How zipPay can revitalise your business

You may have heard about the new wave of layby options sweeping Australia.

Today I’m going to break down one of these new tools and explain how it could help your business.


The reason I’m talking about zipPay is because it has an option for both service & retail, whereas it’s popular counterpart, Afterpay only is available for retail/product based business.

They are both purely for businesses who serve a customer, so you can’t use them if you are a business that serves other businesses.

Here’s the general idea

A customer wants to buy what you have got, but they don’t have the cash. Rather than add it to their mounting, and often maxed out credit card, they use interest free zipPay. The easiest description is to think of it as a fusion of interest free credit and layby. There are set, agreed repayments over 60 days, and a $5 monthly fee while the customer has a balance. The balance that they can apply for is up to $1000, over that requires a copayment at checkout. 

If they are a new customer online, they choose the zipPay option instead of Paypal or Credit Card, and then complete a quick sign up.

How quick? Watch this video:

Once they have their account, they checkout, and the goods are paid for. You receive a same day payment from zipPay (for all orders placed before 4pm). The minute you get the funds, you post the goods. The ongoing payments, fraud scare, and risk, is handled by zipPay. Also, they have built a simple refund system into the software, so you don’t have the headache of a new refund policy, it just straps on to however you normally do refunds.

The other reason I love zipPay, is you can use it in store. You simply log into the merchant system, that’s like a pos system, add an order, and enter the customers ‘store code’. Then the customer confirms the order on their phone, it’s applied to their account, and you are free to give them the goods.

Watch their video here:

Now, there are some pretty outstanding reports coming from stores that offer zipPay, including increases in conversion rates online of up to 30% and increases in purchase size of up to 40%.

The real reason this is something we are very excited by at Shop My Town is the obvious transformation we see for small, rural retailers. Often paying over 10% for finance options that are also difficult to apply for, we see zipPay as a service that makes them instantly more competitive in a rapidly changing market. 

Anything that closes the gap for our retailers has us frothing at the mouth.

We are integrating Shopify with the Shop My Town directory now, so our members can have access to zipPay, and testing our training and onboarding with a few select retailers and service based business.

I’ll keep you updated on any issues we come across, but this honestly looks like a fantastic option for our country towns!