I would be surprised if zip gets any of the merchant fee for the sale. My guess is it goes all to Visa otherwise it wouldn't really make sense for them to take a pay cut in order for some other company to get a share when visa is already accepted in the store. If Zip does get anything it would be marginal.
They are doing this to increase the balance of existing customers on zip money by allowing them to purchase at places zip isn't currently accepted and I dare say they will get new customers as a result of the service as well.
61% of their revenue is from customer fees but im willing to bet most of that isn't from the $6 monthly fee. It would be just like credit cards. Most would be from the small percentage of customers that max out the service and pay the minimum each month and end up paying high interest. This will help create more of those.
Its exactly how a bank gets their money by partnering with visa. they dont get the merchant fee. They get the customer.
I would be surprised if zip gets any of the merchant fee for the...
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