The New Disrupter!

Every now and then you see companies emerge that take a process or a business strategy that’s been done a certain way since the dawn of time and flip it on its head…

Take Uber for instance, their business model was so controversial it had traditional cabbies literally take up arms and picket outside government offices. They staged sit ins and strikes at airports so commuters in some cases couldn’t get to their destinations. This was all because the old school taxi driver was scared witless that a new and innovative disrupter was threatening to expose the fact that their traditional business model was dying if not dead already…

Another classic example of a good ole fashioned disrupter has got to be Netflix, yes Netflix!!! Hard to believe that such a juggernaut of the home entertainment industry started out as a simple digital start up company, attempting to disrupt the entertainment industry by changing how we watch a movie. At first, Netflix solved a simple problem: People were sick of going to a video rental stores and not finding the movies they wanted. They also hated paying late fees. Then, Netflix developed an innovative recommendation system. With no retail presence and over $1 billion in sales, Netflix has had a real impact. Since its IPO in 2002, its stock has increased by more than 165%, while Blockbuster’s has fallen 78% ohhhhhh poor Blockbuster 🙁

Anywho, it’s fair to say at CSG we love a good disrupter and we think we’ve found one – zipPay. Now love them or hate them and as controversial as they may be, zipPay has worked out a better way to lend money to people who don’t have it on the spot or want to be able to pay off a purchase over a few weeks as opposed to all in one go.

How does zip work? Here’s the lowdown

There is a quick online sign-up process to register with zipPay. Once this has been completed, the applicant will find out if they are eligible for an account almost immediately. Once approved, the account can be used for online purchases by selecting zipPay as the payment method. zipPay can be used for in-store purchases at any store at which zipPay is accepted – all you do is sign into your account and select zipPay as the payment method during checkout. zipPay then pays the retailer on your behalf and adds the cost to your account.

How do I make repayments with zipPay?

zipPay allows you to set up a weekly, fortnightly or monthly repayment schedule. Super handy! These repayments will then be taken automatically from your nominated account. You will also be able to make voluntary repayments on top of scheduled payments.

What fees and charges come with zipPay? In other words, where’s the sting if any?

zipPay sends account holders a statement on the first of each month, listing any purchases made in the previous month. Account holders are given the rest of the month to pay back the owed amount without any fees charged.

All accounts need to make a minimum repayment of 40 bucks a month. If this repayment is not made, users are charged a fee of $6 per month until the amount owing is paid out in full.

So How do I close my zipPay account?

Users may close their zipPay account once the balance has reached $0. However, the account can be kept open with no fees if the users feels it may be used for future purchases. Handyyyy.

Zip PayWhat are the pros and cons of zipPay?

zipPay has a range of benefits, including:

  • Convenience, as it eliminates the need for a card
  • The sign-up process is quick and efficient
  • There are several credit limits, allowing you to choose one that suits your needs
  • It’s relatively easy to avoid fees if you’re diligent with repayments

It’s important to remember that zipPay is a lender – if you accumulate a lot of debt that you cannot repay, you will be subject to fees and charges. Also, the ease of payment is a double-edged sword, because it means you might make unwise purchases. So just don’t be silly right?!

As with any financial decision, weighing up the pros and cons and suitability for financial situation is advised aaaaand that’s my disclaimer sorted right there.

So, if you haven’t guessed already CSG has embraced our new disrupter friend as we love to cause a stir whenever we get a chance, lol its just who we are…. And of course, we hope that we might make life a little easier for our customers when purchasing our super high-quality product. Win win right!!


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