Zip Pay
- Interest rate (p.a.)
- 0%
- Min. loan amount
- $350
- Max. loan amount
- $1,000
Summary
Get a 0% interest line of credit with a flexible repayment schedule and without a credit card. But as with all buy now pay later services, watch your budget.
Zip Pay is a buy now pay later product offered by thousands of stores across Australia. With Zip Pay, you'll get a credit limit up to $1,000 and have the ability to pay later in regular interest-free instalments, no credit card required.
Zip's payment plans are flexible, allowing you to pay off your loan weekly, fortnightly or monthly, with a minimum monthly payment of $40.
Pros
-
Up to 60 days fee free repayments
-
Flexible repayment plans
-
Simple sign-up process
Cons
-
Late fees apply
Details
Product details
| Product Name | Zip Pay |
| Interest rate (p.a.) | 0% |
| Interest rate type | Fixed |
| Min. loan amount | $350 |
| Max. loan amount | $1,000 |
How does Zip Pay work?
You can start using Zip Pay after going through the quick sign-up process. Once you’ve signed up and been approved, you can make purchases in two ways:
- Online. Using the app you can find the store you want, add items to your cart and then pay using Zip at the checkout via a single-use Visa card.
- In store. You can add a Zip card to Apple Pay or Google Pay to use Zip Pay at any contactless payment terminal. You can also sign in to your account and At any participating Zip Pay merchant, sign in to your account and select Zip Pay as the payment method during checkout.
- For bills. You can pay any BPAY biller using Zip Pay.
Once you’ve made a purchase, you choose how you'd like to repay. You can choose a weekly, fortnightly or monthly repayment schedule. A minimum monthly payment of $40 is required.
To avoid the $9.95 monthly fee, you need to pay off your purchase by the end of the month you receive your statement. You'll receive your statement on the first day of the month following your purchase (which is why you get "up to 60 days" fee free). After this date, a $9.95 monthly fee will be added to your outstanding balance.
All payments are 100% interest-free and you can sign up for direct debit so payments are made automatically from your bank account or credit card according to the repayment schedule that you’ve chosen.
Need more than $1,000? Find out about Zip Money
Features of shopping with Zip Pay
- Interest-free. Zip Pay doesn’t charge any interest on your transactions or outstanding balance. Instead you pay fees if you miss a payment, and a monthly account fee that you can avoid by paying off your purchases in full.
- Low (and avoidable) fees. The $9.95 monthly fee applies only at the end of the following month from the date of your purchase. To avoid this fee, simply pay your purchase back in full before this date. A late fee of $5 applies if you do not make your minimum repayment within 21 days of the due date.
- Credit limits. Zip Pay offers a credit limit between $350 and $1,000. When you apply, the strength of your application will determine your maximum credit limit. This is based on the information you provide.
- Instant use. Once you’ve completed the quick sign-up process and are approved, your Zip Pay account is immediately available to you. To activate it, you just need to verify the SMS code, link a payment method and accept the T&Cs.
- Available at thousands of stores across Australia. Zip Pay is available at thousands of stores across Australia. And with the Zip card in Apple Pay or Google Pay, you can shop just about everywhere.
- Very flexible repayment plans. As long as you meet the minimum required $40 monthly repayment, you can set up repayments as you like. You can choose to pay off your loan weekly, fortnightly or monthly for any amount you choose.
- Automatic deductions. You can set up a direct debit to automatically deduct repayments from your bank account or credit card according to the repayment schedule you’ve set up.
- Tap to Pay. With your Zip account you can use your phone to tap and pay for everyday expenses like petrol or groceries. This feature can be used anywhere contactless transactions can be made.
What do Australians think of Zip Pay buy now pay later?
- 4.27/5 overall for Customer Satisfaction - higher than the average of 4.17
- 4.71/5 for Trust - higher than the average of 4.38
- 4.14/5 for Customer Service - higher than the average of 4.08
Based on Zip Pay buy now pay later scores in Finder's 2024 Customer Satisfaction Awards.
How much will this cost?
Zip Pay doesn’t charge any interest on your balance. In addition, there are no establishment or annual fees.
- Initial fee-free period. No fees are charged during your first billing cycle. The billing cycle runs from the day you’ve made the purchase until the end of the following month for a maximum duration of 60 days.
- Minimum required $40 monthly repayment. Although this isn’t a fee, Zip Pay does require a $40 minimum monthly payment to be made towards your balance each month.
- Monthly repayment for a limit more than $1,000. You will need to make a minimum repayment of $80 each month if your credit limit is over $1,000 with Zip Pay.
