Zippay Introduces Shop Anywhere (Lets You Use Zip at Shops That Don't Accept Zip)

jimbobaus on 11/03/2020 - 08:34
Last edited 14/03/2020 - 20:04

Now i know this will be contentious as so many people on OzB hate any forms of credit but i thought i would share

As of Yesterday (10/03020)
You can use your ZipPay/ZipMoney account at any retailer that accepts "Mastercard"
You shop through the Zip App and a single use Mastercard is produced for your purchase
this is then charged to your Zip Account and you can pay it off as you would any Zip Purchase.

Limit is $1500 in a single Transaction
Site must accept Mastercard
Standard terms apply, you can repay the entire amount before the end of the following month to avoid fees
$6 per month for each month money is owing (after the initial free period)

This is available via the App only.
Refunds will be processed to your account as usual if needed. The Mastercard is single use but will remain linked to your account in the backend to ensure that refunds are processed if needed.

I for one only use Zip for Amazon as it allows me to make purchases without needing my CC on me at the time.
I have never paid the $6 fee in my entire time with the service
Zip may not be for everyone, but for those that use it you can now use it at places like JB etc

https://help.zip.co/en/categories/94-shop-everywhere-with-zi…

Financial

Related Stores

Zip
Zip
Third-Party

Comments

  • Flying Ace on 11/03/2020 - 08:37

    I sue Zip too - good to know, thanks!

  • cloudy on 11/03/2020 - 10:36

    I have nothing against credit, and using credit. But I do have a bug against high cost credit, either to the consumer or the retailer. A bit like pay day loans can crush a individual with high interest rates, BNPL firms charge exorbitant fees to the retailer.

    Think EFPTOS, keeps about 20c for every $100, credit card (visa and MasterCard) takes about $1 for every 100. BNPL takes up to $7 for every $100.(though zip is reported to keep around 3%, but afterpay takes up to 7-8%)

    Inevitably, this high cost will be filtered down to consumers one way or another.

    So I encourage all think about your favourite shop next time you purchase.

    • jimbobaus on 11/03/2020 - 11:00

      Zip takes 2% and they unlike Afterpay etc allow this to be passed on to the consumer
      most do not pass it on, some do
      for example i know mwave and centre com charge a 2% surcharge when using zip

      i get your point completely and support legislation changes to prevent companies like Afterpay having conditions that do not allow the % to be passed on.

      • T-man on 11/03/2020 - 23:02

        Zip charges me 4.5% how did you get 2% ? And Afterpay charges me 6.5%. Also, Afterpay never returns fee to the retailer when refunded.

        • jimbobaus on 12/03/2020 - 08:21

          Zip Pay 1.75%
          Zip Money 6m 1.75%
          Zip Money 12m 2.25%
          Zip Money 18m 3.0%
          Zip Money 24m 4.0%
          these are our rates

          I suppose its how you negotiate

          • mike82 on 06/10/2020 - 05:26

            @jimbobaus: So by using this single-use card, Zip can't charge retailers fee?

            • jimbobaus on 06/10/2020 - 11:15

              @mike82: its processed like a normal credit card by the retailer. So no fee charged by Zip

              • [Deactivated] on 15/10/2020 - 16:04

                @jimbobaus: Or more to the point they get it paid as interchange.

  • ozhunter on 11/03/2020 - 12:27

    Any link or email to confirm this?

    • jimbobaus on 11/03/2020 - 12:33
      +1

      Its in the latest version of the app, popped up when i did update

  • elusive on 11/03/2020 - 14:25
    +2

    Hm, if it's actually single-use that's quite interesting. I've been looking for a card provider who does virtual card numbers (e.g. for online purchases) but no one seems to provide that to consumers in Aus.

    • Kyle-K on 11/03/2020 - 23:09
      +3

      Yeah if you are starting today there's pretty much only the Velocity Global Wallet that's generally available. This Spreadsheet also you might find useful. I'm always keeping these up-to-date.

      However, if you want to use a pay later service many of them will give you a virtual card to pay for the goods. This is most likely why Zip's also joining the party. Two to take a look at would be "bundll" A brand launched by FlexiGroup and "Klarna" who is launching here in Australia with a partnership with the Commonwealth Bank that's recently become one of their investors.

