About Zip

Zip is an Australian company created in 2013. It was not until June 2017 when Zip entered the New Zealand market. Now available for Kiwis with a valid ID, Zip offers an interest free payment solution for its users. The payment itself is accepted both on Zip in-app stores and retailers working together with Zip.


How Does Zip Work?

Signing up and paying with Zip is simple. First of all, you are required to sign up by submitting the following details: Name, Date of Birth, Address and a Valid ID or driver’s license.

After submitting the details above, Zip will confirm your application by checking on the following status: Residency (you have to be a New Zealand resident to sign up for Zip NZ), Debit or credit card (New Zealand registered Visa or Mastercard) and Credit history.

There are no specific requirements on minimum credit scores in order for your registration to be accepted. However, most people with positive credit scores managed to get their application accepted.

Zip accepts both debit and credit card payment, but it has to be a New Zealand registered Visa or Mastercard. With every payment you made, there is a maximum limit of 6 weeks for each repayment. Zip will then set an automatic payment or a direct debit depending on your preferred card. You can also pay ahead of the due dates by doing it manually on their official website, but do note that they do not accept bank transfers.

Where Can I Use Zip?

Zip works similarly to other payment services, you can use it whenever it is accepted, which includes the following:

Zip in-app store – You can find stores and retailers selling their product on Zip official website/app. While it is not necessarily a marketplace, you can find a wide variety of products, especially fashion items.

Online store partnering with Zip – Zip is currently not available for offline stores in New Zealand. However, you can use Zip in any partnering online store. The process itself is similar as paying with another payment method, just simply follow the navigation from each website.

Important Notes

  • If your cards are denied or have insufficient funds when a payment is due, you will receive an $8 penalty. You have a week to fulfill your payment or another $8 will be charged for every additional week.

  • You have your consumer right to return your Zip-purchased product and ask for full refund.

  • Your payment schedule will be adjusted upon a refund, but it may take up to 7 business days for your money to be returned.

Overall, Zip is a great payment service that offers zero interest and 6 weeks repayment limit. While we do recommend Zip especially for online shoppers, please make sure to use Zip wisely to prevent extra charges and penalties.

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