Leading Buy Now, Pay Later (BNPL) provider Zip (ASX: Z1P) had announced its partnership with THG plc to provide interest-free payments over four instalments to customers shopping on THG sites and with brands using the THG Ingenuity end-to-end ecommerce platform.
In a multi-market agreement, Zip will be a payment option at checkout across THG’s sites in the UK, the US, Australia and New Zealand. THG customers across more than 30 brands such as LOOKFANTASTIC, Myprotein and Zavvi will now be able to check out with Zip’s flexible, interest-free ‘Pay in 4’ product.
Zip will also integrate with THG Ingenuity, allowing the growing number of brands choosing the platform for their own direct-to-consumer sales to offer Zip’s interest-free payment option. Through a simple integration and Zip’s global scale, retailers on the platform can seamlessly switch on Zip and serve customers internationally.
Founded in 2013 in Sydney, Zip is one of the fastest-growing Buy Now, Pay Later players in the world with over 6.4 million Zip customers globally. It works closely and collaboratively with merchants to seamlessly embed the Zip platform and deliver a first-class customer experience, while clearly communicating to customers how Zip works and the benefits ‘Pay in 4’ can offer.
With the rising consumer popularity of the flexible payment method, Zip is set to be one of the first to offer Buy Now, Pay Later both online and in-store in the UK.
John Gallemore, CEO of THG Ingenuity, says: “Our collaboration with Zip allows us to further expand the payment options that we offer THG Ingenuity clients and THG’s own brands, ultimately giving greater choice and flexibility to consumers anywhere in the world.”
Anthony Drury, Zip UK Managing Director, says: “We’re growing rapidly in the UK and our partnership with THG only confirms our intention. There is an increasing appetite among retailers to embed BNPL payment domestically and internationally. Our flexible products are accessible across many retail sectors from fashion, health & beauty and groceries to homeware, entertainment, sport and travel.”
