What PartPay does

PartPay operates as the New Zealand arm of Zip Co Limited, an Australian-listed (ASX: Z1P) buy now, pay later (BNPL) fintech founded in 2013 and originally branded as PartPay before rebranding to Zip. The company offers a single core product, "Pay in 4," which allows consumers to split purchases into four interest-free instalments over six weeks, with credit limits of up to $2,000 in New Zealand. The technology stack is built around native iOS and Android mobile applications (550K+ downloads, 4.8 App Store rating), a self-serve web portal, and a merchant integration platform that enables retailers to accept Zip payments in approximately ten minutes without API work. The platform is integrated at more than 3,000 NZ stores, including enterprise retail anchors The Warehouse, Noel Leeming, Chemist Warehouse, and JB Hi-Fi, alongside international e-commerce partners SHEIN and Temu, with 6.5 million active customers globally and $16 billion in secure total transaction volume for the period ending 31 March 2026.

The business model is transaction-based. Revenue is generated primarily through merchant transaction fees charged on each BNPL purchase processed through the platform, supplemented by late payment fees when consumers miss repayment schedules; on-time repayments carry no interest or fees. The go-to-market motion is dual-sided: direct-to-consumer acquisition through app stores and the website for individual applicants, combined with merchant acquisition through a "no APIs required" integration promise and ecosystem partnerships with Xero (accounting reconciliation) and BigCommerce (e-commerce platform). A secondary product, Business Capital, extends a line of credit to merchant partners, broadening the merchant-side revenue mix. Customer segments are horizontal — individual consumers seeking short-term cash-flow flexibility across household goods, electronics, pharmacy, fashion, and travel purchases, and merchants seeking a conversion-enhancing checkout option with minimal technical lift.

The company operates across three markets: New Zealand, Australia, and the United States, with the New Zealand entity headquartered in Takapuna and operating with 11-50 employees. No specific revenue figure is disclosed in the available data, and the input does not surface any disclosed AI/ML capabilities, patents, regulatory actions, or named executive leadership for the NZ entity.

Name

PartPay

Legal name

Zip Co Limited

Website

https://partpay.co.nz

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

PartPay, operating as Zip New Zealand, is the NZ arm of ASX-listed Zip Co Limited, offering interest-free "Pay in 4" BNPL instalment plans over 6 weeks to consumers across 3,000+ retail and online stores, generating revenue via merchant transaction fees and late payment charges.

Ownership category

akta.pro rank

Product category

Buy Now Pay Later (BNPL) Consumer Lending

NAICS

Sales Financing (52222), Other Nondepository Credit Intermediation (52229)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)

akta.pro secondary industries

Merchant-Integrated BNPL (Online Checkout) (FSAKACAA), Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG), Buy Now, Pay Later (BNPL) (CRAFALAD)

Keywords

• Buy now pay later
• Instalment payments
• Consumer lending
• Merchant payments
• Point-of-sale credit

Headquarters

HQ city

Takapuna

HQ country

New Zealand

HQ region

Oceania

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Merchant Transaction Fees: Zip generates revenue by charging merchants a fee for each transaction processed through its BNPL platform. This is a transaction-based revenue model where merchants pay for access to Zip's customer base and payment processing infrastructure.
2. Late Payment Fees: Revenue generated from late fees when customers miss repayments. The company notes 'No fees when you repay on time' indicating late fees apply for delayed payments.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

PartPay operates in New Zealand as Zip New Zealand, offering a buy now, pay later (BNPL) service that lets consumers split purchases into four interest-free instalments over six weeks, with credit limits up to NZ$2,000. The service is accepted at 3,000+ physical and online retailers in New Zealand and is accessed through native iOS and Android apps. Supporting offerings include a quick merchant integration platform (10-minute setup, no APIs required), a business line of credit for merchant partners, and integrations with Xero and BigCommerce.

Product overview

PartPay operates as a buy now, pay later (BNPL) platform under the Zip brand, offering a single unified product ecosystem centered on the Zip Pay in 4 instalment service. The core product allows consumers to split purchases into 4 interest-free payments over 6 weeks at over 3,000 partner stores in New Zealand. The product portfolio also includes Zip for Merchants (enabling businesses to accept Zip payments) and Business Capital (providing lines of credit to merchant partners). All services are accessible through native iOS and Android mobile applications, with a web portal for account management.

