The deal represents the first Shopify partnership in Australia with a digital wallets platform, with the Canadian tech company looking to capitalise on the “tremendous take up of alternative payments at the checkout as millennials and other customer segments seek better ways to pay”
“We are excited to partner with Zip, a leading Australian consumer finance company in offering interest-free payment choice at the checkout of thousands of our Australian retailers,” said Paco Suro, GM payments, Shopify.
Shopify’s e-commerce platform has over 377,500 businesses globally.
Larry Diamond, zipMoney founder and CEO, said the partnership will accelerate the growth of its digital wallets across Australia.
“Our aim is for Zip to be everywhere people shop, providing consumers with interest-free flexibility at the checkout,” he said.
Zip said it will focus on Australian small businesses, where there are 2.5 million businesses seeking to sell goods and services both online and instore.
Shopify has strongly supported the transition of this community to the digital world.
“We have seen the tremendous take up of alternative payments at the checkout as millennials and other customer segments seek better ways to pay,” said Suro. “A partnership like this, provides enormous value to our merchants and their end consumers.”
It’s the second major deal announced by Zip, following its partnership with Australia’s largest online payment gateway, eWAY, which processes over 25 per cent of Australia’s eRetail payments.
The partnership will see the roll out of the zipPay and zipMoney ‘buy now, pay later’ digital wallets as core offerings for tens of thousands of online retailers in Australia.
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