Australian Fintech, Zip Co Jumps on the Bitcoin Trend

E-commerce company Zip Co. has recently announced its crypto roadmap during Retail Investor Day in Australia. As brought by the announcement, Zip Co. has confirmed that it will now allow all of its US-based merchants to accept Bitcoin (BTC) payment. Meanwhile, the company did not give the actual date that the service will start.

Zip Co. disclosed it is finalizing plans to offer their customers to buy, sell, hold and pay in crypto using the company’s mobile app. More so, this plan is the company’s scheme to cater to their middle-aged customers.

Zip’s proposed initiative will allow customers to pay for goods in installments. To achieve this, the company intends to develop a number of features based on crypto. Along with this, customers can also buy now and pay later (BNPL).

The crypto features will first be open to U.S users, with intentions to expand in the future.  It is remarkable to note that Zip is the first BNPL firm to propose such crypto services to its customers.

Zip’s intent will also allow U.S. merchants to accept Bitcoin as payment for goods and services using its “BitcoinBack” feature in 2022. The fintech company’s scheme will enable users to convert cash gifts into bitcoin on their purchases. 

A co-founder of Zip’s United States subsidiary spoke at the Retail Investor Day on Tuesday. Brad Lindenburg stated that crypto formed a “revolution” that his company had to participate in.

To clarify, Lindenburg claimed that Zip Co’s goal is to keep crypto functions simple to use. Alongside this, also said the company conforms to the necessary standards in the United States and Australia.