Here are some frequently asked questions regarding ZIP payments
What is ZIP?
ZIP is a payment platform that gives you the choice to pay for your purchases via 4 simple, interest-free installments.
What does it cost to use ZIP?
If payments are paid on time, there is never a cost to using ZIP.
Are there late fees?
A $7 fee is charged on a late payment that’s overdue. ZIP also reserve the right to charge a further $7 fee, if the payment remains late 7 days after the original payment due. $14 is the maximum amount that will ever be charged for an individual order.
Is there a hard credit check?
No. ZIP never performs a hard credit check and there is no impact on your credit rating by using ZIP.
How do refunds to the customer work?
As soon as a return is approved and processed, the refund is immediately processed by ZIP.
If the refund is in full, the customer will have any funds paid to-date refunded immediately to their card and all future installments will be cancelled.
If the refund is partial, the refund amount will be applied to the total purchase amount, starting with the last installment.
For example, if a purchase was for $100 (4 x $25 installments) and a partial refund of $25 was issued by the merchant, ZIP would cancel the 4th installment. If a refund of $50 was applied, ZIP would cancel the 4th and 3rd installments.
What payment types are accepted?
ZIP accepts all U.S. credit and debit cards (including American Express and Discover).
However, ZIP cannot accept credit or debit cards from overseas or pre-paid debit cards.
Who can use ZIP?
In order to have an account with ZIP, you must:
Live in the U.S.
Be at least 18 years old
Have a valid and verifiable mobile number
Use a U.S. credit or debit card to make a purchase
Why wasn’t I approved by ZIP?
ZIP assesses multiple information points about you and your purchases to algorithmically determine customers' eligibility to use their service. ZIP undertakes this assessment independently of their retail partners.
If you have any questions about ZIP's assessment criteria, please reach out via email to: firstname.lastname@example.org
Where can I review my order?
You can login to the customer portal to review your order, update your payment details and make additional payments here at through the ZIP customer portal.
Can I change a payment date?
You can request to move a payment date here. Please note, it can take 24-48 hours for the update to be reflected.
If you do miss a payment, as long as your payment is made within 7 days of the payment date you won’t be charged a late fee.
Is there a limit to how much I can spend on ZIP?
ZIP does not approve every order. ZIP’s automated system takes into account various factors to determine whether customers are approved and what spend limit is provided.
ZIP will charge you 25% of the purchase amount at the time of the transaction. If you don’t have this amount available, the order will not go through.
If you are a repeat purchaser and have made all prior repayments on time, there is a good chance you will receive a higher limit than somebody who is a new customer.
If you have multiple orders that are not fully paid off with ZIP, it can help to pay off your orders in advance. This can sometimes increase the amount you can spend.
ZIP also looks at the total value of orders and can deny transactions if they exceed certain limits.
Why has my card been charged multiple times?
This is typically because the wrong zip code has been entered. When this occurs, the bank may hold the funds as pending temporarily. Importantly, in this instance, the card hasn’t been charged and this will be reversed shortly.
If the issue persists, please contact your bank in the first instance and if they confirm a charge has been made, please contact ZIP.
When is my next payment due?
You can view or make a manual payment in ZIP customer portal. You can also pay for your purchases in full early.
If you have further questions, please visit ZIP.