Cathay Pacific today announced a new partnership with Zip, the digital financial services company offering innovative, people-centred products. This partnership provides Australian customers more freedom when booking their next trip through six months interest free with Zip Money* or always interest free with Zip Pay^. Paying nothing on the day of purchase, Cathay Pacific customers can now spread the cost of their flights over weekly, fortnightly, or monthly payments – the choice is up to them.
Offering safe and secure online checkouts, Zip provides a credit limit of up to $1,000 with Zip Pay^ and up to $10,000 with Zip Money*. This gives Cathay Pacific customers the opportunity to plan their dream holiday and enjoy greater flexibility with how they pay.
Cathay Regional General Manager, Southwest Pacific Frosti Lau said: “Our partnership with Zip could not come at a better time. We know Australians are hungry to travel and having the option to break up payments provides our customers with more choice when they book with us. Our goal is to connect our customers to the world through our hub in Hong Kong and this partnership allows us to do that by providing them with the flexibility to pay their own way”.
Zip’s Acting Chief Commercial Officer, Nitin Kashid said: “We’re excited to launch our partnership with Cathay Pacific in Australia, Zip’s first major international airline. This partnership allows us to broaden our strong offering in the travel industry and support our customers in managing their booking and travel costs over time. We’re committed to providing our customers with the flexibility and control they need to plan and pay for their journeys, empowering them to unlock their financial potential.”
Click Frenzy Travel
To celebrate this new partnership, Cathay Pacific will be participating in the upcoming Click Frenzy Travel event sponsored by Zip. Taking place between 26 and 30 March 2025, Cathay Pacific will be offering discounts on return flights from Australia to anywhere in the world on its network. Visit the Click Frenzy Travel website from 26 March to learn more.
Win a share of $20,000 with Zip
As we move into Click Frenzy Travel, Zip will also be offering customers the opportunity to win a share of $20,000 in Zip credit. Between 26 and 30 March 2025, customers who check out with Zip at one of its travel brands, such as Cathay Pacific, will receive one entry into the competition where 40 customers will win $500 worth of Zip credit each. For those wanting to increase their chances of winning, they can make a purchase with one of the participating Click Frenzy Travel brands to secure three entries. Participants can enter as many times as they would like. The winners will be notified via email no later than 1 May 2025.
To find out more about Cathay Pacific’s new partnership with Zip and make a flight booking today, please head to the Cathay Pacific website.
Media Enquiries
Cathay Pacific: Emily Stojcevski +61 409 552 913 | Chris Mannix +61 418 408 035 | [email protected]
Zip: [email protected]
About Cathay Pacific
Premium full-service airline Cathay Pacific is the home carrier of Hong Kong with over seven decades of history and is a founding member of the one world global alliance. Cathay also comprises the cargo division Cathay Cargo, low-cost carrier HK Express and its lifestyle business. Cathay is a member of the Swire Group and is listed on the Hong Kong Stock Exchange (HKSE). For more information, please visit www.cathaypacific.com.
About Zip
Zip Co Limited (ACN 139 546 428) (ASX: ZIP) is a digital financial services company, offering innovative and people-centred products. Operating in two core markets – Australia and New Zealand (ANZ) and the United States (US), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants. Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. For more information, visit: www.zip.co
^Zip Pay – Minimum monthly repayments are required. A monthly account fee of $9.95 applies. This fee is waived each month you pay your statement closing balance, in full, by the due date. Available to risk eligible and approved applicants only and subject to completion of satisfactory credit check. Other charges may be payable. Fees and charges subject to change. T&Cs apply. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878. Find out more https://zip.co/au/zip-pay.
*Zip Money – Minimum monthly repayments are required and will vary depending on your credit limit. A monthly account fee of $9.95 applies. A one-off establishment fee may apply for new customers. Available to approved applicants only. T&Cs and credit approval criteria apply. Interest and other charges may be payable. Interest, fees and charges subject to change. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878. Visit https://zip.co/au/zip-money to find out more.
