Buy now, pay later instalments come to child care

Families attending care at Australian childcare centres will have more choice and flexibility when it comes to paying for childcare services, following Xplor Technologies’ collaboration with ‘buy now, pay later’ solution Zip Pay. Xplor Technologies, a global platform combining SaaS solutions with embedded payments and commerce-accelerating technologies for the childcare and education sector, will collaborate with Zip to help families spread the cost of paying for child care 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, thereby empowering families to have greater control of their financial situation and removing the need to involve the centre or ask for a payment loan. Floris de Kort, CEO of Xplor Technologies, said the company 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,” de Kort said.

Mark Woodland, CEO of Xplor Education, added that the venture into the buy now, pay later ecosystem with Zip will enable Xplor to offer people more flexibility with how they pay for child care. “We know there is demand for tailored payment options in the Australian market, and believe this innovative initiative will improve access to child care for more families,” Woodland said.

The collaboration follows the growth of the buy now, pay later market in Australia and New Zealand; in 2020, approximately 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, with families able to access the service directly from their childcare centre’s mobile app, for a quick and efficient payment process. Xplor’s collaboration with Zip aims to provide a sector-wide solution for families, at scale.

Image credit: ©stock.adobe.com/au/Justlight