Offering “Buy Now Pay Later” through zipMoney just got easier for retailers

Elizabeth Barry 25 October 2017

Larry Diamond zipMoney

Larry Diamond – CEO and co-founder of zipMoney

Over 4,000 businesses will now have an easier time offering interest-free payments to customers.

zipMoney has announced a new partnership with cloud-based retail software provider Retail Express to allow its network of retailers to offer Zip payment options for no activation costs – a first in the interest-free space.

By integrating Zip's products with Retail Express Point of Sale (POS) systems, over 4,000 Australian retailers will be able to apply for and "switch on" Zip's interest-free offerings in the same day.

Zip currently has two products, zipMoney, a larger line of credit up to $10,000 with three interest-free term options, the largest extending up to 12 months, and zipPay, an interest-free line of credit up to $1,000 with terms of 60 days. After the initial 60-day term a $5 monthly fee applies.

Once a retailer signs up to Zip, customers can check out with either zipPay or zipMoney. New customers can also sign up on their mobiles and get a decision at the POS.

“Our partnership with Retail Express demonstrates the importance of providing a seamless payment experience both online and in-store," said Larry Diamond, CEO and co-founder of zipMoney.

"Today’s customers demand flexibility and choice with their payment options. The digital wallet is a true enabler of this and Retail Express is committed to providing their retailers with the latest and greatest to help them grow and stay ahead.”

Retail Express CEO Aaron Blackman said that he believes Retail Express' retailers are now in a better position to service their customers and grow their business. “We strongly believe that Zip offers a very attractive and flexible solution to customers and a relationship with Zip will be frictionless at the point of sale," he said.

"We pride ourselves on helping our retailers to reduce costs, improve efficiency and grow sales; the integration with Zip reinforces these benefits.”

The integration is available from today.

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