Financial Wellness

Who We Are

Zip is a responsible credit provider. It’s a core value of ours and we take this extremely seriously and pride ourselves on offering products with a strong focus on accountability and financial wellbeing. We have one credit product – Pay in 4. Zip was born from the belief that there should be a better and fairer alternative to the unfriendly credit card model that is typically reliant on customers’ revolving high balances and high compounding interest. Our one clear and straightforward purpose is to create transparent, responsible, fairly-priced credit products for our customers and merchants –something we work towards tirelessly, aligning with our value of helping to create financial wellness.

Our Beliefs

We do well when you have a great experience using our products, spend responsibly, repay your instalments on time, and re-use your account. We recognise the responsibility of issuing credit, the importance of ensuring our products are appropriate to your circumstances and that we must have safeguards in place should your situation change.

Suitability

As a lender, we have a responsibility to take steps to verify your circumstances and ensure that our Zip products are appropriate given your needs and financial situation. We will ask you for some necessary information and we also carry out credit checks and verify ID on all applications. In some instances, we require you to provide additional information such as your primary banking data to help us make an informed decision.

Flexibility

We know life is unpredictable, and we understand that some things may happen that are out of your control and could make it difficult to make your minimum fortnightly repayment. If you are facing financial difficulties, whether they be temporary or permanent in nature, we have a dedicated New Zealand based Customer Experience Team that is committed to finding ways to help. Call us or get in touch so we can help with guidance, support and if required our formal hardship program is available in certain circumstances.

Communication

Keeping you up to date is essential. We encourage you to download our app as it’s a great way to keep track of your account and easily manage your repayment schedule. We also send your payment reminders before payment due dates. It might seem annoying, but we don’t want there to be any surprises. Along similar lines, if we see something suspicious on your account, we may put a temporary block on your account and ask you to get in touch with us to verify everything is in order.

Other Tools and Resources

There is a range of free great tools, resources, and information available to help with managing debt, budgeting and general money management.

• https://sorted.org.nz/ offers you an independent money guide, a wide range of money management information, budgeting tools and guides to help you on your money journey.
• https://www.moneytalks.co.nz is a free financial helpline where you can find a local Financial Mentor if you need help on your money journey. It also provides loads of useful resources to help you gain knowledge in general money management.