Download PDFNEW YORK–(BUSINESS WIRE)–GameStop Corp. (NYSE: GME) and Zip Co. (ASX: ZIP), the digital financial services company offering innovative, people-centered products, today announced a partnership in which Zip will be GameStop’s primary pay-in-installments service for online and in-store customers in the U.S. GameStop is a specialty retailer offering games and entertainment products through its thousands of stores and ecommerce platforms and a leader in the $100 billion gaming industry.
With 6.3 million active customers and 81.9K merchants1 across the U.S., Australia and New Zealand, Zip is reinventing consumer finance with innovative, flexible, and accessible solutions that empower users to confidently manage their spending, unexpected bills, and purchases.
Paying in installments has firmly established itself as a mainstream payment option, and Zip’s innovative and inclusive approach is revolutionizing access to the retail economy. Its unique algorithm welcomes a broader demographic to access credit, which not only introduces a new segment of customers to brands but also helps to address the needs of those long underserved by traditional financial institutions.
“We are so pleased to become the primary Buy Now, Pay Later partner of GameStop, a business that has been at the forefront of offering shoppers an array of customer-first options for gaming purchases, from payment options to trade-in policies,” said Joe Heck, Zip U.S. CEO. “Nearly 84% of Zip’s U.S. customers shop for gaming and accessories at GameStop, with many returning to Zip for repeat purchases. Gaming is one of Zip’s most popular categories overall, making Zip an ideal partner for helping these shoppers responsibly purchase goods and services from one of the industry’s fan-favorites and top businesses.”
To learn more about the benefits of Zip, and how your business can work with Zip and offer it as a payment option, please visit: www.zip.co.
1As at Q2 FY25.
About Zip
ASX-listed Zip Co Limited (ACN 139 546 428) (ASX: ZIP) is a digital financial services company, offering innovative and people-centered products. Operating in two core markets – Australia and New Zealand (ANZ) and the United States (US), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses.
For more information, visit: www.zip.co. US loans through the Zip app and Zip Checkout are originated by WebBank, except for Zip-originated loans in CO, NV, MA, and MD.
Contacts
Press Contact
Zip Co.
NEW YORK – (BUSINESS WIRE) – Zip (ASX: ZIP), the digital financial services company offering innovative, people-centered products, today released its 2024 US Holiday Spending Report, highlighting how inflation continues to impact consumer behavior, while trends like “reward spending” and “self-gifting” gain momentum.
“Holiday spending is always a balance between financial discipline, the joy of giving, and the excitement of scoring discounts and deals”
The survey of over 16,000 Americans conducted from October 7 – October 17, reveals a clear generational divide in holiday spending plans. Millennials and Gen Z shoppers are ready to splurge after years of budget constraints, while Baby Boomers are taking a more cautious approach amidst the sentiment of economic uncertainty.
“Holiday spending is always a balance between financial discipline, the joy of giving, and the excitement of scoring discounts and deals,” said Joe Heck, US CEO of Zip. “Our research shows that while the looming sentiment around inflation is causing some shoppers to cut back, others are using flexible payment options like Zip to treat both their loved ones and themselves this holiday season.”
Key trends from the 2024 Holiday Spending Report:
Boomers hit the brakes – while Gen Z ramps up for reward spending: Baby Boomers are cutting back on spending, but younger generations are taking the opposite approach. After years of careful budgeting, Gen Z and Millennials are now “reward spending” – making up for lost time due to years of austerity and budgeting and indulging in some previously-postponed purchases. This generational divide is happening even as inflation cools, but negative sentiment around the economy and continued sticker shock continue to impact everyone’s holiday budgets.
- Over a third of Gen Z / Millennial Shoppers (18-34) are embracing “reward spending” – 31% said they plan to spend more on gifts than in previous holiday seasons, while 54% said they’d spend the same as in previous years, and 15% are cutting back.
- Meanwhile, 54% of consumers aged 55 and older are cutting back on spending due to higher prices and economic uncertainty.
