I'm not sure what you've outlined is how Tap & Zip works - if a user uses it in-store at an integrated merchant there is absolutely no reason for them not to get their 4%. I can't prove this is the case, but let me break it down:
- You and I go into a shop in a mall somewhere to buy shoes - the merchant offers Zip (ie. is an integrated merchant) - You go up to pay, you ask to pay Zip Pay, the staff member scans your phone, sale is successful, Zip pay the merchant minus their fee, you have $x added to your Zip Pay account - I go up and say I want to use Tap&Zip, the staff member gestures to the POS, I tap it with phone, sale is successful, Zip pay the merchant and because Zip recognises the merchant as an integrated merchant they deduce their standard fee. I have $x added to my Zip Pay account.
Tap&Zip is simply a conduit into your Zip Pay account, nothing more. It would have been more work for Zip to build a system that didn't deduct their standard fee from an integrated merchant, because in that scenario integrated merchants would be subject to two different tiers of fees depending on whether the customer uses Zip Pay or Tap&Zip. I'm confident they're getting their 4% fees from Tap&Zip instore with integrated merchants. If they're not the relevant Product Team should be fired.
Z1P Price at posting:
$5.31 Sentiment: Buy Disclosure: Held
(20min delay)