ZeroPay is a payment solution that provides an alternative way to pay for goods. The platform was developed by the financial services firm FeverTree Finance Ltd. founded in 2012. The firm is privately held. It specializes in retail credit solutions, asset backed finance, medical insurance, and private equity funding to companies, entrepreneurs, and retail consumers. The institution was created to give South Africans access to capital. The team of the company is very proud that it has simplified the access to finances for everyday users and businesses.
The system helps to introduce a type of BNPL system (Buy Now Pay Later) to your e-commerce platform. It is possible to give shoppers the capability of the purchase, paying later for it in installments. The payout is divided into 3 payments. At this, the payments are zero fee and zero interest, hence the name of the service. The commodities purchased by the service are delivered to customers straight away. The company takes care of the rest.
Merchants get payments without limitation since the company contacts its customers directly. It helps merchants to increase their cash flow, while businesses only have to deliver goods in time without thinking about other questions. Merchants don’t have to care even about the situations when customers don’t pay out their installments. This is the problem of the ZeroPay company.
The BNPL methods help to increase the cash flow without any risk on the part of merchants. Besides, this option doesn’t increase merchant’s expenses. The solution offered by ZeroPay is acute for both online and in-store payments. Payments to merchants are made on a weekly basis, on Fridays.
The service is available for customers over 18 years of age, residing lawfully in South Africa. The person should also have sufficient regular income to be able to repay the debt in 3 installments. The full list of requirements can be found in the Terms and Conditions of ZeroPay.
The platform cares a great deal about its security. The company assures that it never shares private data with the third parties, always adhering to the strictest of privacy protection policies.
Lack of upfront and monthly fees also speaks in favor of the service. The fee is charged on a per transaction basis. The fee depends on the following variables: the average basket size, the e-commerce platform that hosts the store, and transaction volume estimates.
How to connect to the service
The customer service is available for merchants at any time, so it is recommended to contact the team in case there are any questions on the partnership with the service. The merchant sign-up form is provided on the official website of the payment system. It includes questions, clarifying basic details (name, email address, mobile number) and business details (name, registration number, entity type, store website address, ecommerce platform, number of physical stores, average basket size, and anticipated credit sales).
There is no contract term for merchants entering the partnership. There is also no limit in volume of cash flow, so it doesn’t matter how much merchants get through the system. Businesses can work with the company as long as it is convenient and profitable for them. If it is not so, they can just turn off the offering.
The developers try hard to make the integration of the payment solution easy. For instance, they developed plugins for fast integration to such famous e-commerce platforms as WooCommerce, Magento 1, Magento 2, and Shopify. The plugins become available on the official website of the platform after the signup procedure.