On the 12th of July 2021, amidst the changing habits for digital purchasing and an increase in customer demand for BNPL (buy now pay later) options in the Australian market Zip has launched a new partnership with Microsoft.
For the BNPL services, Australia serves as one of the largest global markets, wherein over 35% of the customers utilize interest-free installment payment plans. Zip states that the new partnership has been designed to give customers greater access to Microsoft products, particularly in the student market.
The customers sign up through the Zip App for single-use digital credit cards to use on Microsoft products. Through the Microsoft Store, customers can purchase office products as well as Surface laptops and tablets and Xbox games and consoles. The single-use digital credit cards will provide the customers with an interest-free payment solution throughout the year. The customers will have the liberty to choose between flexible weekly, fortnightly, or monthly repayment options.
According to Zip, the partnership will empower customers to do more with their money which will allow them to shop with confidence without compromising on performance and innovation.
Microsoft plans to extend the BNPL offers from customers to retailers and small businesses later in the year. Simultaneously, the launch of BNPL in other markets is also planned.
The deal with Microsoft follows the announcement of another deal Zip has made recently. Zip has joined the Exchange Partner Program of Adobe. This will allow thousands of eCommerce customers to avail themselves of BNPL offerings with confidence without compromising innovation & performance. Microsoft is obliged to extend the BNPL offerings from customers to retailers and small businesses later in the year, as well as launching BNPL in other markets.
The BNPL services of Zip will be available to thousands of eCommerce merchants using the Magento platform. Essentially, the Magento merchants will be empowered to buy now pay later capabilities that come with BNPL. These capabilities when seamlessly applied at checkout will help marketers to improve cash flow, increase order value and promote customer loyalty.
Apart from offering flexible BNPL payment options, Zip provides an array of solutions for businesses to grow which includes offering business loans and simple lines of credit. The sign-up process for businesses is simple and quick.
About Zip Co
Zip Co is a financial services provider company based in Sydney, NSW. The company is committed to creating delightful payment experiences for customers to empower them to own their every day. The solutions offered include Zip Money, Zip Pay, and Pocketbook.
Zip Pay is a friendly, interest-free payment solution for everyday spending and Zip Money is awesome for the bigger buys of life.
Customers love the freedom and flexibility offered by Zip and their services are preferred for providing the best customer experience at checkout. They also have an award-winning Pocketbook App that allows people to track, budget, and save. There are over 5,000,000 happy customers who choose to pay using Zip and they’re available online and in-store at more than 37,000 retailers.
Microsoft was found in the year 1975 and has headquarters in Redmond, WA. The company specializes in Business Software, Developer Tools, Home and Educational Software, Tablets, Windows Operating system, Windows Applications and Platforms, Smartphones, Cloud Computing, Quantum Computing, AI, ML, Laptops, Virtual Reality, etc. The vision of the company is to empower every person & organization on the planet to achieve more. Microsoft has always advocated the importance of a mobile-first and cloud-first approach, intending to drive digital transformation across the business. The company has a presence across 170 countries with about 114,000 passionate employees.