Black Friday Deals vs. Payday Shopping: When Do People Really Spend?: The question is simple: Do shoppers time their purchases based on sales events like Black Friday, or do they shop when they have money in their pockets after payday? The answer varies:
- Black Friday and Cyber Monday remain popular shopping events, with 72% of consumers planning to participate. Men are most likely to go over their budgets during these sales (78%), followed by shoppers aged 25-34 (75%) and 35-44 (74%).
- Young adults aged 18-24 are also planning their Black Friday and Cyber Monday purchases, with 69% saying they’ll shop during these events.
- Shopping patterns differ for older consumers: 18% of those aged 55-65 prefer to make their holiday purchases shortly after receiving their paychecks rather than during major sales events.
Night Owl Shopping: The New Midnight Spending Trend: A surprising trend has emerged: 40% of shoppers make their big purchases at midnight. Why? Many retailers now launch their best deals and flash sales in the middle of the night, turning late-night hours into prime time shopping.
- Late-night shopping peaks among 25-34 year olds, with 48% making purchases during midnight sales.
- Self-gifting is on the rise: 40% of shoppers are buying themselves tech gadgets, while 23% of women prefer to splurge on beauty and spa products.
Do Gift Guides work? Depends on the age. Holiday gift guides, a staple of both media and retail brands, are essential for some shoppers but irrelevant to others:
- Gift guides are most popular with younger shoppers: 51% of those aged 25-44 use them, along with 39% of those aged 18-24.
- Interest in gift guides declines with age: only 30% of shoppers aged 45-54 use them, dropping further to 15% for those aged 55-64.
Unconventional self-gifting: While most people treat themselves to common items like gadgets, makeup, or fashion, some shoppers are taking a more eccentric approach to self-gifting. Here are some unique self-reported examples:
- An infrared sauna
- Night vision goggles
- A pair of the iconic sneakers made famous by Forrest Gump
- White Sox tickets for the whole family
- Tattoos
Why Spouses Top the ‘Hard-to-Shop-For’ List: Despite knowing them best, people find buying gifts for their closest family members—especially spouses—to be the most challenging task of the holiday season.
- Spouses top the list of challenging gift recipients, with 30% of both men and women saying their partner is the hardest person to shop for.
- Children present their own gift-buying challenge: 11% of parents struggle to keep up with their kids’ changing preferences.
Short-term installment payment services are key for managing Holiday spending: Consumers are increasingly turning to short-term installment payment brands to handle their holiday expenses. These payment plans can help lift the financial burden of the season by letting shoppers spread their costs over several installments, removing the need for immediate payment.
- 59% of consumers use short-term installment payment services for their holiday shopping.
- 1 in 4 Americans (23%) stated they are more likely to shop with retailers that offer short-term installment payment options at checkout.
To learn more about Zip, visit http://www.zip.co.
About Zip
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company, offering innovative and people-centered products. Operating in two core markets – Australia and New Zealand (ANZ) and the United States (US), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. US loans through the Zip app and Zip Checkout are originated by WebBank. All loans are subject to credit approval.
For more information, visit: www.zip.co.
Contacts
Press Contact
Zip Co.
Financial Innovator and Women’s Basketball Icon Team Up to Showcase Flexible Spending Power
NEW YORK – October 1, 2024 – Zip (ASX: ZIP), a digital financial services company offering innovative, people-centered products, today announced a new advertising campaign featuring two-time WNBA champion, Olympian, and superstar Kelsey Plum. The “Pay How You Want” campaign showcases Zip’s payment options that let customers manage their spending without relying on traditional credit solutions and make the most of life’s opportunities.
The centerpiece of the campaign is a 30-second spot that follows Plum through an iconic pre-game tunnel walk. The ad illustrates the Zip Pay in 41 product, issued by WebBank, which allows customers to split purchases into four installments, and complements Plum’s multifaceted lifestyle as a businesswoman, role model, and elite athlete.
