Global Buy Now Pay Later pioneer – Zip – arrives in the UK with omnichannel solution1 March, 2021 | by The Retail Bulletin
Boohoo, Homebase and The Fragrance Shop among first major partners. Leading Buy Now, Pay Later (BNPL) provider
Zip (ASX: Z1P) today announces its UK arrival with Homebase one of its first major brand partners – the first and only omnichannel BNPL provider for the home and garden experts.
Founded in 2013 in Sydney, Zip is one of the fastest-growing Buy Now, Pay Later players in the world. UK customers will now be able to check out with Zip and pay over four interest-free instalments, joining over 5.7 million Zip customers globally.
Zip’s flexible ‘Pay in Four’ product is accessible across many retail sectors, from homeware and entertainment to fashion, sport, health & beauty, groceries and travel. Other major retailers on board at launch include Boohoo and The Fragrance Shop, who join brands like Fanatics, Crystal Palace and Celtic Football Club, with many more in the pipeline. Zip’s global footprint will enable UK merchants to integrate once and access customers worldwide.
Larry Diamond, Zip co-founder and CEO says, “We’ve created a transparent, flexible and fairer digital alternative to credit cards and our ambitious UK expansion is a significant milestone in our journey.
“We process $7.5 billion in payments every year across Australia, New Zealand and the United States which only demonstrates the appetite for new, digital and flexible ways to pay. We’ve invested in the UK with a long-term strategy and are excited about our offer as domestic and global retail and ecommerce develops.”
Zip works closely and collaboratively with its merchants to seamlessly embed the Zip platform and deliver a first-class customer experience, while clearly communicating to customers how Zip works and the benefits ‘Pay in Four’ can offer.
A recent Zip survey* found that two-thirds (67%) of people who use or would consider using BNPL think it’s important to have a number of providers to choose from, and it’s large and occasional purchases that have the most appeal, with 47% claiming they would use BNPL for furniture or large appliances and 29% for home renovations and travel respectively.
Anthony Drury, Zip UK Managing Director says, “Zip will be one of the first to offer Buy Now, Pay Later both online and in-store in the UK providing the choice and flexibility that we know our UK customers want.
“Our global footprint means we have a leading technology and infrastructure to bring more products – already used by merchants and consumers in the US and Australia – to the UK in 2021. Our network also offers real growth opportunities for UK retailers to reach new customer markets.
“We’ve built a brilliant team of fintech and ecommerce experts in the UK and are recruiting at pace. We’re well positioned to drive our ambitious UK growth plans.”
Zip is a £3 billion company listed on the Australian Stock Exchange. Other brands partnered at UK launch include Alternative Airlines, Fashion Nova, The Game Collection, Hype, JTF Mega Discount Warehouse, Kiddie’s Kingdom, Marks Electrical, Never Fully Dressed, Oh Polly, Perkbox, ShopTo and Wave Direct.
For more information, visit
www.zip.co/uk
(20min delay)