The agreement will see families attending care at Australian childcare centres that use Xplor services, able to spread the cost of paying for childcare over time, helping to relieve the financial burden of paying fees upfront. Xplor serves over 10,500 childcare centres in Australia and New Zealand.
The new initiative aims to provide families with the ability to access short-term financing to pay for childcare sessions. Xplor’s collaboration with Zip will empower families to have greater control of their financial situation, removing the need to involve the centre or ask for a payment plan.
CEO of Xplor Technologies, Floris de Kort said, “Xplor is committed to continually evolving its software solutions to meet emerging consumer needs. The partnership with Zip will enhance our offering for childcare providers and families, allowing early learning centres to diversify their revenue streams, and in turn, allow families to benefit from the flexibility of this new option.”
CEO of Xplor Education, Mark Woodland said, “We are excited to venture into the buy now, pay later ecosystem with Zip, to be able to offer people more flexibility with how they pay for childcare. We know there is demand for tailored payment options in the Australian market, and believe this innovative initiative will improve access to childcare for more families.”
This move follows the growth of the buy now pay later market in Australia and New Zealand - last year around six million people used buy now pay later products, such as Zip.
“This deal is the first of its kind for both the childcare industry and Zip. Teaming up with Xplor Technologies, we will use our financial solution to empower and offer flexibility for both families and childcare providers,'' said Colin Baines, Zip’s Director, Commercial.
Zip will be available to Xplor’s network of childcare centres from early November. Families will be able to access the service directly from their childcare centre’s mobile app, ensuring an efficient and quick payment process. The innovative collaboration with Zip aims to provide a sector-wide solution for families, at scale.
About Xplor Technologies
Xplor Technologies is a global platform combining SaaS solutions with embedded payments and Commerce Accelerating Technologies. Xplor provides enterprise-grade SaaS solutions for SMBs in ‘everyday life’ verticals: Childcare & Education, Fitness & Wellbeing, Field Services and Personal Services – and a global, cloud-based payment processing platform.
ASX-listed Zip Co Limited (Z1P: ASX) or (“Zip”) is a leading global financial services company, offering innovative, people-centred products that bring customers and merchants together. On a mission to be the first payment choice everywhere and every day, Zip offers point-of-sale credit and digital payment services in 13 markets around the world, including through strategic investments, connecting millions of customers with its global network of tens of thousands of merchants.
One of the fastest growing BNPL providers globally, Zip has a presence in Australia, Canada, Czech Republic, India, Mexico, New Zealand, the Philippines, Poland, Saudi Arabia, South Africa, UAE, the United Kingdom and the USA. Zip provides fair, flexible and transparent payment options to individual consumers and SMBs, helping them to take control of their financial future and helping merchants to grow their businesses. Zip is committed to responsible lending and also owns Pocketbook, a leading personal financial management tool. Founded in Australia in 2013, Zip now employs over 1,000 Zipsters worldwide.