Zip enables Buy Now, Pay Later in the UK

Thursday 25 November 2021 11:18 CET | News

Buy Now, Pay Later (BNPL) provider Zip has enabled shoppers to buy now and pay later in-store using their mobile.

Zip’s Tap and Pay solutions reportedly allows shoppers to pick up what they want in-store and pay contactless at the till. They would only require their virtual Zip card in their digital wallet. Tap and Pay with Zip is being rolled out nationwide, starting first in Homebase, The Fragrance Shop, Jollyes - The Pet People, and Hype clothing, with more in the pipeline. The BNPL provider has already introduced similar technology in the US, Australia, and New Zealand. 

One in five UK adults (21%) have used Buy Now, Pay Later in the past 12 months, but in a boost to the high street, research commissioned by Zip found that 12% of adults under 35 would be more likely to shop in store if a Buy Now, Pay Later service was on offer. The research also found that one in ten (13%) say they plan to use Buy Now, Pay Later this Christmas (2021) to spread the cost of gifts, with the most common purchases among UK adults being clothing, grooming, and electricals. The most common reasons for using BNPL were the ability to spread the purchase over time (49%), buy items interest-free (35%), and manage cash flow (35%). 

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Keywords: BNPL, mobile payments, product launch
Categories: Payments & Commerce | Mobile Payments
Countries: United Kingdom
This article is part of category

Payments & Commerce