Get a 100% interest-free line of credit with control over your repayments.
zipPay is a simple interest-free payment solution provided by zipMoney Payments and accepted by thousands of stores and online vendors across Australia. zipPay lets you make purchases now and pay later, without the need for a credit card. Once you sign up and get approved, you’ll have a line of credit up to $1,000 and a shopping account. Using your account and credit line, you can make purchases which you can pay back in regular instalments.
|Interest Rate (p.a.)||0% (fixed)|
|Comparison Rate (p.a.)|
|Interest Rate Type||Fixed|
|Min Loan Amount||$250|
|Max. Loan Amount||$1,000|
- No interest ever
- Up to 60 days fee-free
- Monthly fee after 60 days
- Only available at certain stores
How does zipPay work?
You can start using zipPay after going through the quick sign-up process. Once you’ve signed up and been approved, you can make purchases in two ways:
- Online. Select zipPay as your payment method during checkout.
- In store. At any participating zipPay merchant, sign in to your zipPay account and select zipPay as the payment method during checkout.
Once you’ve made a purchase, you choose how you'd like to repay. You can choose a weekly, fortnightly, or monthly repayment schedule. A minimum monthly payment of $40 is required.
To avoid the $6 monthly fee you need to pay off your purchase by the end of the month you receive your statement. You will receive your statement on the first day the month following your purchase (which is why you get "up to 60 days" fee free). After this date, a $6 monthly fee will be added to your outstanding balance.
All payments are 100% interest-free and you can sign up for direct debit so payments are made automatically from your bank account or credit card according to the repayment schedule that you’ve chosen.
Features of shopping with zipPay
- 100% interest-free repayments. zipPay doesn’t charge any interest on your outstanding balance.
- Low (and avoidable) fees. The $6 monthly fee applies only at the end of the following month from the date of your purchase. To avoid this fee, simply pay your purchase back in full before this date. A late fee of $5 applies if you do not make your minimum repayment within 21 days of the due date.
- Credit limits. zipPay offers three different credit limit tiers: $250, $500 and $1,000. When you apply the algorithm will approve you for one of the limits.
- Quick and simple sign-up process. Simply visit zipPay’s sign-up page and use a valid Facebook or PayPal account to get set up.
- Instant use. Once you’ve completed the quick sign-up process and are approved, your zipPay account is immediately available to you.
- Borrow only what you need. Unlike personal loans where you may borrow too much or too little, with zipPay, you borrow only what you need. You’re also able to make co-payments on purchases if you have some cash you want to use for the purchase.
- Available at thousands of stores across Australia. zipPay is available at thousands of stores across Australia.
- Very flexible repayment plans. As long as you meet the minimum required $40 monthly repayment, you can set up repayments as you like. You can choose to pay off your loan weekly, fortnightly, or monthly for any amount you choose.
- Automatic deductions. You can set up a direct debit to automatically deduct repayments from your bank account or credit card according to the repayment schedule you’ve set up.
How much will this cost?
zipPay doesn’t charge any interest on your balance. In addition, there are no establishment or annual fees.
- Initial fee-free period. No fees are charged during your first billing cycle. The billing cycle runs from the day you’ve made the purchase until the end of the following month for a maximum duration of 60 days.
- Minimum required $40 monthly repayment. Although this isn’t a fee, zipPay does require a $40 minimum monthly payment to be made towards your balance each month.
- Monthly service fees. After the fee-free period, if you don’t pay your balance in full, you’ll be charged a flat $6 service fee on the first of every month that you have an outstanding balance.
- Late fees. zipPay may charge a late fee of $5 when you’ve made no repayments for more than 21 days (not including the initial fee-free period).
How to sign up with zipPay
To sign up for zipPay, you’ll need to meet the following criteria:
- Be an Australian citizen or permanent resident
- Be at least 18 years of age and able to enter into a legally binding contract
- Have a valid and verifiable mobile phone number and email address
- Have an Australian bank account or credit card
- Have basic information about yourself as well as bank account or credit card details
To sign up, you can create an account using your Facebook or PayPal account information. Once you’ve signed up with your basic information, you’ll be given approval within seconds, after which you can immediately begin buying with zipPay.
Have more questions about zipPay?
How safe is zipPay?
zipPay uses advanced Secure Socket Layer (SSL) encryption along with two-factor authentication on all purchases to protect your personal information and transactions.
How do I avoid fees?
Pay back your purchase within the initial period (up to 60 days) to avoid the $6 monthly fee.
How does the online account work?
You can sign into your zipPay shopping account to view transaction reports, adjust repayment schedules, make additional payments, modify payment information and more.