Ann: Zip unlocks everyday payments with Tap & Zip, page-186

Am I missing something ?. Everyone keeps going on about retailers now not needing to sign up to ZIP so the revenue to ZIP in fees is reduced by that, but now you can use your ZIP account anywhere just by tapping so from a convenience perspective people might use their account more often and they can use it everywhere instead of just ZIP specific retailers.

I used to work at a computer retail store where the amount of people coming in seeking finance was huge. ZIP and Afterpay often came up but this retailer only offered Latitude as a financing option. Now people who have ZIP don't have to go through the long and tedious process of applying for another form of finance, they can just Apple Pay with their ZIP account and its done in a flash.

While the need for a retailer to sign up and the transaction fees might have less relevance and bring in less revenue, the sheer choice people now have with the convenience of tapping is huge, not to mention purchasing from overseas retailers with the virtual card option too. Being a revolving line of credit that is interest free means customers will be more prone to use it more frequently and thats where the money might come in. A coffee here and there might not bring in the bucks, but doing it all the time over a large period of time where you might have previously used another form of payment means the money goes to zip and if everyone does it, it could just make a difference.

I got a ZIP account 6months ago an Ive never used it, I just got it because im a shareholder and thought maybe oneday Ill use it once or twice, but now its loaded up on my ApplePay and im itching to use it and could use it as a budgeting tool where everything goes on it and Ill just pay it off at the end of the month. If it wasn't on ZIP it would be going on another card, so why not ZIP instead.

Maybe im looking at this very simplistically but its a long game strategy they are playing in my opinion.