The days when you couldn’t pay for products in installments are dead and long gone. Zip, formerly Quadpay, allows you to buy any product you need from its partner brands on a Buy Now, Pay Later program with your credit or debit card.
Since rebranding from Quadpay to ZIP, the payment solution has even expanded its range of services, so you can use it anywhere Visa is accepted. In addition to buying high-ticket products, Zip allows you to book trips, order groceries, and easily pay your bills.
What is Quadpay?
Like Affirm, Afterpay, and Klarna, Quadpay is a rebranded payment solution that allows you to buy the goods and services you need right now, own them, and then pay later. With Quadpay, you split up your payment into four interest-free installments payable fortnightly at any online and in-store retailer that accepts Visa payment.
Unlike Affirm BNPL payment solution, Quadpay doesn’t do hard credit checks, so your chances of getting a good spending limit are high even if you don’t have a great credit score. Also, Quadpay doesn’t report your credit to the major credit bureaus, so you don’t have to worry about their service affecting your credit record negatively.
And given that the brand works with thousands of merchants, you can shop at brands that you love and enjoy the convenience of making partial payments on your own terms.
How Does Quadpay Work?
To use Quadpay, you have to be a U.S. citizen, be 18 years or older, own a U.S credit card, and have a valid mobile number. Quadpay system will do a soft credit check, assign a spending limit to your account, and then allow you to align your payments on a bi-weekly plan instead of paying the full amount at checkout.
You’ll see your spending limit at the top right section of the app. Keep in mind that Quadpay won’t approve you for every order. Check to make sure that your spending limit is at least 25% of the purchase price of the item you would like to buy.
When you buy an item from your favorite brand, choose Quadpay as your payment option, pay the first installment at checkout, and the products you order will be shipped to your doorstep. Then, you have to pay the three remaining installments within six weeks.
Quadpay doesn’t give you the option to request a spending limit, but you can increase your chances of getting a higher limit by using Quadpay more often and paying for your installments on time.
While Quadpay doesn’t do a hard credit check or report you to the credit bureau, it will report your account if it goes into the collection – and that can have a negative impact on your score and your spending limit. You only have to make your payments on time to make sure this doesn’t happen.
List of Stores that Accept Quadpay for BNPL:
- Allen Edmonds
- Carbon 38
- Cosy House Collection
- Christy Dawn
- Daniella Shevel
Quadpay (now ZIP) deducts money from your account automatically from your U.S. credit or debit card. So make sure you have sufficient funds to make on-time payments for your installments.