- Monthly service fees. After the fee-free period, if you don’t pay your balance in full, you’ll be charged a flat $6 service fee on the first of every month that you have an outstanding balance.
- Late fees. Zip Pay may charge a late fee of $5 when you’ve made no repayments for more than 21 days (not including the initial fee-free period).
Signing up with Zip Pay
To sign up for Zip Pay, you’ll need to meet the following criteria:
- Be an Australian citizen or permanent resident
- Have a valid and verifiable mobile phone number and email address
- Be at least 18 years of age
- Have a verified Facebook, PayPal or online banking account in your own name
- Have a good credit history
Once you’ve signed up with your basic information, you’ll get a response within seconds, and after approval you can immediately begin shopping with Zip Pay.
Should you offer Zip Pay (for store owners)?
As a business owner, offering Zip Pay or any other interest-free payment service as an option at checkout can have a range of benefits and a few potential drawbacks.
Pros
- Increased sales. You'll have access to Zip's customer base who appreciate the convenience of Zip Pay. And businesses that currently accept Zip have seen a 30%+ increase in sales volume.
- Risk-free. Because Zip is covered for credit fraud, you're guaranteed payment after a transaction goes through from a customer.
- Same-day settlement. Zip ensures that every transaction that has gone through your business by 4pm is settled and paid the same day.
- No setup fees. There are no setup costs, ongoing account fees or lock-in contracts.
Cons
- Transaction fees. You'll be charged a maximum of 30 cents per sale. The actual fee you'll be charged is dependent on Zip's assessment of your business.
- Commission fees. You will be charged a merchant fee per sale. This will depend on the interest-free period you offer your customers. For example, if your merchant fee is 4%, for every $1,000 processed through Zip, you will receive $960.
- Lower credit limit. Zip Pay has a lower credit limit than Zip Money or some other interest-free payment providers, so you won't be able to make sales over $1,000.
Have more questions about Zip Pay?
How safe is Zip Pay?
Zip Pay uses advanced Secure Socket Layer (SSL) encryption along with two-factor authentication on all purchases to protect your personal information and transactions.How do I avoid fees?
Repay your purchase within the initial period (up to 60 days) to avoid the $6 monthly fee.
What's the difference between Zip Pay and Zip Money?
As mentioned above, Zip Pay has a credit limit of up to $1,000 and is always interest-free. Zip Money, on the other hand, is a line of credit for larger amounts of $1,000 and above. Zip Money offers customers a guaranteed 3 months interest-free and up to 36 months with some retailers.
How does the online account work?
You can sign into your Zip Pay shopping account to view transaction reports, adjust repayment schedules, make additional payments, modify payment information and more.
All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.
Useless!!!
Months of unsolicited and unsolved waste of time. Very clownish Customer service
So far so good
Haven’t had any problems so far, love getting to purchase stuff for my new home that I couldn’t get straight away and be able to pay it off
I would give zero stars if I could.
I discovered my Zip account was in credit for some 500-odd dollars last October. I was unable to have that amount refunded to my bank account, and so I instead decided to use my zip account to pay for daily expenses and such.. and then to close my zippay account once I had used the credit up. Unfortunately, in January, I ordered UberEats using zippay and an error occurred. The merchants on UberEats all cancelled my orders (which happens sometimes) and so I kept placing orders. This placed authorisation holds on my Zippay account. I never ended up having an actual order delivered, all were cancelled. Unfortunately, despite UberEats advising that no charges were made and that the authorisation holds were returned, ZipPay did not recognise these as authorisation holds and my account went from being about $200 in credit to owing about $50. I have been in active communication with Zippay since 14 January and it has been a nightmare. I have had an issue since 4/1/2023, it is now 20/2/2023. They inform me that when I signed up for zippay I signed a form that says I must make a minimum $40 repayment a month. I am, unfortunately, experiencing financial hardship. I have requested assistance in not paying this amount, especially since my account should have still been in credit, and they have been rude, aggressive, unhelpful.
Worst ever! If your account is locked, they dont unlock your account even if you do what is asked! Very unfair!
I've been with Zip for a few years now, and over a year ago I had issues with payment as I missed a payment, then they tell me to make 3 months repayments a couple of times, then a further 1 month a few times and now after almost a year of no missed payments, they are telling me to do a further 3-6 months of repayments. All payments are not missed, and its still not good enough for them. They want my account paid in full before they will unlock my account or if they even do unlock my account. There's no point in using this company again if they don't see how I haven't missed payments and will not help or be considerate one bit. Afterpay and Humm are way better than Zip, as they are helpful where Zip is not. It's beyond ridiculous, and even Zip's respond time to is to wait a week or 2 before you hear back. If you are thinking of using this company, it may be good at first but once you miss a payment they judge you and don't help. If I could rate them a 0 I would.
