- Australia BNPL player Zip is partnering with Singapore telecommunications firm Singtel.
- Singtel is integrating Zip’s Pay Later into its mobile wallet, Dash.
- Over the next six months, Zip will launch new payment schemes and onboard more than 2,000 new merchants to its existing network of 51,000.
Australian buy now, pay later (BNPL) company Zip is partnering with Singapore’s largest telecommunications firm Singtel this week. Through their collaboration, Zip’s Pay Later service will be available to Singaporeans on Singtel’s Dash app.
The integration provides Dash customers with the option to pay for a purchase in full or to pay over time with Zip. Zip’s Pay Later tool enables users to pay for everyday purchases between $350 and $1,000 in interest-free installments on a flexible schedule.
“Many of our customers want greater choice and control over managing their finances and our partnership with Zip provides just that with an alternative payment method that is transparent and flexible,” said Singtel Head of Financial and Lifestyle Services Gilbert Chuah. “This collaboration adds to Dash’s rapidly growing financial services business and we are working on expanding our suite of financial products and services to meet our customers’ diverse needs.”
Dash is a Singapore-centric mobile wallet that offers users remittance services, insurance and investment products, in-person and online contactless payments, rewards, and deals. By partnering with Dash, which counts one million registered users, Zip will have a running start in Singapore, a new geography for the BNPL company. Zip initiated operations in the South East Asia region after investing in Philippine-based TendoPay, a fellow BNPL player, in May of last year.
Over the next six months, Zip will be rolling out new payment schemes and onboarding more than 2,000 new merchants to its network of 51,000– including Target, North Face, and Wrangler– that have already integrated Zip’s BNPL technology into their checkout flows.
There has been a consistent pulse of news coming from BNPL providers over the past 12 months. Just today, Bloomberg reported that Sweden-based Klarna is looking to raise new funds, while France-based Alma closed $130 million in Series C funding and $109 million in debt financing. Last fall, Marqeta announced it would help banks get in on the action. The firm partnered with Amount to offer a BNPL-as-a-service offering.