The world of payments is changing. So much so, in fact, that more than 50% of millennials do not own a credit card, leaving those very tech-savvy consumers to rely on debit cards and cash to make purchases.
That’s where Nationwide Marketing Group’s new partnership with digital payments innovator Zip Co., aims to fill the gap. Zip’s payment solution gives customers access to a transparent and straightforward four-payment installment option, providing the freedom and flexibility to stretch their funds further. And the platform also benefits the retailer. Not only is there little to no cost to retailers above current processing fees and easy implementation with their current system, but participating retailers will be paid immediately, as Zip absorbs substantially all the risk for the installment payments.
“Partnering with Zip allows our members alternative payment methods while also giving their customers payment flexibility,” says Chris Kirk, vice president of financial and business services for Nationwide. “By adding Zip as a complement to their existing payment options, our members can now provide their customers with even more buying power. In addition, our members will have access to Zip’s robust network of users as a result of this partnership.”
Today, Zip – which entered a definitive agreement to acquire digital payment platform Sezzle – boasts a consumer base of more than 9.9 million customers and is focused on becoming the No. 1 payment choice for consumers, everywhere, every day. As part of that growth strategy, this partnership will allow Nationwide members to be promoted within the Zip network, making it possible for them to reach roughly 98% of consumers who currently have no in-store credit.
Plus, Zip has been working to integrate with Nationwide’s preferred website providers. Site on Time is now set up to allow members to process online orders with Zip, and Retailer Web Services (RWS) expects its integration with Zip to be completed later this year.
Nationwide member Howard’s, a Southern California leader in appliances for 75 years, has already seen the benefits of working with Zip.
“We are hyper-focused on providing our customers with the best products and services to make appliance shopping easy, and we were impressed with how easy it was for both our customers and our own business to use Zip,” says Michelle Nein, SVP/chief customer experience officer for Howard’s. “Zip will offer our customers the flexibility of extending the payment of their purchase, which we believe will contribute to higher sales. Additionally, Zip will offer consumers more ways to pay, which they now expect when making purchases.”
About Nationwide Marketing Group
Nationwide Marketing Group works on behalf of thousands of Independent appliances, furniture, bedding, electronics, specialty electronics, custom installation and rent-to-own dealers helping them grow their businesses and thrive on their own terms. With more than 5,000 members operating some 14,000 storefronts, Nationwide Marketing Group is the largest buying, marketing and business support organization of its kind, representing billions in combined annual sales across the membership. For 50 years, the organization has remained committed to the Independent channel, empowering members with the scale, sophistication and efficiencies they need to compete while delivering the unmatched business intelligence, tools and resources required to win in an ever-changing business environment.
Zip is a leading global financial services company, offering innovative, people-centered products that bring customers and merchants together. On a mission to be the first payment choice everywhere and every day, Zip offers point-of-sale credit and digital payment services in 14 geographies around the world, including through strategic investments, connecting millions of customers with its global network of tens of thousands of merchants. One of the fastest growing BNPL providers globally, Zip has a presence in Australia, Canada, Czech Republic, India, Mexico, New Zealand, the Philippines, Poland, Saudi Arabia, Singapore, South Africa, UAE, the United Kingdom and the United States. Zip provides fair, flexible and transparent payment options to individual consumers and SMBs, helping them to take control of their financial future and helping merchants to grow their businesses. Zip is committed to responsible lending and also owns Pocketbook, a leading personal financial management tool. Founded in Australia in 2013, Zip now employs over 1,500 Zipsters worldwide.