Digital finance company, zipMoney has reached over $10 million in transaction volume on its platform in a single month, representing a first for the company since listing in late 2015.

The company recorded its largest processed volume in one month during April, driven by new merchants including a deal with book retailer, The Co-op.

“This success underpins our ambition to become the leading player in the digital consumer finance space,” said Larry Diamond, the company’s managing director.

“It validates our agile, technology-driven approach to financial services and in delivering simplicity, transparency and ease of use across the entire customer experience.”

Co-op, the country’s largest member-owned retailer, has entered into a merchant services agreement with zipMoney to use its digital, instalment payments at the checkout under zipPay.

“We had been looking for a buy now pay later option for our digital platform,” said Steffen Daleng, Co-op general manager for digital.

“zipPay ticked the most boxes — they don’t just split payments but create additional consumer purchasing power through their digital wallet while also utilising social sign-on for a frictionless checkout experience. zipPay also has a customer-friendly business model which was very important to us,” Daleng said.

Co-op joins over 40 other merchants that now uses zipPay.

Nati Harpaz, director of Octomedia, publisher of Inside Retail, has recently joined the advisory panel of zipMoney. 

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