PayPal and ZipPay are the two types of payment methods, that are used to pay bills and installments in the online mode. Nowadays, the billing or payment system has taken a great toll in the online mode, or in other words, people prefer the cashless mode of payment as it is convenient, also it saves a lot of time, people do not require to carry a huge amount of cash from payments, and also they do not require to run to the ATMs to withdraw cash for any kinds of payments. In short, these are digital payment methods. Even though both PayPal and ZipPay are online payments method/applications have many similarities, but at the same time, they do differ from each other.
PayPal vs ZipPay
The main difference between PayPal and ZipPay is that PayPal charges some amount of money or fee to use its services. On the other hand, ZipPay does not charge any kind of money or fee for the usage of its services. PayPal is one of the leading financial companies in various countries. And on the other hand, ZipPay is not as good as PayPal and hence it is not even in the top list of the countries.
PayPal is a multinational company in financial technology that enables its users to use the online payment method for any kind of transactions in the online mode. This financial company is situated in America. PayPal services charge some amount of money or fee for the usage of their services. Also, it is one of the leading multinational financial companies that has grown its boundaries in various website categories.
On the other hand, ZipPay is also a multinational company in fintech that is used to pay bills or instalments, or for any kind of transactions in the online mode. It is situated in Australia. The ZipPay service does not charge any money for the usage of its, hence it is free of cost. The ZipPay has no leading role or is not concluded amongst the top financial company in any category of the various websites.
Comparison Table Between PayPal and ZipPay
| Parameters of Comparison | PayPal | ZipPay |
| Definition | PayPal is an MNC that enables its users to use the online payment method for any kind of transaction digitally, but it charges fees for its services. | ZipPay is also a multinational company of financial technology that is used to pay bills or instalments, or for any kind of transactions in the online mode, but it does not charge any kind of fee for its services. |
| Headquarters | The headquarters of PayPal is situated in San Jose, California, United States. | The headquarters of ZipPay is situated in New South Wales, Australia. |
| Establishment | PayPal was founded in the year 1998. | The ZipPay was founded in the year 2013. |
| Extra Charges or Fee | PayPal charges an extra amount of money or fee for the usage of its services. | The ZipPay does not charge any money for the usage of its services. Therefore, it is free of cost. |
| Ranking in Various Websites | PayPal is one of the leading or top financial technology companies on various websites. | ZipPay is not the top financial technology company on any website. It is not even counted in the list. |
| Names of the Countries, where the respective companies are leading | PayPal is the topmost financial company in the United Kingdom, United States, Italy, Germany, and many other 158 countries. | ZipPay is not included in any the-most financial companies in any country. |
What is PayPal?
PayPal is a financial company that provides people with the services of transacting money through their online payment mode system. It helps people to pay their bills and installments easily, through their application. PayPal’s headquarters is situated in San Jose, California, United States. It was founded in the year 1998. Also, the PayPay application charges some amount of money or fees for its services.
PayPal is considered one of the leading financial technology companies for its amazing features and services. It also does not charge any kind of interest or monthly fees to its customers. One main benefit or advantage of PayPal is that it is accepted and used in most places. It provides its transaction service without any limitation to its customers if their account is verified by PayPal.
PayPal is concluded as the most used service for traction on many websites, and hence it is considered the leading payment system. It is also ranked top used payment systems in various countries such as in United Kingdom, United States, Italy, Germany, and many other 158 countries. PayPal requires some eligibility to open an account on their application, and this includes being 18 years old and not less than that, next it requires to be a permanent resident of the respective country the customer lives, a valid address, phone number, etc.
What is ZipPay?
ZipPay is also one of the most used payment methods, that is used for online payment or transitioning money. This application is widely used by many people. It has a plus point in its services, that it does not charge any money or not even a single penny for the usage of its services. Hence, it is loved for this tractioning quality. The headquarters of ZipPay is situated in New South Wales, Australia. And it has been founded recently in the year 2013.
Even though ZipPay is widely used by many people but it is still not considered or is amongst the top online payment applications in any country. Since it has been recently set up in 2013 and is still growing its boundaries in various countries. Also, one thing that a customer of ZipPay should keep in mind is that it has some limitations of Transacting money.
ZipPay also charges some amount of penalty as of the 21 days of the policy of not paying the minimum money. It does not charge any interest by the customers. Its eligibilities include average age of 18 years, it also requires to be a permanent resident of Australia, it also requires a valid Facebook account and PayPal account, etc.
Main Differences Between PayPal and ZipPay
- PayPal is a multinational company of financial technology that enables its users to use the online payment method for any kind of transactions in the online mode, but it charges a fee for its services. On the other hand, ZipPay is also a multinational company of financial technology that is used to pay bills or installments, or for any kind of transactions in the online mode, but it does not charge any kind of fee for its services.
- The headquarter of PayPal is situated in San Jose, California, United States. On the other hand, the headquarter of ZipPay is situated in New South Wales, Australia.
- PayPal was founded in the year 1998. On the other hand, the ZipPay was founded in the year 2013.
- PayPal charges an extra amount of money or fee for the usage of its services. On the other hand, ZipPay does not charge any money for the usage of its services. Therefore, it is free of cost.
- PayPal is one of the leading or top financial technology companies on various websites. On the other hand, ZipPay is not the top financial technology company on any website. It is not even counted in the list.
- PayPal is the topmost financial company in the United Kingdom, United States, Italy, Germany, and many other 158 countries. On the other hand, ZipPay is not included in any of the most financial companies in any country.
Conclusion
PayPal and ZipPay are the two most amazing financial technology companies. These are payment or billing methods that are used to make some transactions of money anytime and anywhere because it is in online mode. These two payment methods have made the transaction processes so simple that both the applications are frequently used by people. Even though both the methods of transactions are the same, but at the same time they differ in a lot of aspects from each other which includes, their charges, ranking, foundation, headquarters, etc, and many more. Also, from the above-mentioned differences, we can conclude that PayPal has a lot of advantages and is a more reliable system than ZipPay by many people all over the world.
References
- https://onlinelibrary.wiley.com/doi/abs/10.1111/dar.13025
- https://www.rba.gov.au/publications/bulletin/2021/mar/developments-in-the-buy-now-pay-later-market.html