rewrite this title InComm, Zip Partnership Brings Buy Now, Pay Later to Gift Cards – Finovate

Financial services company Zip announced a new partnership with international payments company InComm Payments.

The partnership will bring Buy Now, Pay Later (BNPL) functionality to the gift card category.

Founded in 1992, InComm made its Finovate debut at FinovateFall 2011 in New York. The company is headquartered in Atlanta, Georgia. Australia-based Zip was founded in 2013 and serves customers in New Zealand and the US, as well as Australia.

Digital financial services company Zip has teamed up with global paytech InComm Payments in a partnership that will bring Buy Now, Pay Later (BNPL) installment buying to the gift and prepaid card category. The integration will enable eligible consumers to buy popular gift card brands directly through the Zip app. Available gift cards include brands representing retailers, as well as entertainment, dining, and travel providers. Eligible users will be able to select their card of choice and the denomination, and then choose how to split the cost at checkout—completing the transaction without having to leave the Zip app.

“Our priority is making shopping for gift cards quick and simple, whether consumers need a gift for a special occasion or simply want to treat themselves,” InComm Payments SVP of Financial Services Adam Brault said. “Partnering with Zip to bring more flexible payment options is an effective way to further take the stress out of the gift card shopping process.”

The partnership arrives at a time when consumer interest in BNPL options is growing rapidly. Based on data from the US Federal Reserve, the number of consumers using BNPL over the past 12 months reached 15% in 2024, climbing from 14% in 2013, and 10% in 2021. Although headquartered in Australia, Zip has 4.6 million active customers in the US and 29,000 merchant partners who will be able to take advantage of this new payment flexibility when it comes to buying gift cards.

“Short-term installment payments have become a mainstream behavior, and our customers tell us they value this flexibility across all areas of their cashflow,” Zip Chief Marketing and Customer Officer Jinal Shah said. “Shoppers deserve more say over how they manage their money, and we’re committed to expanding flexible options to more consumers.”

Founded in 2013 by Larry Diamond and Peter Gray, Zip offers innovative and people-centered financial products to customers in New Zealand and the US, as well as in its native Australia. The company provides point-of-sale credit, cashflow, and digital payment services, connecting millions of consumers with its international network of tens of thousands of merchants. Zip has more than six million active customers and 85,000+ merchants using its technology, and processes 93 million transactions annually. Cynthia Scott is Group CEO and Managing Director.

Zip’s partnership announcement with InComm follows the company’s launch of its new mobile offering, ZMobile, in April. Created in partnership with TPG Telecom, ZMobile is a prepaid mobile plan that features 4G/5G network access reaching 98.5% of the Australian population, as well as global roaming and international calling capabilities. Zip currently serves 10% of Australian adults; ZMobile will be offered to the company’s existing customers in the weeks to come.

Founded in 1992, Atlanta, Georgia-based InComm made its Finovate debut at FinovateFall 2011. Today the company manages more than one billion cards a year facilitating $65 billion in annual transaction volume. InComm boasts more than 525,000 points of retail distribution and more than 2,400 employees across 35 countries and five continents. With solutions ranging from gift cards and reloadable debit cards to cash load technology and transaction processing, InComm serves companies in financial services, e-commerce and gifting, healthcare, and more. Brooks Smith is CEO.

Photo by Joey Kyber on Unsplash

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