The Repayment Calculator feature allows you to work out the customer’s estimated repayments needed to pay off the order within a specific interest-free period including any fees. To do this:
- Log in to your Zip Merchant Dashboard
- Click ‘Repayment Calculator’
- Enter the price of the order and the interest-free period you are offering.
This will then calculate what the repayments would need to be to cover the order in that period including any fees, as well as what their minimum contractual amount for that credit limit would be.
You can select at the top to view this on a weekly or monthly basis.
- If the customer is happy to proceed, click ‘Send Order’ and you will be taken to the order page.
- Enter in the following details:
- Customers last name, personal email address and mobile number (as listed on their Zip account)
- Order price
- Interest-free period from the dropdown menu (if applicable)
- An optional reference number for the order, provided for your convenience and bookkeeping
Once the customer accepts the order, it will be pending on their account and will be ‘Authorised’ in your Dashboard. At this point, the funds are guaranteed to you and you can begin preparing the customers' order. You will be required to complete the authorised order once the customer receives the items.
To see how you process an authorised order, click here.