The worst DO NOT use
The details they ask for are beyond intrusive. You have to give them access to all your accounts, assets and more. They have application fees and monthly account keeping fees No customer service. Avoid at all costs
Why Use Them When There Is FAR BETTER?
IF I could give them negative stars, I would! Startled awake at 4.38am by an unwelcome SMS gleefully congratulating me that I could now increase my account, what the?!?!?! Wasted an hour of my life trying to cancel my account online, then trying to get Customer Service on the phone (don't bother going down that route, no-one answers >15 minutes & hideous Muzak is mind-altering), and then emailing to ensure they remove every last piece of my information from their databases to ensure they cease & desist filling up my email inbox, sms'ing my phone etc. ALL TO NO AVAIL. If Zip do not follow my request, and persist in spamming me, I will be reporting them to the regulatory body who oversees & governs the behaviour of financiers. There are far, far superior companies of the same ilk as Zip out there, use them, at least they have real people who'll answer telephones, AND who don't charge monthly accounting fees etc.
Dont use this service
Zip Pay will gladly take all your private information details etc and make you jump thru a few hoops and give you absolutely no reason as to why they do not except you, even when you have a good credit rating this is an absolute appalling corporate company, never mind ZIP i will gladly take my business elsewhere and do everything in my power to warn others of the way you conduct yourselves, you are absolute time waisters and i hope you crash and burn.
Scam!
I signed up when it first came out, my legal contract has been changed multiple times & the customer service is non existent. I get no reply from any emails I send asking about transactions I did not make. On multiple occasions zip has taken twice my loan amount out of my account also. Don’t waste your time or energy.
So useful
When my children’s iPad died, of corse it was the week I had every bill coming. Zero chance of buying a new one for about a month. Enter zip. I’ve paid off the new one before my first scheduled payment was even due, and the kids got to use it before I’d have been able to save for it. Perfect for unexpected costs like this.
Not interest free, misleading the customer with monthly account keeping fee of $7!
Seriously? There are competitors such as AfterPay and PayPayl's pay in 4 which charges no account keeping fee allow you to pay off without interest being charged if you pay the scheduled installments. Will be deleting my ZipPay account not using them again
Elizabeth Finder
Journalist
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Nikki Angco
March 12, 2020
Hi Kady,
Thanks for contacting Finder and I hope you are well. I’m sorry to hear you were charged more than what you bought. It’s helpful to know that the minimum payment for Zippay is $40, this may be why your payment is $40. I suggest checking your Zippay account directly to see how you can pay for your item since it is below the minimum payment.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
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Christine
September 25, 2019
Hi,
I applied for a zip account and I added my credit card. A $1 payment was processed by Zip and then I was immediately told my application was unsuccessful. Why did they take the $1 before approving me? Will I get that $1 back?
Jeni Finder
September 27, 2019
Hi Christine,
Thank you for getting in touch with Finder.
Sorry to hear that your application was rejected. Kindly check your credit card completed transactions and check if there was $1 charged by Zip. If there was no account created, they shouldn’t charge you for the said amount. Kindly reach out Zip directly if it was charged successfully.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
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Justin
August 08, 2019
How long do I get too pay it off if I don’t do it in the first month or the second or third month? Is there a limit on how many months you get too pay it off?
Jeni Finder
August 09, 2019
Hi Justin,
Thank you for getting in touch with Finder.
Please note that Zip Pay requires a $40 minimum monthly payment to be made towards your balance each month. I suggest that you contact Zip Pay when it comes to extended payment.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
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Muhamer
May 20, 2019
can i pay my credit card bill via zippay?
Nikki Angco
May 21, 2019
Hi Muhamer,
Thanks for your inquiry!
You can pay bills from any biller that accepts BPAY payments with some exclusions such as vehicle registration, credit card bills, personal loans betting accounts and specific billers outside of our responsible lending guidelines.
Hope this was helpful. Don’t hesitate to message us back if you have more questions.
With care,
Nikki
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rick
May 02, 2019
Are you able to explain to me how to close my account if I decide too down the track
cheers
Bella
May 02, 2019
Hi Rick,
Thank for your inquiry.
You may need to contact Zip pay to request the closure of your account and provide your full name, DOB, and residential address. Please note that before you can close your account your outstanding balance must be $0.
I hope this information helps.
Kind regards,
Bella
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kady
March 11, 2020
I bought something on Amazon that costs $30 and used Zippay but they charged me $40/month for that which is more than the item bought.