Zip Co — one of Australia’s original 'buy now, pay later' (BNPL) players — announced it would roll out a new credit service, giving SMEs access to up to $150,000, which covers a range of business expenses.
A new Zip Business Trade Plus offering was added to the existing solution which provided SMEs with BNPL for up to $3000. With Zip Business Trade Plus businesses would get access to 60 days interest-free credit lines between $3000 and $150,000. After 60 days SMEs would be charged a 3 percent extension fee.