“My success as a professional athlete and entrepreneur has always come down to having a game plan, and that’s what I love about Zip,” said Kelsey Plum. “Zip provides all the tools you need to win. It’s not just about splitting payments– it’s about having options. Whether you’re picking up new gear for the season or investing in yourself off the court, I love that Zip gives me the option to make choices that work for my needs.”
“This campaign brilliantly captures how Zip supports customers in taking control of their finances and living life on their own terms,” said Jinal Shah, Chief Marketing Officer at Zip. “Kelsey Plum embodies the confidence we aim to provide customers, including professional athletes who have said they’ve used Zip to budget better. We’re particularly proud that the power of women was represented both in front of and behind the camera- from award-winning director Andrea Buccilla- to the creative team at Malka, our agency partner. “Pay How You Want” demonstrates that when a customer uses Zip, they are empowered to take charge of their financial journey and pursue their passions without limits.”
As a key player in the financial services industry, Zip has introduced several innovative features, including the Pay Anywhere2 functionality, which enables customers to use Zip pretty much anywhere Visa3 is accepted.
The “Pay How You Want” campaign, created in partnership with Malka Media, launches today across various digital and social media platforms including cable and on-demand television, TikTok, YouTube, Meta, and out-of-home.
About Zip
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company, offering innovative and people-centered products. Operating in two core markets- Australia and New Zealand (ANZ) and the United States (US), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses.
For more information, visit: www.zip.co
1For example, for a $335 purchase, you’d make four $85.25 payments every two weeks starting today for a 31.11% annual percentage rate and a total of payments of $341. A $6 installment fee is charged at commencement- you pay $1.50 of this fee as a prepaid finance charge when you make your initial payment today. The remaining $4.50 is included in your future payments. Actual installment fees vary and can range from $0 to $7.50 depending on the purchase price and Zip product used. Actual amount of fee for your purchase will be reflected in checkout. Estimation of installment payment and annual percentage rate excludes potential tax and shipping costs. Zip Pay Anywhere and Zip Checkout financing through Zip issued by WebBank. All loans are subject to credit approval.
2Eligibility criteria apply. See payment terms: Zip Loan Terms of Service | Zip, previously Quadpay. Loans to California residents, other than loans through the Zip Pay Anywhere and Zip Web Checkout are made or arranged pursuant to a California Lenders Law license.
3VISA is a trademark owned by Visa International Service Association and used under license.
Download PDFU.S. merchants using Stripe will now be able to seamlessly integrate Zip’s payment method at checkouts in the United States.
NEW YORK – August 15, 2024 – Zip (ASX: ZIP), a digital financial services company offering innovative, people-centered products, today announced its integration as a payment method for U.S. merchants using Stripe. With the new integration, eligible merchants can easily enable Zip as a payment method with a single click, which can help attract new customers and increase both conversion rates and basket sizes. Zip partnered with Stripe in Australia last year, and this now extends the partnership for merchants in the U.S.
With 6.0 million active customers and more than 79,000 merchants across the United States, Australia and New Zealand, Zip continues to promote financial inclusion by making everyday spending, cash flow management, budgeting – and the ability to cover unexpected expenses – accessible.
BNPL has firmly established itself as a mainstream payment option, and Zip’s innovative and inclusive approach is revolutionizing access to the retail economy. Its unique algorithm welcomes a broader demographic to access credit, which not only introduces a new segment of customers to brands but also helps to address the needs of those long underserved by traditional financial institutions.
“Our goal at Zip is to provide customers transparent and flexible credit solutions that enhance their financial autonomy while providing merchants access to a new and motivated customer base,” said George Eliopoulos, Chief Commercial Officer at Zip. “Our strategic partnership with Stripe continues to deliver strong outcomes for merchants and customers in Australia, and we are excited to replicate the success in the United States. ”
For merchants leveraging Stripe’s optimized checkout interfaces, like the Payment Element and Checkout, they can enable Zip with no code from their Stripe Dashboard. Zip is available to merchants in Australia with general availability to merchants in the United States expected later this year.