      • elusive on 12/03/2020 - 00:46
        +2

        Ooh, thanks. Here's hoping that spreadsheet gets more green soon.

        I think I looked at Revolut a while ago but it was already on hold at the time. The Velocity one looks interesting though, I'll have to look into it.

        Really wish the big banks here would start offering it. I'd rather have it on a standard credit card/account than a pay later.

        • Kyle-K on 12/03/2020 - 01:02

          Ooh, thanks. Here's hoping that spreadsheet gets more green soon.

          Unfortunately, as someone that's been tracking this functionality for quite awhile I don't think it's getting any greener any time soon, unfortunately. It just doesn't seem to be something that on Australian consumers radars.

          I think will be more likely to see this

          I think I looked at Revolut a while ago but it was already on hold at the time.

          Yeah as I said here today I'm hoping they get things moving again in the next 1 to 2 months we'll see what appointing someone locally to handle operations will achieve.

          The Velocity one looks interesting though, I'll have to look into it.

          Yeah it's the one that's been around the longest.

          Really wish the big banks here would start offering it.

          Some of them already do but it's only available to corporate/businesses.

  • MrHyde on 11/03/2020 - 15:16

    Can you pay off your Zip account using a credit card and does that accumulate points?

    • jimbobaus on 11/03/2020 - 15:28

      yes you can link your Zip to a CC
      Not sure about the points though

      • thomalfa on 20/10/2020 - 10:55

        solely depends on your CC terms. Mine does as it acts like purchasing…

    • modsec802 on 11/03/2020 - 21:25
      +1

      Paying debt with debt - what could possibly go wrong?

    • thomalfa on 20/10/2020 - 10:55

      solely depends on your CC terms. Mine does as it acts like purchasing… even though pay off debts with debts…

  • wayfastwhitie on 14/03/2020 - 10:59

    I can't find any information about this other than in this thread. I can even see any info in the app. What am I missing (apart from eh obvious)

  • Debuting on 06/04/2020 - 20:06

    Does this work anywhere? Has anyone tried it for prepaid mobiles? Is there a minimum spend?

  • [Deactivated] on 15/05/2020 - 17:42

    I just used to sign up for a subscription service, I will just try it to see if I like. I paid 1 dollar on the first subscription month. Worked well, you need to download the app, look for the store inside the app, if it's not on the list it will google it for you. When filling up the payment details you can click on the bottom to get a single use Zip Pay virtual card.

  • coolsteps on 13/07/2020 - 16:26

    i guess this can only be used online not instore? ref https://www.klarna.com/au/customer-service/csc/about-klarna/
    has anyone tried klarna ghost card yet?

    • lovebargain87 on 15/10/2020 - 15:00
      +1

      you can use zip instore now with Google Pay if stores accepting paypass

      • barcer on 18/10/2020 - 13:32

        How does one do this? I had a look in my Zip app and there was no option for NFC payments.

        • Neoika on 19/10/2020 - 13:51

          Add to GPay. Maybe lastest version required.

  • Neoika on 08/09/2020 - 20:58

    First time pay with the Single use MasterCard in the Zip for Amaysim Cashrewards deal today.

    The FAQ below seems incorrect as the two payments $1 pre-authorisation and $20 went through successfully.

    https://help.zip.co/hc/en-us/articles/360001583836-What-is-t…

  • coolsteps on 31/10/2020 - 12:36
    +1

    for zip i just added account to apple wallet but didnt use it for about 1 week and then you might be lucky like me and get an offer of 5% cashback for purchases under $100 and $3 if over. however i have to reach $50 rewards target to get cash back that's 1k spend by jan 8th which should be achievable for most . wonder if i dont meet their rewards target will i still get the cash back at end of promo?
    anyone else get an offer of 5% cashback rewards for adding zip to apple pay? i wonder if its targeted to those that have added their account to apple pay and haven't used it yet or if anyone got it offered on Gpay too?

  • macr0hard on 28/11/2020 - 23:09

    Can you pay back your zip balance with your CC and will that be treated as a cash advance by your CC?

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