Home > Industry > Westpac Pumps $40m Into Digital Payments Player Zip

Westpac Pumps $40m Into Digital Payments Player Zip

Westpac has pumped $40 million into ASX-listed digital payments company Zip for 17.11 percent equity, and the two companies have formed a strategic relationship to explore the rollout of Zip’s products and services across Westpac’s payments network.

Zip operates under the zipPay and zipMoney brands. ZipPay is an online shopping wallet with a credit limit of up to $1000, always interest-free. ZipMoney is a line of credit for larger amounts, generally $1000 and above. It offers three months interest-free across all products – and up to 36 months with some retailers.

The company claims to leverage big data in its proprietary fraud and credit decisioning technology to deliver real-time consumer responses.

Zip CEO and MD Larry Diamond hailed the deal with Westpac as “a serious validation of the success of the Zip platform and offering,” and said i



You may also like
Australia Post Reaches Deal With Banks For More Funding And Rural Services
Westpac Warns Meta Over Failure To Control Scams
Westpac And Optus Partner On Anti-Scam App Feature  
CrowdStrike Took Down Australia And Half The World Now Facing Massive Compensation Claims
Buy-now-pay-later Zip Rumoured For Takeover

Popular Posts

Disney Hikes Subscription Prices Ahead Of ESPN Arrival
Latest News
/
/
Nintendo Alarmo Available To Pre-Order At JB Hi-Fi
Latest News
/
/
Is Spotify subscription prices set to increase in Australia?
Spotify To Launch ‘Music Pro’ Streaming Service
Latest News
/
/
Rumoured iPhone SE4 Image: Majin Bu
Rumour, iPhone SE 4 To Be Renamed iPhone 16e
Latest News
/
/
JB Hi-Fi Stock Back Up, Temple & Webster, Audinate Stocks In Play
Latest News
/
/

Digital Magazines

Recent Post

Disney Hikes Subscription Prices Ahead Of ESPN Arrival
Latest News
/
//
Comments are Off
Disney+ subscription prices in Australia are set to rise, effective next month, as the streaming platform gets ready to host...
Read More