Zippay, zip-money, oxipay, openpay?

[langzixinxin]

Hi

I recently got approved by Oxipay for my store (https://www.tftoys.com.au), before I implement it, can I ask your opinion on ALL these instalment payment services you know?

If you know some info from the merchant point of view, I will also much appreciate you share here.

Oxipay will charge me 4.5%, it is really really huge as my margin is cut-head low. I wouldn't bother if I import women underwear at 50c cost from China and sell for $20 for those ladies who might only wear one night. :(

thx

[DELTAprime]

As a consumer I'm really happy with ZipPay, it gets me to spend at Umart more often than I do other PC parts retailers in Australia because it's the account I have and they are the biggest store in that particular retail space that uses ZipPay. Also they refunded every cent I spent with Premium Collectibles through ZipPay with no hassle so I feel really safe with ZipPay.

Also I just made my first purchase through AfterPay. I feel pretty good about them also but I think that are more aimed at big businesses like Big W and Officeworks.

[1AZRAEL1]

Zippay. I love the fact I have time to pay off an item. Sometimes i just don't have the money to pay all up front. Any way of a laybuy is good.

We have also used Afterpay and they are good too

[prjkt]

Zippay/ZipMoney same company, slightly different service
Zippay upto $1000 limit, $5 per month with a non-zero balance, no interest ever
ZipMoney upto $2-5000 (different setup fees) - as above, though with fixed interest free periods (set/chosen by the retailer)

[Omega Metro]

Have you looked at Paypal laybuy? It’s pretty good for preorder stuff (from a customers perspective anyway). The order gets split into 2-3 monthly payments.

[PROVOST]

I have zip pay and afterpay both useful for buying certain things for sure. :)

[ZoonMaster5000]

I say just wait it out then incorporate zippay or Afterpay into your store oxipay sound like they are just siphoning your profit margin. Lay buy through PayPal is an option as they charge the consumer instead of the store.

[1AZRAEL1]

Lay buy through PayPal is great. If I have to a few extra bob to do it that way, I'm happy for it. I don't have the luxury of endless bucks on a whim :)

[Lint]

Oxipay will charge me 4.5%, it is really really huge as my margin is cut-head low.



That's pretty much the idea behind all these pay-by-instalment services, the merchant has to bear the cost and as such, retail prices rise for everyone. The return for you is in the form of (hopefully) a larger quantity of sales.

That said, I've never even heard of oxipay. I'd stick with a service that has some established brand recognition that people trust.

[langzixinxin]

hi,

thx for the input.

the laybuy through paypal is standard service provided by paypal? Is there a website for it?

thx

[DarkHyren]

hi,

thx for the input.

the laybuy through paypal is standard service provided by paypal? Is there a website for it?

thxIt's not provided by paypal no, it's a service provided by another finance company that allows customers to have payments taken from their paypal accounts instead of directly from their bank accounts like zippay etc do.
If you want to look into it the website is https://lay-buys.com/
I've never used it and the one time I had the chance to use it I didnt because it isn't very flexible with payment amounts/dates but it might be worthwhile for some people.
This is what I found out about the costs

Costs For Consumers
The customer pays a small 0.9% Lay-Buy fee.

Costs For the Retailer
FREE. No hidden fees or ongoing membership costs are payable to Lay-Buys.