Financial service provider Zip Co has teamed up with Google Pay to expand the capabilities of merchants in the US.
Through the new partnership, businesses that accept Google Pay will be able to integrate the Zip Pay-In-4 instalment option, which is issued by WebBank.
The activation comes at a time when Buy Now, Pay Later (BNPL) services are enjoying an increasing demand from customers due to rising living costs and inflation. Shoppers will be able to enjoy Zip’s new offering starting from January 2024.
Zip Co-Founder and company CEO for the US Larry Diamond, commented: “Consumers are increasingly seeking flexibility at checkout, while merchants are looking for innovative ways to boost sales and enhance customer loyalty.
“With Zip available in the Google Pay checkout experience, we are bridging a gap and providing a flexible credit product for the many consumers overlooked by traditional credit products.
“By offering Zip payment solutions through Google Pay, we’re empowering consumers with more choices while providing merchants with a powerful tool to increase conversion rates and build lasting customer relationships.
“It’s a win-win scenario where convenience meets commerce, fostering a more dynamic and responsive shopping experience.”
A study on BNPL by Zip further highlights the growing demand for flexible payments, revealing that approximately 41% of Americans say that BNPL options have helped them manage their finances better. Zip’s partnership with Google Pay will look to further tap into this trend.
Drew Olson, Senior Director at Google Pay, added: “We are always looking for ways to give people a more helpful checkout experience when shopping on Google.
“By teaming up with BNPL providers like Zip, we are able to give Google Pay users another payment option when checking out, while providing merchants with another tool to drive their growth.”