Shopify & Zipmoney launch digital wallet for Australian shoppers

Shopify and Zipmoney have joined forces. The companies have formed a strategic partnership that will focus on the online and in-story growth of Zip's digital wallet solution, Zippay.

Zippay is an online and in-store digital wallet that allows users to access up to funds to shop with.

According to Zippay, in some cases this may be the company's money, letting the customer pay later – Zippay can pay for the customer's items on their behalf.

From there, customers will repay Zippay back monthly, weekly or fortnightly.

As outlined in the announcement, this is not the first time Zip and Shopify have worked together.

Zip currently processes payments for Shopify merchants, and with this recently formed partnership, the companies will aim to accelerate the acceptance of Zip at the checkout across tens of thousands of Shopify merchants.

Larry Diamond, the founder and CEO of Zipmoney, comments on the partnership "we are very excited to partner with Shopify, the world's fastest growing Zipmoney platform and a true pioneer in omni-channel retailing.

Diamond says that Zipmoney's aim is to be across all shopping outlets. "Our aim is for Zip to be everywhere people shop, providing consumers with interest-free flexibility at the checkout.

"Our partnership with Shopify provides enormous value to both retailers and consumers alike – providing payment flexibility online and instore," Diamond adds.

From Shopify, Paco Suro, GM Payments, adds "we are excited to partner with Zip, a leading Australian consumer finance company in offering interest-free payment choice at the checkout of thousands of our Australian retailers.

Suro says, "we have seen the tremendous take up of alternative payments at the checkout as millennials and other customer segments seek better ways to pay.

Suro continues, "a partnership like this, provides enormous value to our merchants and their end consumers.