Zip

Country: New Zealand (NZ) | Payment Rail: bank_clearing

BNPL Market Adoption: 4%

Zip is a major Buy Now Pay Later platform in New Zealand, featuring 4 interest-free split payments widely used for e-commerce stores, homeware, electronics, and in-store shopping.

🔄 User Payment Flow

User selects Zip at checkout or generates in-store barcode in Zip app
User authorizes first 25% payment from linked card or account
Remaining 3 installments are debited fortnightly over 6 weeks
Instant order confirmation is provided to both buyer and seller

⚙️ Characteristics & Settlement

Instant Payment	YES
Supports QR	YES
Supports Recurring	YES
Supports Refund	YES

🛠️ Merchant Integration Steps

Merchant integrates Zip Checkout API or plugin
Zip assesses buyer risk in real-time and captures transaction
Zip disburses full transaction amount upfront to merchant bank account
Merchant ships goods immediately

🚀 Supported Payment Gateways & Acquirers (PSPs)

🔌 Stripe🔌 Adyen