To learn more about the benefits of the Zip and Stripe integration, or to enable Zip as a payment option, please visit: https://docs.stripe.com/payments/zip, or reach out to your Stripe account representative for further details and early access.
About Zip:
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company, offering innovative and people-centered products. Operating in two core markets – United States (US) and Australia and New Zealand (ANZ), Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. US loans through the Zip app and Zip Checkout are originated by WebBank. All loans are subject to credit approval.
For more information, visit: www.zip.co
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NEW YORK – June 6, 2024 – Zip Co. (ASX: ZIP), the award-winning BNPL company that offers flexible and transparent payment options to millions of customers, is pleased to announce that Kelsey Plum, WNBA superstar and two-time champion with the Las Vegas Aces, will join the company as a brand ambassador. Together, they will spotlight Zip’s commitment to providing accessible payment options that open doors to new experiences, events, and possibilities for customers across all economic backgrounds.
“At Zip, we believe in empowering individuals to reach their full potential, just as Kelsey Plum has done throughout her remarkable career,” said Larry Diamond, Co-Founder and US CEO, Zip. “With Kelsey as our brand ambassador, we hope to inspire our customers to approach their financial goals with the same determination and resilience that has made Kelsey Plum a superstar in the WNBA. We are incredibly excited to welcome her to the Zip family.”
Known for making a positive impact in women’s sports, Kelsey Plum is focused on bringing the same energy and dedication towards making financial health more accessible to everyone.
“Understanding and managing your financial health can be daunting for anyone,” said Plum. “I’m so excited to partner with Zip, so that together we might help inspire people to dive into learning more about their financial journeys.”
As a brand ambassador for Zip, Kelsey Plum will partner with Zip to further its mission of driving financial inclusivity for over 100M Americans via creating exclusive content and experiences. As part of the relationship, Plum will also serve as the Grand Marshal at Zip’s 250 NASCAR Xfinity Series at Sonoma Raceway this coming June 8th.
For more information about Zip and the partnership with Kelsey Plum, please visit Zip.co or on Instagram at @zip_usa.
About Zip:
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company offering innovative, people-centered products that bring customers and merchants together. Operating in two core markets – Australia and New Zealand (ANZ) and the United States (US), Zip offers point-of-sale digital payment services connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides access to fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. Zip is also a licensed and regulated credit provider and is committed to responsible lending. For more information, visit: www.zip.co. US loans through the Zip app and Zip Checkout are originated by WebBank, except for Zip-originated loans in CO, NV, MA, and MD.
For more information, visit: www.zip.co
About Kelsey Plum:
Kelsey Plum is a WNBA All-Star and reigning, back-to-back champion from the Las Vegas Aces.
Born and raised in Southern California, Plum was the AP, John Wooden, Naismith, and USBWA College Player of the Year at the University of Washington, before being selected as the No. 1 overall in the 2017 WNBA Draft. She finished her collegiate career as women’s basketball’s all-time scoring leader.
Since then, Plum has earned WNBA All-Star honors twice (including winning MVP at the 2022 All-Star Game) en route to back-to-back world Championships with the Aces in 2022 and 2023.
Plum has represented the United States at the highest levels, having won a gold medals at the 2020 Tokyo Olympic Games for 3×3 Basketball, and with the U.S. National team at both the 2018 and 2022 Women’s Basketball World Cups.
Press Contact
[email protected]
Zip Co Limited (“Zip”) provides the following statement in response to the Federal Government’s announcement regarding the introduction of new Buy Now Pay Later legislation in Australia.
Attributable to Zip ANZ CEO and Co-Founder, Peter Gray:
“Zip has been a longstanding advocate for fit-for-purpose regulation that supports strong customer outcomes. We welcome the Federal Government’s announcement and the introduction of these standards, which are aligned with Zip’s existing practices.
