Wow this is big news and something I will definitely be using once rolled out.
As far as I understand the single use Zip card for 'shop anywhere' through the app is only available for online purchases.
This means that Zip is now offering a product that would compete directly with Flexigroup's 'Bundll' which also offers the same ability to tap and pay anywhere 'in store' using NFC (except I understand that they partnered with Mastercard for that feature).
While this probably wouldn't be a big money spinner in terms of margin (as I'm guessing Zip will just take a cut of Visa's interchange fee) this will be a huge feature for Zip to increase their customer base plus also turbo-charge transaction volume, as current and new customers can now use it on daily spend such as petrol, groceries, healthcare, etc.
For those that have received the invitation to trial this feature I'd be curious whether purchase of certain products is restricted (ie alcohol) in the Terms and Conditions?
Wow this is big news and something I will definitely be using...
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