Today Mercari the online marketplace that connects millions of people across the U.S. to shop and sell items no longer being used, announced its partnership with digital payments innovator, Zip Co., formerly operating in the U.S. as Quadpay, offering customers a more accessible way to shop second-hand with the option to buy now, pay later.
With this partnership, nationwide customers can buy now, pay later for everyday items and unique finds across the resale platform. By selecting Zip at checkout, Mercari shoppers will now have access to Zip's transparent and straightforward four-payment installment option, providing the freedom and flexibility to stretch their funds further. Mercari customers who sell on the platform will still receive full payment for items sold regardless of whether a shopper pays in installments.
“We built Mercari for casual sellers, deal seekers and avid collectors so they can easily buy and sell across our platform," said John Lagerling, Mercari US CEO. “Giving shoppers an accessible way to shop for everyday items and rare treasures is an important part of our mission. We want to support our customers so they can shop in a way that's not only good for their wallets but also good for the planet."
“Zip installments include no stress on credit scores," said Brad Lindenberg , Co-CEO of Zip US. “This type of flexible, safe and secure finance option aligns perfectly with Mercari's consumers who are already ahead of the curve when it comes to finding ways to save money. We are looking forward to providing customers across the platform with multiple ways to shop and finance their purchases."
Mercari has continued to experience strong growth over the past year, as consumers looked to secondhand marketplaces to find in-demand items that remained sold out at traditional retail stores. People across the U.S. have turned to Mercari to sell their unused items and search for everything from everyday goods to unique finds. This broad shift to online marketplaces, and the resale market, demonstrated that people can rely on buying items from other consumers and not simply from traditional retail sources. Being able to finance these purchases and make resale accessible proved to be just as important.
Zip is an installment payment platform, providing consumers with a simple, transparent, and financially responsible alternative to traditional credit. Digital payments offerings saw accelerated growth over the past year, making the biggest percentage leap to date in 2020. In North America , buy now, pay later is expected to grow an additional 181% by 2024, according to a report by FIS WorldPay.
Customers can now make purchases with Zip on both Mercari's online and mobile platforms. For more information, visit https://www.mercari.com/us/enjoy-now-pay-later/ .
Mercari is your marketplace. Our platform connects millions of people across the U.S. to shop and sell items no longer being used. Mercari is constantly innovating to make exchanges easier, from at-home authentication to improvements in online payments and shipping. Mercari has more than 50 million downloads in the U.S. and 350,000 new listings every day, empowering the next generation to transform the way they shop. Mercari can be downloaded on app stores or accessed online through www .mercari.com .
ASX-listed Zip Co Limited (Z1P: ASX) is a leading Buy Now, Pay Later company providing fast and seamless solutions that simplify how people pay, everywhere. Zip offers point-of-sale credit and digital payment services to the retail, home, health, automotive and travel industries, giving consumers, merchants and businesses around the world access to transparent, flexible and interest-free credit. One of the fastest-growing BNPL companies globally, Zip has more than 7.3 million active customers. Founded in Australia in 2013, Zip's core markets include Australia , New Zealand , the United Kingdom , and USA . Zip now employs a team of almost 1,000 people globally. The company is a licensed and regulated credit provider. For more information, visit: www.zip.co
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