Zip holds an Australian Credit Licence and already conducts credit and affordability checks on its customers. We are supportive of the Government holding all providers in the sector to the same minimum standard. In addition, Zip already offers two regulated products under the National Consumer Credit Protection Act – Zip Money and Zip Plus.
Sector-specific regulation will give confidence to all stakeholders and Zip has actively engaged with the Government and other stakeholders throughout this process, including publicly supporting Option 2 of Treasury’s proposals.”
Download PDFZip is excited to announce the launch of an exclusive partnership with Moshtix, providing customers with greater choice and control over how they pay for live music and events.
The exclusive partnership sees Zip and Moshtix customers able to access tickets for some of Australia and New Zealand’s hottest festivals and live music events with fairer, more flexible payment options.
With a long hot summer already in full swing here, it’s the perfect time to snap up tickets or gift them to family or mates, with hotly anticipated festivals on sale now such as Groovin the Moo events in Australia and Rhythm & Vines events in New Zealand.
“As part of Zip’s ever growing presence in the entertainment and ticketing space, we are thrilled to announce our partnership with Moshtix in Australia and New Zealand, offering customers transparent and fairer payment options for stand out live music and events experiences that we all love” – Peter Gray, Co-Founder & CEO of Zip ANZ.
“The addition of Zip to all Moshtix events will offer huge benefits to our event partners and their fans across Australia and New Zealand, by providing them the opportunity to purchase tickets instantly with a flexible payment option.
At Moshtix, our mission has always been to remove the barriers between fans and the artist and to ‘make live easy’, and we really believe this partnership will deliver that. By giving our fans the flexibility to purchase more tickets, we are helping event organisers welcome more fans through their doors.” – Harley Evans, Moshtix Managing Director.
About Zip
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company, offering innovative, people-centred products that bring customers and merchants together. Operating in two core markets – Australia and New Zealand (ANZ) and the Americas, Zip offers point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. Zip is also a licensed and regulated credit provider and is committed to responsible lending.
For more information, visit: www.zip.co
About Moshtix
Moshtix is an industry leading GA ticketing provider, specialising in live music and entertainment events.
Launched in 2003, our longevity is based around our industry-leading technology that caters for self-service, full service and white label offerings, backed by a team of highly experienced industry professionals. We work with some of the country’s most iconic festivals and live music venues, as well as providing ticketing and marketing services to the dance music, comedy, cinema, arts & culture and entertainment sectors nationally.
The Moshtix platform provides a seamless connection between our clients, ticket buyers and the artist, at a fair price to help people discover, share and experience the live entertainment they love.
In 2019, Moshtix became a Ticketmaster company, part of Live Nation Entertainment (NYSE: LYV) – the world’s leading live entertainment company comprised of global market leaders: Ticketmaster, Live Nation Concerts, and Live Nation Media & Sponsorship.
For more information, visit www.moshtix.com.au.
Download PDFMerchants who accept Google Pay online now have the option to offer Zip’s Pay-In-4* at checkout, further enhancing customers’ ability to manage their expenses with flexible payments.
NEW YORK – December 13, 2023 – Zip Co. (ASX: ZIP) today announced a collaboration with Google Pay that will enable merchants in the U.S. who accept Google Pay online to integrate the innovative Zip Pay-In-4* service issued by WebBank. This integration, scheduled for a pilot launch in January 2024, comes as Buy Now, Pay Later (BNPL) adoption is on the rise, offering consumers enhanced flexibility in their payment choices at checkout.
Zip products stand out as modern and convenient payment solutions, proven to boost checkout conversion rates and increase average cart sizes for merchants. This new feature, coming soon to select merchant Android apps that offer Google Pay for checkout or when shopping on select merchant sites from an Android device, will be available to merchants at no additional integration.
Recent research by Zip has highlighted the growing relevance of BNPL services in consumer spending. Approximately 41% of Americans¹ report that BNPL options have enabled them to manage holiday expenses more effectively. Additionally, 47% of BNPL users¹ find this payment method particularly appealing due to its purchase-splitting feature.
