Westpac puts $40m into zipMoney

Alternative credit provider lands big bank backing.

buy now pay later

Westpac has taken a $40 million stake in listed fintech firm zipMoney, which provides credit that can be used for online and in-store purchases.

What is zipMoney?

zipMoney is a simple and convenient way to help you pay for things without needing the cash upfront or a credit card. When you sign up and are approved , you’ll receive an initial line of credit.

You’re then able to use zipMoney during the checkout process of any participating zip merchant. In addition, you have a default three-month window where you’re able to make repayments completely interest free.

Is it for you?