New zipPay partnership means interest-free payments for groceries, petrol
Cash, card or an interest-free payment plan?
Zip has announced a new strategic partnership with Australian company Quest which will see its zipPay product integrated into the Point of Sale (POS) systems of Quest's merchants. As a provider of payment terminals and retail technology, Quest's merchants include those that offer "everyday spend" products such as petrol stations, pharmacies, grocery stores and even public transport systems. zipPay will now be offered across Quest's entire network as a payment option.
zipPay is one of two Zip products, the other being zipMoney, a larger product with a limit up to $10,000. zipPay is designed for smaller purchases and has a maximum limit of $1,000. Account holders then have two months to pay off their balance, after which a $5 monthly fee will apply. Those looking to pay with zipPay can sign up online before shopping or at the retailer when making their purchase.
Larry Diamond, zipMoney managing director and CEO said the new partnership with Quest is part of Zip's evolution as the "go-to payment choice for everyday spend".
"Quest’s nationwide network will give millions of consumers the choice to use Zip when purchasing their daily needs. We are proud to bring something new – Zip's fair, transparent and convenient payment option into Quest’s payment terminals that consumers use every day," he said.
Quest's head of alternative payments Luke Fuller said Zip is integral to Quest's strategy to offer payment methods that don't rely on traditional card schemes.
"The in-store experience has been designed to empower the customer to choose their preferred payment method on a Quest payment terminal – either pay by debit or credit card or select zipPay," he said.
This is the second partnership announcement for Zip in recent weeks. In late October, Zip announced a partnership with Retail Express that would allow its network of over 4,000 retailers to offer Zip payment options for no activation costs. They could also be set up with Zip in one day.