Fatfish Fattening!, page-22

How do we make money on BNPL? When you get to the nitty gritty with ZipPay as a sort of example, this is how it happens.

There is a $40 fee up front whereby if the price is $1000 the company deducts this and pays the retailer like Harfey Norman $960. Now if your monthly payments don’t pay the account out in full (which they often won’t) and you don’t pay the residue it switches to Zip Money and the annual interest rate is 19-99%.

Now with the growth of millions of accounts this is serious money.

When you add on all our other add-on accounts we alone are going to make serious money with our rapid SE Asian build. So maybe think twice before throwing your shares away. Rome wasn’t built in a day but a different story when it arrived. We are not so far away. An opinion to think about.

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Fees & interest:

• Zip Pay purchases are interest free, always.
• For Zip Money, when the interest free period expires, the annual standard percentage of 19.9% applies.
• Any balance outstanding at expiry of interest free period for the purchase will be charged interest at the standard annual percentage rate, currently 19.9%
• The $6.00 monthly account fee is waived if you pay your balance by the due date.
• If there's nothing owing on your account, there's nothing to pay and no fees.

Repayments:

• Choose from weekly, fortnightly or monthly payments to suit your lifestyle.
• Repayments start from $40 a month and are based on your account's credit limit.*

Returns & refunds:

• If your item meets My Generator 's returns policy, the purchase amount

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DYOR,
ZIP PAY is currently $8.29