how much your business trades and the length of the interest-free period on offer.

What interest-free plans does Zip offer shoppers?

With zipMoney, customers pay back what they’ve bought various terms, the minimum being 3 months. Customers can be approved for amounts up to $30,000. The repayments are interest free during the initial period (indicated in your personal account) and the standard APR rate will be charged on any balance left over.

For customers opting to use zipPay, they can be approved for any amount up to $1,000 and have interest-free terms for up to 60 days. After the 60-day period ends, a $6 monthly fee applies to any outstanding balance.

Late fees and minimum repayments apply to both products.

How do I start offering zipMoney or zipPay at my store?

In order to offer zipMoney or zipPay to your customers, you must have a merchant account. Signing up for one is simple. All you need are the following details:

  • Your ABN
  • Your contact details, such as an email and a working mobile phone number
  • Your business details
  • Your bank account information so Zip can deposit money into your account

Once you’ve sent in your application, you will get a reply within 24 hours. Once your account has been approved, you simply integrate zipPay or zipMoney with your point of sale system, and you are ready to offer customers access to Zip.

Frequently asked questions about zipMoney and zipPay

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6 Responses

    Default Gravatar
    SteveMay 5, 2019

    Can I walk into a BCF store and pay with zipMoney?

      Avatarfinder Customer Care
      MaiMay 6, 2019Staff

      Hi Steve,

      Thank you for reaching out.

      It shows that BCF is accepting zip payments, so yes you should be able to walk in and use your zipMoney to take advantage of their buy now, pay later scheme.

      Hope this helps! 😊

      Kind Regards,

    Default Gravatar
    IonaMay 29, 2018

    Hi, if i use my zipmoney account for zippay will the purchase still be interest free until i pay it off? Zipmoney usually only has a set time of interest free but zippay is interest free forever just pay the account fee. Is it the same if its a zipmoney account used at checkout ir am i better getting a zippay account as well as my zipmoney?

      Default Gravatar
      NikkiMay 29, 2018

      Hi Iona,

      Thanks for reaching out to Finder.

      According to Zip, Zip Pay is an interest-free online shopping wallet with a credit limit of up to $1,500, offering you the ability to buy now and pay later, on your terms. Repayments start from as little as $10 a week. While, Zip Money is a line of credit with credit limits over $1,000.

      Every Zip Money purchase comes with a guaranteed interest-free period of 3 months, but merchants may offer longer interest-free terms according to your specific purchase.

      If you pay off your purchase within the interest-free period, you won’t pay any interest. After this period, a standard interest rate of 19.9% for new customers will apply to any remaining balance. Please check your contract for specific interest rate details, as these may vary according to the merchant you’re shopping with.

      Hope this was helpful.


    Default Gravatar
    ShaunMay 23, 2018

    Can I use zip money where zip pay is accepted

      Default Gravatar
      NikkiMay 23, 2018

      Hi Shaun!

      Thanks for getting in touch!

      Yes, you can use zip money to pay for purchases where zip pay is accepted.

      For any clarifications, feel free to message us again.

      Best regards,


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