zipMoney is a premium buy now, pay later, interest free solution available on Neto. zipMoney allows you to buy products instantly and pay for life’s larger purchases over time, on your terms.
zipMoney for the customer
- Sign up usually takes 3 minutes and involves a credit check on the customer.
- Credit limits vary from $1,000 to $20,000 depending on the customer’s credit history and the limits offered by the merchant.
Interest free periods are set and negotiated with us by the merchant, for example: 3, 6, 9, 12 months interest free.
Designed for larger, more thought out and planned lifestyle purchases.
zipMoney for the merchant
- Merchant must have turned over at minimum $500,000 in the last financial year and have been trading for a minimum of 12 months to be approved.
- Credit limits that you can offer your customers are based off turnover.
- Interest free periods vary the percentage of the merchant fee rate - for example 3 months interest free at 3%, 6 months interest free at 5% and 9 months at 7% etc.
- Same business day 4pm settlement (the day the order is marked as complete/sent).
zipPay as a Buy Now, Pay Later solution for the customer
- $1000 digital wallet to use on one or multiple orders with either one or multiple businesses
- Sign up is in real-time usually taking no longer than 45 seconds
- No interest ever.
- Only $40 minimum monthly repayments.
- First 60 days no fees
If you have an outstanding balance after the first 60 days, there is an account maintenance fee of $5 per month (for example: if a customer used a full 14 months to pay back their order they would only attract $60 in fees at most).
Designed for smaller, discretionary purchases on the go under $1000 however customers can make a co-payment for any item priced over $1000. For example: for $1300 a customer could use $1000 from their zipPay digital wallet and $300 via debit card through our portal.
zipPay for the merchant
- No lock in contract
- 15c payment gateway fee per order
- zipPay take 4% of the total transaction value. (For example: if a customer made a $100 purchase through your business, we would take $4.15).
- Funds are settled at 4pm daily to the merchant’s bank account (the day the order is marked as complete/sent).