The Co-op has introduced a buy now, pay later option, a digital installment payment that offers payment options to its customers.

Thorsten Wichtendahl, the Co-op’s CEO, said the new payment offering is part of the Co-op’s strategy to improve overall retention by improving affordability and customer satisfaction.

“This is a very exciting milestone for the Co-op, and a huge win for all Co-op customers, particularly students who are so very often on a tight budget,” said Wichtendahl.

“At the Co-op, we are committed to doing as much as we can to make university life as affordable and stress-free as possible for students. This is just another way we’re doing that. None of our key competitors provide this option. Amazon doesn’t, Book Depository doesn’t, Booktopia doesn’t. But we do, and that’s something we’re very proud of,” he added.

Co-op customers can choose to split their payments up to over several months, with the initiative allowing purchases up to a value of $500.

“At the heart of every initiative we do lies a deep desire to wow every customer, while providing an exceptional experience that makes uni life more affordable,”said Steffen Daleng, general manager for digital at The Co-op. “Having spent significant time vetting potential partners, we partnered with the company that we believe have the same values as us, and provide the best product and service to our members and customers.

“With our online buy now pay later option, we allow our customers and members to spend more time and money on the things in life they enjoy. Students no longer have to think porridge and water, just because semester starts. That’s true value for us, and we are thrilled that we can be part of making this difference in our customers’ lives.”

The initiative is powered by zipMoney’s product zipPay.

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