Differentiator

Problem solved

Functional benefit

Products and services

• Zip Pay in 4 Buy now, pay later service for individual NZ consumers that splits purchases into 4 interest-free instalments over 6 weeks, with credit limits up to NZ$2,000, accepted at 3,000+ physical and online retailers.
• Zip for Merchants Merchant payment acceptance solution enabling retailers and e-commerce businesses to integrate Zip as a checkout payment option, with quick setup in around 10 minutes and no API requirements, providing access to Zip's customer base.
• Business Capital (Line of Credit) Line-of-credit financing solution providing merchant partners with access to capital for business growth.
• Zip Mobile Application Native iOS and Android application enabling customers to apply for Zip, manage repayments, track purchases and receipts, and use Zip at partner stores both online and in-store.

Quantifiable outcome

• 6.5 million active customers globally across NZ, Australia and Americas
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• The WarehousecoreChannel Partner/ Reseller/ DistributorMajor New Zealand retail chain partner where customers can use Zip BNPL payments for household goods and general merchandise. The Warehouse is prominently featured on Zip NZ's homepage as a key merchant partner.
• Noel LeemingcoreChannel Partner/ Reseller/ DistributorLeading NZ electronics and appliances retailer partner accepting Zip BNPL payments. Featured as a key merchant partner on Zip NZ homepage.
• Chemist WarehousecoreChannel Partner/ Reseller/ DistributorMajor pharmacy and health retailer partner where customers can use Zip for health and wellness purchases. Listed as a key merchant partner on Zip NZ.
• JB Hi-FicoreChannel Partner/ Reseller/ DistributorElectronics retailer partner accepting Zip BNPL payments for consumer electronics purchases. Featured on Zip NZ homepage merchant section.
• SHEINminorChannel Partner/ Reseller/ DistributorInternational online fashion retailer partner where Zip customers can use BNPL for fashion purchases. Listed among Zip NZ merchant partners.
• TemuminorChannel Partner/ Reseller/ DistributorGlobal e-commerce marketplace partner enabling Zip BNPL payments for online shopping. Featured on Zip NZ homepage.
• XerocoreTechnology or IntegrationAccounting software integration allowing merchants to reconcile Zip transactions directly within their Xero accounting systems. Available as a merchant resource.
• BigCommercecoreTechnology or IntegrationE-commerce platform integration enabling BigCommerce merchants to easily add Zip as a payment option. Available as a merchant resource.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• PayPal Pay Later (Pay in 4): PayPal's Pay-in-4 product leverages PayPal's global checkout and merchant base to offer BNPL at scale. As a broad incumbent payments provider, it competes with PartPay on the merchant side while offering a much wider payments portfolio.
• Visa Instalments with APaylater: Visa's network-level instalments (including via partners like APaylater in Asia-Pacific) represent a broad incumbent competitive threat. Card-network-backed BNPL offerings compete for the same checkout placement and merchant relationships as PartPay.

Direct peers

• Sezzle: Sezzle is a US-listed BNPL offering Pay-in-4 and longer-term instalments, with growing merchant integrations in physical retail and e-commerce. Its product and target merchants are directly comparable to PartPay.
• Openpay: Openpay is an AU/NZ-listed BNPL provider offering both short-term Pay-in-4 and longer-duration planned instalments. It competes with PartPay for NZ retail and services merchants with a comparable merchant-integrated checkout.
• Klarna: Klarna is a global BNPL leader offering Pay-in-4 plus longer-term instalment loans. Although currently less concentrated in NZ, it competes for the same merchants and consumer mindshare with a similar product proposition.
• Affirm: Affirm is a US-listed BNPL platform offering Pay-in-4 and longer-term instalment financing. Its product structure (interest-free short-term and longer-term POS credit) directly mirrors PartPay's model and serves the same use cases.
• Afterpay (Block, Inc.): Afterpay pioneered the Pay-in-4 BNPL model and is now part of Block, Inc. It is the closest global direct peer to PartPay, offering an identical 4-instalment interest-free product at major NZ retailers including The Warehouse and JB Hi-Fi.
• Laybuy Group: Laybuy is a New Zealand-founded BNPL offering 6 weekly instalments and is the closest domestic direct competitor to PartPay, targeting the same SMB merchants and consumer demographic across NZ and Australia.
• Humm (Humm Group): Humm is an AU/NZ BNPL provider offering 'Pay in 4' for smaller purchases and longer-term 'Pay Anything' instalments for larger ticket items. It competes with PartPay across both the small-ticket and high-ticket BNPL segments in NZ and Australia.
• LatitudePay (Latitude Financial Services): LatitudePay is the BNPL arm of Latitude Financial Services, offering interest-free Pay-in-4 across AU and NZ. It is a direct competitor for the same merchants and consumer segments as PartPay.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/partpay

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PartPay