“Consumers are increasingly seeking flexibility at checkout, while merchants are looking for innovative ways to boost sales and enhance customer loyalty,” said Zip Co-founder and U.S. CEO Larry Diamond. “With Zip available in the Google Pay checkout experience, we are bridging a gap and providing a flexible credit product for the many consumers overlooked by traditional credit products. By offering Zip payment solutions through Google Pay, we’re empowering consumers with more choices while providing merchants with a powerful tool to increase conversion rates and build lasting customer relationships. It’s a win-win scenario where convenience meets commerce, fostering a more dynamic and responsive shopping experience.”
This collaboration meets the evolving needs of consumers and merchants alike. As flexible payment options continue to gain traction, BNPL has emerged as a crucial financial management tool for consumers, but also a proven way for merchants to increase order value, attract new customers, and foster customer loyalty.
“We are always looking for ways to give people a more helpful checkout experience when shopping on Google,” said Drew Olson, Senior Director, Google Pay. “By teaming up with BNPL providers like Zip, we are able to give Google Pay users another payment option when checking out, while providing merchants with another tool to drive their growth.”
During the pilot phase, when shoppers tap the Google Pay online checkout button on select merchant’s Android apps, the customer will see a promotional banner within Google’s home screen letting them know that the Zip BNPL option is available. If the user taps on this banner or selects to change their form of payment, they’ll see a list of BNPL providers along with more details on their product offering. If the user chooses Zip, they can learn more about the terms and conditions and then go through a few steps to complete the purchase. Once approved, customers can conveniently spread out their payments for purchases over $35.
Zip was established to disrupt the traditional credit card industry by offering consumers innovative, accessible, and flexible alternatives designed to foster financial freedom. As a trailblazer in the BNPL space, Zip has consistently been at the forefront of several industry-first market innovations, including the introduction of the Zip ‘Pay Anywhere’ functionality and the rollout of the inaugural BNPL physical card, designed for offline purchases in physical retail locations.
Editor’s Note:
¹Full findings and methodology from Zip’s 2023 Holiday Spending research conducted in October 2023 are available here.
# # # # #
About Zip
ASX-listed Zip Co Limited (ASX: ZIP) is a digital financial services company offering innovative, people-centered products that bring customers and merchants together. Operating in two core markets – Australia and New Zealand (ANZ) and the Americas, Zip offers point-of-sale credit and digital payment services, connecting millions of customers with its global network of tens of thousands of merchants.
Founded in Australia in 2013, Zip provides fair, flexible and transparent payment options, helping customers to take control of their financial future and helping merchants to grow their businesses. Zip is also a licensed and regulated credit provider and is committed to responsible lending. For more information, visit: www.zip.co.
*For example, for a $335 purchase, you’d make four $85.25 payments every two weeks starting today for a 31.11% annual percentage rate and a total of payments of $341. A $6 installment fee is charged at commencement – you pay $1.50 of this fee as a prepaid finance charge when you make your initial payment today. The remaining $4.50 is included in your future payments. Actual installment fees vary and can range from $0 to $7.50 depending on the purchase price and Zip product used. Actual amount of fee for your purchase will be reflected in checkout. Estimation of installment payment and annual percentage rate excludes potential tax and shipping costs. Zip Pay Anywhere and Zip Checkout financing through Zip issued by WebBank, except for Zip-originated loans in CO, NV, MA, and MD. All loans are subject to credit approval.
Download PDFThe holiday season, traditionally a time of festivity and gift-giving, has always been a significant driver of US retail rales.
Over the years, consumers behaviors and spending habits have evolved, with technological innovations and market shifts playing a role.
One such innovation that’s leaving an indelible mark on holiday spending is Buy now, pay later (BNPL).
Through an analysis of survey data with n=3,012 Americans, this report delves into the intricacies of US holiday spending, with a focus on the growing role of BNPL.
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