Zip (formerly Quadpay) is a BNPL service provider in several countries, including Australia, New Zealand, the United States (formerly QuadPay), Canada, and the United Kingdom.

Through ZIP Pay, purchases can be split into smaller, equal installments, so you don’t have to pay the full price upfront.

• The total amount has to be paid in 4 installments.
• The first installment is paid directly at checkout, and the remaining three installments are due every two weeks until the total amount is paid.

Payments are automatically deducted from the debit or credit card used for the original payment, and Zip sends a reminder before each billing.

Zip may run a soft credit check that does not affect credit scores. Zip states that it does not rely solely on credit checks and does not have minimum credit score requirements.

Zip also offers Zip Money, a credit product for larger purchases. Zip Money’s credit limit is higher, with longer credit terms.

Zip Pay is for purchases under $1,000 and is interest-free. Zip Money is a service for transactions over $1,000. Zip Money is interest-free for three months only.

Zip serves 6 million customers across five contents and is offered by over 45,000 merchants. In addition, the company is publicly traded on the Australian Stock Exchange and is known as a pioneer in the Buy Now, Pay Later category.

Quadpay (Zip) was founded in 2013 by Larry Diamond (Linkedin) and Peter Gray (Linkedin) and is headquartered in Sydney. In September 2020, Zip acquired the US-based ‘Buy Now, Pay Later’ (BNPL) company Quadpay to grow its American footprint.

We rate the company on Green.