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Zip adds Australia’s largest shopping site eBay to partnership list
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Major buy now, pay later platform Zip partners with eBay, the #1 most-visited online shopping site in Australia
Zip Co (ASX:ZIP) has announced its new partnership with Australia’s largest online shopping site, eBay. The shopping site’s millions of unique monthly visitors will now be able to pay for their purchases with flexible instalments through Zip.
Eligible eBay customers can access up to $2,000 (interest free) with Zip Pay and up to $5,000 (interest free up to six months) with Zip Money. New, refurbished and pre-loved items are available from some of eBay’s most popular household names like Country Road, Myer and Peter’s of Kensington.
Post-pandemic, both companies identified the opportunity presented by the growing number of Australian consumers making purchases online versus at traditional bricks and mortar stores.
Zip found that on average, 60% of transactions were completed online in the last 12 months, and eBay in particular saw a rise in purchases in household essentials, work from home equipment and even collectible items. A 2021 study conducted by Zip also revealed that 59% of people who had used Zip in the last three months also purchased from eBay in the last 12 months.
Zip’s managing director for ANZ Cynthia Scott says the partnership made sense due to the clear connection between both brands.
“The connection between Zip users and their appetite to purchase from eBay is clearly there, so we’re very excited about this partnership,” said Cynthia.
“Zip is passionate about helping Australians spend with confidence on the things that matter most to them, and this alliance gives eBay shoppers access to fairer and more flexible ways to pay at check out – whether it be for everyday items using Zip Pay or bigger ticket items with Zip Money.
“eBay is also the most-visited online marketplace in Australia, known for working with companies that offer the best solutions for their customers – so we’re proud to deliver on our strategy of partnering with some of the largest enterprise names in the country.”
Early in October co-founder and global CEO Larry Diamond headed to the US to accelerate growth in one of its core markets.
The ANZ business has been cash flow positive for four years with a record profit recorded in FY22. Zip signed 400,000 net new customers during the period growing its base to 3.2 million, and it also signed huge enterprise merchants JB Hi-Fi, Qantas and Virgin Australia.
This article was developed in collaboration with Zip Co, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
