Z1P’s share price rallied today after the company announced the partnership with Wesfarmer’s Target Australia Pty ltd to offer Zip’s interest-free payment services to Target customers. Currently, i.e. 13 September 2018 (2:02 PM AEST), ZIP’s stock has moved as high as 5.34% to $1.085.
ZIP Co Limited (ASX: Z1P) offers a point-of-sale credit and digital payment services to merchants and customers across health, retail, education and travel industries. What makes it distinct is its zipPay no interest account offering crediting facilities and hassle free checkout experiences to customers.
The partnership with one of the Australia’s largest retailer Target has caught a bullseye to the company. This deal would enable Z1P to expand its presence across Target’s 303 stores and its online business. Z1P offers to prove seamless checkout experience to Target customers both online and in-store.
Zip CEO and Managing Director, Larry Diamond stated: “We are delighted to partner with a truly significant and quintessentially Australian brand in Target and are proud to be their first in-store alternative payments offering. We believe Zip will be a great fit for Target, providing their customers with a better way to pay.”
It is expected that Z1P payments offering would be live by mid October 2018 across the entire Target network, both online and instore.
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