Zip announces The Hut Group buy now pay later tie up
Australian buy now, pay later venture Zip has partnered with UK-based The Hut Group to provide interest free payments over four instalments to the pureplay’s customers and brands using the THG Ingenuity e-commerce platform.
Zip will be an option at checkout across THG’s sites in the UK, the US, Australia and New Zealand.
John Gallemore, CEO at THG Ingenuity, says: “This collaboration allows us to further expand the payment options that we offer our clients and THG’s own brands, ultimately giving greater choice and flexibility to consumers anywhere in the world.”
Anthony Drury, Zip UK Managing Director, says: “We’re growing rapidly in the UK and our partnership with THG only confirms our intention.”
“There is an increasing appetite among retailers to embed BNPL payment domestically and internationally.”
“Our flexible products are accessible across many retail sectors from fashion, health & beauty and groceries to homeware, entertainment, sport and travel.”
10 million British customers
Zip recently announced plans to ramp up its expansion in the UK.
Founder and CEO Larry Diamond said that Homebase, boohoo and The Fragrance Shop would be among the first retailers to join its platform
Zip will invest $15 million in the UK this year as it takes on the likes of Klarna and Afterpay in a crowded BNPL space. It is targeting 10 million British customers within three years.
