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Afterpay vs zipPay
Keep an eye out for repayment terms, schedules and fees when comparing.
Are you shopping for a buy now pay later (BNPL) interest-free platform? Not all BNPL services are alike. This makes comparing your options all the more important. We’ve done the research for you, comparing Afterpay and Zip Pay. Remember to consider all costs, features and repayment flexibility before you make your decision.
Compare Afterpay vs zipPay
| Afterpay | Zip Pay | |
| Credit limit | Starts at $500 and gradually increases or decreases based on good or bad spending behaviour. | From $350 up to $1,000. |
| Interest | No interest. | No interest. |
| Repayments | To be made over 6 weeks. | To be made 1 calendar month after you receive your statement. A monthly account fee will apply if the balance is not paid by the due date. |
| Payment instalments | 4 instalments, paid every 2 weeks; 25% of the price is paid upfront. The option for no upfront payment is available for Platinum and Mint tiers and eligible accounts in the Pulse tier. | 3 payment schedules are available. The custom schedule allows you to pay however much you want according to your schedule. If you don’t pay the balance by the statement due date, the monthly account fee will come into effect. You’ll have to pay at least a minimum of $40. The smart schedule calculates your repayment amount to enable you to pay your bill faster and keep the monthly fee down. With the fee waiver schedule, you automatically pay the monthly balance to avoid the monthly fee. |
| Upfront and ongoing fees | None. | A monthly account fee of $7.95 may apply, depending on your payment schedule and if you repay before the statement due date. No fees will be charged for additional payments. |
| Late payment fees | The late fee starts at $10 and is never higher than 25% of the purchase price or $68, whichever is less. | A $5 late fee will be charged if you don’t make at least the minimum payment each month. This will be charged 21 days after your due date. |
| Payment flexibility | The number of instalments cannot be changed, but you can make custom payments and pay more or less than the payment due. This feature can be accessed only on the website. | You have the option of changing the frequency of your repayments. You can change it to weekly, fortnightly or monthly, so long as it covers the minimum amount owed. |
| Sign-up | Via app for in-store and online shopping. Registering prior to online shopping is not required; the account can be created afterwards. | You can sign up for Zip Pay online. |
| Find out more | Read the full review | Read the full review |
| Eligibility | Afterpay uses a mandatory ID verification process. To qualify for Afterpay, you must: ✔️ Live in Australia. ✔️ Be over 18. ✔️ Have a valid and verifiable email address and mobile phone number. ✔️ Use a valid Australian credit or debit card. ✔️ Capable of entering into a legally binding contract. | To qualify for Zip Pay, you must: ✔️ Be over 18. ✔️ Be an Australian citizen or permanent resident. ✔️ Have a verified Facebook, PayPal or online banking account under your name. ✔️ Have a good credit history. ✔️ Have a valid and verifiable email address and mobile number. |
| Credit check and score | No credit check. Late payments are not reported. | Zip Pay may need to perform a credit check to confirm you can make repayments. They could disclose if you’ve met your payment obligations and if you’ve committed credit infringements to credit reporting bodies. |
| Availability | Full Afterpay store list | Full zipPay store list |
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Ask a question
Can I get this zippy my name is Suzanne
Hi Suzanne, thanks for your inquiry.
ZipPay is a method of payment which allows you to receive your product now and repay over time.
Best,
Jonathan
How do i apply for this
Hi Suzanne,
To sign up for Zip Pay, you’ll need to meet the following criteria:
To sign up, you can create an account using your Facebook or PayPal account information. Once you’ve signed up with your basic information, you’ll be given approval within seconds, after which you can immediately begin buying with Zip Pay.
You can check out the full list of eligible stores for your reference.
Best,
Jonathan