Zip Co. Partners with BigCommerce, Accelerating the Growth of Installment Payments Globally; Elevated to Elite Partner Status
BigCommerce merchants can now offer flexible digital payment options seamlessly at checkout in Australia, New Zealand, the U.K. and United States.
SYDNEY — Zip Co Limited (ASX: Z1P), a leading player in the digital retail finance and payments industry, today announced the company has been selected by BigCommerce (NASDAQ: BIGC) as an Elite Partner. Seen as a best-in-class e-commerce solution for businesses both large and small, Zip will provide flexible digital payment options to BigCommerce’s network of more than 60,000 merchants, globally.
“With so many options in today’s retail environment, merchants need to be thoughtful about decreasing barriers to purchase for their customers – including providing easy-to-use alternative payment methods at checkout,” said Russell Klein, Chief Commercial Officer for BigCommerce. “Zip is a trusted global leader in installment-based payments, and we are excited to welcome them as Elite Partners. Our merchants and their customers will benefit from Zip’s transparent Buy Now, Pay Later financing solutions.”
Zip offers point-of-sale credit and digital payment services to industries including retail, home, health, automotive and travel. The company has operations across Australia, New Zealand, South Africa, the United Kingdom and in the U.S. via Quadpay, a Zip Co. company.
“Following success in Australia and New Zealand, we are expanding our partnership with BigCommerce to the U.S. and U.K. markets”, said Zip Co. Chief Commercial Officer Hamish Moline. “Given the resilience and acceleration of the BNPL model globally, Zip and BigCommerce will work together to shape the future of e-commerce, giving merchants on the platform the ability to offer customers a way to make purchases in a way that is fair, transparent and interest-free.”
Zip and QuadPay’s robust integration with BigCommerce enables brands to quickly and seamlessly implement Zip, offering their 5.7+ million registered users the following benefits:
- Increased order value and conversion – 40 percent of consumers say they are more likely to complete a transaction if BNPL is offered at checkout, suggesting that merchants that do offer BNPL can expect to see increased Average Order Value (AOV) and conversion. In fact, some QuadPay merchants in the US have reported experiencing an uplift in return customer rates of up to 50 percent and between 20 percent and 50 percent lift in average order value almost overnight.
- Near-instant integration – the direct integration to the BigCommerce platform means that merchants can activate Zip and QuadPay instantly and start seeing results quicker than any other digital payment solution.
- Competitive and flexible pricing options – including merchant fees and consumer fees – which reduce as a merchant’s transaction volume increases.
Zip’s installment payment platform is available now in Australia, New Zealand, the U.K. and U.S. Retailers in the U.S. can register for the new digital payment capabilities here.