Zip expands its Buy Now, Pay Later service

By Ceyda Erem ·

Buy Now, Pay Later (BNPL) service Zip has announced a brand new product feature called ‘Tap & Zip’, which will allow Aussies to bring BNPL almost everywhere, just in time for Christmas shopping. 

Specifically, Zip customers will be able to use the BNPL service in store wherever Visa is accepted. The product feature is expected to bridge a gap within the retail industry, with only 13% of stores currently accepting BNPL as a payment choice, according to Zip. 

“BNPL has seen phenomenal growth over the last few years, as customers switched from traditional forms of credit for flexible, digital alternatives. However, until now that growth has been restricted by a clunky instore checkout and limited acceptance,” said Zip co-founder and chief executive officer, Larry Diamond. 

“Everywhere Australians can pay with a Visa contactless card, they’ll now also be able to Tap & Zip, interest-free.”

Zip customers to always pay their way

In addition to Tap & Zip, the BNPL has also introduced Apple Pay and Google Pay into its service, giving customers even more payment flexibility and, more importantly, safer spending. 

Having this capability will also make online shopping seamless, as Apply Pay for Mac reduces the need for customers to continuously make accounts and provide shopping and billing information whenever they want to make a purchase. 

According to Diamond, this is another gap in the market the BNPL giant is hoping to fill. 

“We continuously hear from Zip customers that they want to use their digital wallet to pay for everyday purchases, like groceries or petrol, or to buy products and services from merchants that don’t accept BNPL,” he said. 

Want to learn more about how the everyday Aussie uses BNPL? Check out Buy Now, Pay Later report for 2020! 

Or if you want to keep up with all the latest fintech movements, make your next stop our fintech hub.

Ceyda Erem
Money writer

Ceyda Erem is Mozo’s authority on Energy, as well as having broader expertise as a personal finance writer. She loves to put her researching and writing talents into stories that help our readers to make more informed financial choices, whether that’s about finding the best energy deal or writing about the latest sneaky bank tricks. Ceyda has a Bachelor of Arts (major in writing) from Macquarie University.