ZIP

1.45%

$1.70 zip co limited..

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Llumberjack

77 Posts.

44

19/01/20

17:06

Post #: 42459631
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Originally posted by comincon: ↑

As a customer I'd want to know why Zip pay states it is interest free yet charges a flat fee of $6.00 per month on whatever is owed? and an extra $5.00 if the minimum monthly of $40 is not met! That is essentially 7.4% annual 'interest' charge on a debt of $1000.

Also - the charge the merchant/retailer 4% fee for the privilege..... up front....that is 480 to the merchant while collecting 500 from the customer....( double dipping in my view...nice work if you can get it)

If you think about it....you pay $6 fee no matter what, right! SO...say your annual debt is only $200....(unlikely but possible) then your closer to 36% quasi interest cos your fee doesn't stop does it...no!

$500 annual debt ...= 15% quasi interest.......and still getting fees from the retailer.

Nice coin if you can get it....
I would think the model is hit the $1000 limit as it doesn't cost you anymore in fees and (from zips point of view) take as long as you like to pay it off.....lol
Why risk this quasi interest exposure across mulitple bnpl accounts!!!...thats nuts...well... throwing away your hard earned really!!! crazy!

Im an old fart and i do my sums....credit card is far better if you pay off on time!!!!

I hold this stock because 60% of users ( old figures) are under 35 yrsold and love it cos it gives the finger to the banks and is easy to onboard....Im not worried about additional regulation, won't happen.

It is a growth coin model for the moment based on nothing more than convenience, public opinion and ease of use...if it establishes itself quickly in os markets ...well yahoo $$$$, if i see a change in the trend ill jump out.
It may amend its business model for the better or may get taken over......ill just keep watching and skipping while it goes north - avoid kicking rocks at all costs.

DYOR

GLTAH

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It's only $6 per month if you don't pay it off in the 2 months... The same as credit cards so if you pay it off on time... No cost.

Z1P Price at posting: $3.82 Sentiment: Buy Disclosure: Held
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Last $1.70		Change -0.025(1.45%)		Mkt cap ! $1.909B

Open	High	Low	Value	Volume
$1.75	$1.77	$1.68	$16.19M	9.417M

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No.	Vol.	Price($)
1	5300	$1.70

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Price($)	Vol.	No.
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1.700	50000	2
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TA & charts, page-602

Nimy to raise $1.21M to explore 'newsy' WA targets

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Almonty locks in govt agreement for tungsten oxide plant in South Korea

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

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TA & charts, page-602

Top Stories

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SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Almonty locks in govt agreement for tungsten oxide plant in South Korea

ASX hits all time high out the gate on Friday trades following bullish US inflation data

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Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

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Immutep reports strong response rate from immunotherapies treating carcinomas

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News