Zip Co Limited(ASX: Z1P) has signed a partnership with Facebook that will enable small and medium-sized Australian businesses to use Zip Business to pay for advertising on the global social platform.
Currently in testing, the service will enable small businesses advertising on the platform to reach the millions of Australians now shopping online, drive sales and invest in growth, without impacting their cash-flow.
Zip Co-Founder and COO, Peter Gray, said the partnership is the next exciting step in the development of Zip Business. The full service will commence with a controlled, staged roll-out, starting with Facebook pre-paid advertisers.
With 14 million Australians using Facebook every day, the social network is an increasingly important advertising channel for small businesses,” Mr Gray said.
“Providing Zip as a payment option makes Facebook advertising even more accessible and valuable to business owners and helps smooth their cash-flow.
“Small businesses are a crucial part of the Australian economy, making up almost 98% of the business sector. For many of these businesses, cash-flow is a primary concern, and 92% of small businesses believe they would have generated more revenue in the previous year if their cash-flow was better.
“Partnering with Facebook is an important step not only in the expansion of Zip Business, but in helping small business owners to capitalise on recent growth in the ecommerce sector and to get ahead.”
Facebook Australia and New Zealand Director, Paul McCrory, said small to medium businesses are the heartbeat of the Australian economy.
“When businesses succeed the entire community benefits. We are excited to launch the buy now pay later advertising payments integration, that will help businesses access capital to grow.
“This innovation, coming directly from Australia, holds great potential to ensure small business thrives.”
Zip Business gives small and medium business owners access to Zip’s buy now pay later digital wallet to help run their business and pay for everyday expenses interest free.