Zip Pay

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Zip Pay

Zippay (Zip)

POS SOFTWARE

Zippay can now be directly integrated into our Westpac EFTPOS link. 

This may be useful for those that sell product through Amazon in particular as Amazon now accepts Zip.

The big plus, with zip is that by using it you are giving your customers the power to pay later interest-free with little risk to you. 

If you are interested let me know.

 

 

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The end of laybys

POS SOFTWARE

Christmas is coming, it is less than two months away and I was talking to a few clients who do a lot of laybys, their laybys are down, way down on last year. 

I decided to check with google trends, as to what the Australian market thinks.

Layby vs afterpay over the past three years

It is clear that a market shift is underway.  The figure is even bigger for "Buy now, pay later" model as I could not include zip because zip is a common term used for other things so it is fair to say that this yellow line should be twice that height. 

I decided to just look at the layby by itself and got this.

Layby interest over 3 years

The green line is the trend and you will notice that it is straight down. 

How are your laybys doing? Believe me, if you are doing well with them you are an exception.

If you are counting on using laybys this year, I doubt there will not be much. The closer it gets to Christmas, the worse it is going to get as laybys need time to work and the time is running out.

Every store needs now a "Buy now, pay later" option, it does not need time, you can pick when you want to use it, you are under no obligation and it costs you nothing to have it. Plus these, in general, are very good customers to get.

Zip customer analysis

 

We have arranged a very good offer from Zip for our clients, which includes a good rate, marketing information and signs as an introductory with no obligation to try it out. I suggest you look into it. Click here  if you want more details.

Note the recent announcement from one of our competitors that they are going to offer zip and afterpay too as well as oxipay, confirms that their customers are reporting the same thing and have similar needs to our clients.


 

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Disadvantages of direct bank deposit

POS SOFTWARE

Direct bank deposit

In an effort to reduce banking costs, some people have asked us instead of Zippay can they offer a direct bank account system as cash is slowly declining.

Payment methods Australia

The short answer is *YES*, maybe and no.

The first point is you do not want to create what we call any type of friction if someone wants to pay with a particular payment method then I suggest you give them that option, particularly as it is an easy and cheap option plus it does offer what every business needs to provide a fee-free way to pay.

The problem is that today people want an immediate solution, that is the problem with laybys nowdays too which is on a steep decline. 

A direct bank deposit takes time, while the other methods like PayPal, Credit cards, Afterpay or ZipPay are instant.

 

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Zip Intergration with PosBrowser

POS SOFTWARE

PosBrowser has launched a new facility for you and your clients. We now offer a Zip Pay payment type directly built into the PosBrowser register.  This week we were joined by Andreas Collier from Zip pay to discuss and demonstrate how easy it is to setup and use as well as answering a bunch of question you may be interested in hearing. 
Watch the video and see what you think. 
Also as a special offer to PosBrowser user, Andreas will personally handle the process of getting your ZIP PAY account activated and the details you will need for integrating ZIP with PosBrowser.   Just contact him via email [email protected] 

If you find this video helpful or you have any question please reply in the comments. Also check out our blog often to see what the next webinar is going to cover in our weekly sessions or make a suggestion for a topic you'd like to hear more about. 

 

 

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The rapidly growing "Buy now, pay later" market.

POS SOFTWARE

The big trend in retail now, are the newer cards that allows a customer to buy and use a product immediately, and then pay for it later with no interest. This market is dominated by three main players Afterpay (which is by far the biggest), Zippay (which is the talk of town at the moment since Westpac put $40 million dollars into it) and Oxipay (which I know little about other then it is in Tasmania). Paypal is unknown whether it will enter this marketspace. As you can see from this graph, there is as much interest in Afterpay as Paypal in Australia now.

 

 

To give you a feel of the size of this market, Afterpay in the second quarter of 2016, had over 375,000 customers who spent $100m and to give you a feel of the growth of this market, that was more than double the $42m people spent with Afterpay in the previous quarter. Growth is expected, for example, overseas in Sweden such cards have about 60% of the market.

With our Point of Sale Software, you have the technology to get Afterpay.

The system works like this. A customer buys and gets an item immediately from a retailer paying with Afterpay. The retailer gets paid straight away minus a fee of about 4%. Then the customer pays Afterpay over an eight-week period with no interest. Zippay is slightly different in that a person has 30 days to pay with no interest, and if they wish, they can take longer to pay but with an interest rate which is a fraction that VISA charges.

Afterpay also runs promos for their merchants which have been very successful, The Afterpay Day on the 30 August, broke retail trade records with $15 million of sales with more than 70,000 orders were processed. See here for more details. {Link was removed}



If you want to know more let me know.