Kmart customers will now have access to Buy Now, Pay Later payment options, thanks to the new partnership with Zip.
Australian retail giant, Kmart, have jumped on the Buy Now, Pay Later bandwagon by joining forces with Zip Co. Starting from next week, customers will able to purchase goods online with the option to pay over a selected period of time using Zip Pay.
Zip offers flexible, interest-free payment options for customers purchasing items online. The digital wallet allows customers to purchase products immediately, of items from AUD$70 up to AUD$1000. Zip offers flexible repayment schedules, from weekly to monthly.
Kmart operates over 200 stores across Australia and New Zealand, as well as a large online store. A key development with this BNPL payment option for Kmart, allows consumers to add further value to their carts and make larger purchases with the retailer.
“We’re thrilled to partner with one of Australia’s most iconic brands to offer an alternative method of payment to customers. We know Aussies love Kmart; it’s no secret that it’s hard to shop at Kmart without walking away with a full basket, even online. With Zip, we’re providing customers with a better way to pay for their everyday purchases,” explained Zip CEO and Managing Director, Larry Diamond.
The relationship between Kmart and Zip provides customers with choice, whilst expanding the ‘network of acceptance’ for Zip’s growing customer base. Kmart Director of Retail for Australi and New Zealand, John Gualtieri said: “At Kmart, we’re on a mission to make everyday living brighter for Australian families. Whether we’re creating on-trend products at everyday low-prices, extending opening hours to make shopping more convenient for customers or opening stores in new communities, we want to make shopping more accessible to more people. This is why we are excited to announce our new partnership with Zip, which gives our customers more flexibility and convenience when shopping with us online.”
According to the BNPL Spotlight Series of 2018, 66 per cent of Australian shoppers are in search of better payment option, and 17 per cent of shoppers will use BNPL on occasion. The primary audience for BNPL payments is millennials, with 52 per cent of purchases valued at AUD$100 to AUD$250. Currently, 1.2 million Australians currently use Zip as part of their online shopping and are connected with more than 14,0000 partners. It’s anticipated that Zip will be available for Kmart shoppers by the end of May.