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Buy now, pay later nearly anywhere with Zip.
By Irfan Rosli
News editor
Zip is a buy now, pay later service for shopping. It breaks a purchase into installments that you pay back on a schedule, and the listing aims it at everyday costs, unexpected bills, larger buys, hotels and flights.
Payments are spread across two-week periods. The listing presents it as a way to cover a cost now and pay it off over several weeks or months.
The build we hold is Zip | Buy now, pay later 1.254.1 (APKS split bundle) for Android 8.1 and up.
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You can pay with Zip online or in person at places that accept Visa. The listing names flights, hotels, gas, groceries, bills, major retailers and neighborhood shops as examples.
In a store, you generate a virtual card inside the app and add it to Apple Wallet or Google Pay to tap to pay. If you prefer a card, you can order a physical Zip card and use it like any other card at the register. An origination fee applies to each plan, is prepaid with the first payment, and is shown at checkout. The listing says fees range from $0.50 to $124.00 depending on the purchase amount.
Pay in 2 gives two payments and the fastest payoff. Pay in 4 is four payments, and the listing calls it the most popular plan. Pay in 8 spreads a purchase over eight smaller payments, which the listing suggests for bigger purchases.
The listing gives a $400 purchase split into four biweekly payments of $102, with the first due at purchase, an $8 origination fee, a 34.75% APR and a total of $408. Not every customer qualifies for every plan, and different plans can carry different APRs for the same amount. Financing is issued by WebBank.
You can add bills to the app and split them into smaller payments. The listing names electric, water, phone, internet and streaming subscriptions as examples. The app tracks what is due and sends reminders before each payment.
Installment reminders are sent automatically. If life changes, you can reschedule an upcoming installment for more room, though the listing says a fee may apply for payment date changes.
The listing says Zip does not run a hard credit check and that applying and paying over time will not affect your credit score. You can check eligibility in minutes and receive an instant decision before you shop.
The estimated spending power shown in the app is a point-in-time figure, not a guarantee and not an open line of credit. Zip or WebBank may lower it, including after an unpaid balance or a past-due amount, and each transaction is reviewed separately for approval.