Reach more buyers with installment payments via Quadpay/Zip
If you accept payments through Live.Payments, your buyers have the powerful option to pay in installments via Quadpay/Zip.
What is Quadpay/Zip?
Quadpay/Zip enables your bidders to pay for their purchases in installments over time, using a credit or debit card. By splitting the purchase amount into 4 payments, every two weeks, Quadpay/Zip empowers your bidders with financial flexibility.
Zip is a global payments company headquartered in Sydney, Australia. Founded in 2013, Zip is an ASX-listed (Z1P) pioneer in the buy now, pay later category.
Just like Quadpay, Zip’s buy now, pay later payment platform offers access to interest-free installments, along with other innovative and consumer-friendly products that make it easy to stay on track financially.
How much does it cost?
It doesn’t cost you anything! Quadpay/Zip is a checkout option included with Live.Payments. Bidders will be charged a small processing fee that varies based on their total invoice amount.
|Less than $250||$4.00|
|$250 - $499.99||$8.00|
|$500 - $999.99||$16.00|
|$1,000 or more||$24.00|
When do I receive my funds?
Purchases made using Quadpay/Zip are disbursed in full. Once your bidder completes checkout, you will receive the full invoice amount in your next disbursement.
How do my bidders sign up for Quadpay/Zip?
They will be provided an option to select Quadpay/Zip as a payment method at checkout, then taken to Quadpay/Zip’s site to complete the transaction. For the initial sign up, Quadpay/Zip requires date of birth, a mobile number and either a debit or credit card. Bidders are instantly notified if they are approved and can complete checkout without disruption.
Quadpay/Zip never performs a hard credit check on a customer and there is no impact on a customer’s credit rating by using Quadpay/Zip.
What if my bidder is not approved for Quadpay/Zip?
They will be redirected back to LiveAuctioneers checkout page and required to select another payment option. Live.Payments also allows bidders to pay via any major credit card or bank transfer (ACH).
Who can pay using Quadpay/Zip?
In order to use Quadpay/Zip, your bidder must:
- Live in the US
- Be at least 18 years old
- Have a valid and verifiable mobile number
- Use a US credit or debit card to make a purchase
Quadpay/Zip is available on invoice amounts of $2,000 or less.
Who should bidders contact in the event they cannot make payment?
Once your bidder has completed the checkout process with Quadpay/Zip, they should work directly with them on future installments and payments. No action is needed on your end.
How does the dispute and refund process work?
You can follow the same process that you would for Live.Payments transactions.
How can I offer Quadpay/Zip to my buyers?
When you enable a catalog for Live.Payments, buyers will be able to pay for their invoice directly on LiveAuctioneers. They will see Quadpay/Zip as an option at checkout.