ZIPPAY

It looks like Afterpay has scored itself a rival. ZipPay is another new credit facility available to shoppers online and in store. With ZipPay, you can use credit to make purchases up to $1000. You have until the following calendar month to pay-off your debt fee-free (so up to a maximum of 60 days). After that you will be billed $5 for every month your debt is outstanding. There is a minimum repayment of $40 per month. Other than that, you have flexibility with how you choose to pay – either weekly, fortnightly or monthly.