Zip Pay Longer Disclosure Statement

Loan Contract and Disclosure Statement for your Zip Pay Longer consumer credit contract

Date: [●]
Initial disclosure statement under section 17 of Credit Contracts and Consumer Finance Act 2003 for consumer credit contracts
IMPORTANT – This document sets out key information about your consumer credit contract. You should read it thoroughly. If you do not understand anything in this document you should seek independent advice. You will receive a copy of your Agreement (which includes this Disclosure Statement and the terms and conditions set out below) in your Zip Pay Longer confirmation email and you should keep your Agreement in a safe place. The law gives you a limited right to cancel your Agreement (see below for further details). Note that strict time limits apply.
Any capitalised terms in this Disclosure Statement have the meaning given to them in the Zip Pay Longer terms and conditions attached to this Disclosure Statement.


Full Name and Address
Lender Borrower
Zip Co NZ Finance Limited [●]
Level 13
5-7 Byron Avenue
Takapuna, Auckland


Credit Details

Initial unpaid balance
This is the amount you’ll owe as at the date of this statement (including any fees charged by us) once you confirm your purchase:
$[●] made up of: Transaction Value $[●]
establishment fee $[●] (split evenly across each payment except the initial payment)
You will also pay $[●] as payment processing fees over the course of the Agreement (see more details below). This is calculated as 1.6% of any payment amount.
You will pay $[●] as a deposit payment on the date of this statement once you confirm your purchase, at which time you will owe us: $[●] and any payment processing fee.
Subsequent Advances: Nil under this Agreement. Subject to approval criteria you may be able to enter an entirely separate instalment arrangement contract with us.
Total advances: [$ insert amount equal to Transaction Value]



You agree to make the following 13 fortnightly payments (made up of your Transaction Value, establishment fee and the payment processing fees) in accordance with your Payment Schedule, on the Payment Dates set out below:

Made up of:
Payment no. Payment Date: Total Payment Amount Principal Establishment fee Payment processing fee
1st payment:
2nd payment:
3rd payment:
4th payment:
5th payment:
6th payment:
7th payment:
8th payment:
9th payment:
10th payment:
11th payment:
12th payment:
Last Payment:
Total amount of payments:

We will automatically take payment from your specified Card (or any updated card details you may have provided). It is your responsibility to ensure the Card has sufficient funds to enable us to take the relevant instalment.



No interest is payable under this Agreement.


Credit Fees and Charges

A payment processing fee is payable under or in connection with the Agreement (in addition to the establishment fee). The payment processing fee is charged to cover the cost of processing any payment you make to us. This fee is calculated as 1.6% of the principal component of any payment amount you make to us and is due and payable whenever you make a payment to us (except the deposit payment), including on each Payment Date after the first payment date and any date you prepay.


Default Fees

If you have not paid the amount you owe us by 11:59pm on a Payment Date a fee of $8 (“Late Fee”) will be immediately payable and charged to your Card 3 working days after the original Payment Date. The total amount of Late Fees we would ever charge you under this Agreement is $40; and
You must pay any reasonable cost we incur as a result of appointing a third-party collection agency to collect any amount owing, payable at the time we incur the cost.


Continuing Disclosure

We maintain (at all reasonable times) the Zip Platform at including on the Zip Pay Longer mobile app that allows you to access information about your Agreement for any payment period specified by you.


Full Prepayment

If you pay the unpaid balance in full before the final payment is due (“full prepayment”), you will not be required to pay any additional fee or charge for a full prepayment, but you will be charged the remaining balance of the establishment fee and to pay the payment processing fee for your payment.
In the event of partial repayment or a valid refund processed by the Retailer, we will reduce your future instalments accordingly.
For the avoidance of doubt, you will be charged the payment processing fee for any prepayment, but not a refund by the Retailer.


Right to Cancel

You are entitled to cancel the Agreement by giving notice to us.
Time limits for cancellation
You must give notice that you intend to cancel the Agreement within 7 working days of the date of this Disclosure Statement. Saturdays, Sundays, and national public holidays are not counted as working days.
How to cancel
To cancel, you must give the Lender written notice that you intend to cancel the Agreement by––
giving notice to us or our employee or agent; or
posting the notice to us or our agent; or
emailing the notice to our email address (if specified on the front of this disclosure statement).
You must also repay to us any payments received by you under the Agreement, unless you have returned the goods to the Retailer.

What to do if you suffer Unforeseen Hardship
If you are unable reasonably to keep up your payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to apply to us for a hardship variation.
To apply for a hardship variation, you need to:
make an application in writing; and
explain your reason(s) for the application; and
request one of the following:
an extension of the term of the Agreement (which will reduce the amount of each payment due under the Agreement); or
a postponement of the dates on which payments are due under the Agreement (specify the period for which you want this to apply); or
both of the above; and
give the application to us.
Do this as soon as possible. If you leave it for too long, we may not have to consider your application.


Dispute Resolution

Name of dispute resolution scheme: Financial Services Complaints Limited
It is free to make a complaint to this independent dispute resolution scheme. This scheme can help you to resolve any disagreements you have with us.
Contact details of dispute resolution scheme:
Phone: 0800 347 257
Business address: Level 4, Sybase House, 101 Lambton Quay, Wellington 6011

Registration on Financial Service Provider Register
Creditor registration name: Zip Co NZ Limited Registration number: FSP554386
Consent to Electronic Communications
We consent to receiving notices or other communications from you in electronic form.