More buy now pay later options are coming to Kmart

Posted: 21 May 2019 12:31 pm
News

shopping online Image: Getty Images

Zip's interest-free plans will soon be available online with Kmart.

Buy now pay later provider Zip has announced a new partnership with Kmart, with Zip due to launch at the retailer in late May. This is the latest in a number of high-profile partnerships for the interest-free finance provider, which announced a deal with Bunnings in November and previously having locked in partnerships with Kogan, Target and Fantastic Furniture.

Zip CEO and managing director Larry Diamond said they were "delighted" to partner with another truly significant brand.

"We believe Zip will be a great fit for Kmart, providing their customers with a better way to pay for everyday products and purchases," he said.

Zip is part of the rising "credit card disrupting" buy now pay later space which allows consumers to shop interest-free at partner retailers. Zip's largest competitor in the Australian space, Afterpay, has also locked in a deal with Kmart. This is now common practice for retailers as they move to make shoppers' preferred buy now pay later platform available.

Zip offers two products for shoppers: Zip Pay and Zip Money. Zip Pay is a smaller line of credit up to $1,000 while Zip Money is larger and can be for as much as $30,000. Both products charge no interest but rather come with a monthly fee if you want more time to repay your balance after the interest-free period, which is about two months. This is different from Afterpay which requires the entire balance to be repaid over four equal instalments.

According to Zip, the new partnership with Kmart continues to deliver on its strategic vision of partnering with Australia's largest retailers and everyday products and spending.

Shoppers should expect to be able to use Zip online with Kmart from the end of May 2019.

Latest news

Picture: Getty

Get more from Finder

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site