Upfront Summary: Is Quadpay Legit?
Zip, previously known as Quadpay, is a payment plan company that allows you to pay for things in four installments. It is a legit and verified company that Zip Co owns. So you can rely on it entirely to make purchases at different stores.
58.5% of consumers used buy now pay later services in 2021. Many people use this payment model to purchase things without breaking their bank. Quadpay is a company that enables you to buy items and pay for them later.
If you require a buy now pay later service, you may be thinking of using this platform. Of course, you may also be wondering, “Is Quadpay legit” and safe. So here is a complete guide to help you.
Quadpay Company Information
| Official Website: | https://zip.co/us |
| Headquarters Location: | 228 Park Ave S, PMB 59872, New York 10003-1502 US |
| Founded: | 2017 |
| Industry: | Consumer Finance, E-commerce |
| Ownership: | Brad Lindenberg and Adam Ezra |
| Contact: | 888 274 3159, us-support@care.zip.co |
| Trust Score: | Excellent |
| Social Media: | Facebook, Instagram, LinkedIn, Twitter |
» MORE: Payoneer: Is It Safe? How Trustworthy & Legal Are They Actually?
What Is Quadpay?
In 2020, Quadpay was acquired by Zip Co. This is why now the platform is called Zip. A key thing to note is that Zip has 9,900,000 customers worldwide. The company also has more than 81,000 retail partners all over.
Quadpay follows the buy now pay later model to help you purchase things without worrying about your finances. You can use this payment method at all stores that accept Visa cards. Amazon, Walmart, Target, eBay, Victoria’s Secret are some places that allow you to use Quadpay.
The platform allows you to make four payments over six weeks to complete the transaction. A great thing about this service is that you can download its app from the Play Store or App Store.
However, you must note that Quadpay will charge a small convenience fee along with each payment. Typically, you have to make one payment after every two weeks.
The company will verify your identity during the checkout and approve you for the installment. However, Quadpay can also refuse the split-payment option if you have sufficiently high funds in your account.
» MORE: Can You Trust Wise (TransferWise)? How Verified & Trustworthy Are They?
Is Quadpay Legal And Safe Or A Scam?
Is The Site Generally Legal? In All Countries?
The best part about Quadpay is that its website is legal and operates in most countries. All trademarks of the company are registered and authentic. This is why you can be at ease that Quadpay is legal and safe.
How High Is The Chance Of Being Scammed?
There is no chance of being scammed on Quadpay. However, you must note that the company may decline you from paying in installments. This can happen if you have exceptionally high funds on your card. The purpose of Quadpay is to help people that need an item but lack the total amount.
Does The Site Contain Viruses Or Malware?
The site does not contain viruses that will harm your laptop, mobile, or other devices. You should also not worry about malware when using the Zip website. The platform is secure for making payments and complies with various data safety rules.
Does The Site Steal Sensitive Data?
Quadpay does not steal sensitive data, such as your credit card details. The company is also compliant with PCI DSS. This organization requires brands to keep customers’ credit card data safe.
Are There Similar Fake Sites To Be Aware Of?
Quadpay has only one website that you can access from different parts of the world. You must note that the platform’s current name is Zip. There are no fake sites that you should be worrying about.
» MORE: Can I Trust Skrill? How Verified & Trustworthy Are They Actually?
Is Quadpay Reliable And Trustworthy?
How Good Are The Company’s Overall Web Ratings?
The overall ratings of Quadpay are excellent, and the majority of the web reviews are positive. This platform has a 4.01/5 rating on its Better Business Bureau profile. The rating consists of 1,194 customer reviews.
Meanwhile, it has a 4.6/5 rating on Trustpilot with an excellent score. This includes 7,682 customer reviews. So you can rely on and trust Quadpay to help you pay in installments.
Does The Site Have A Refund Policy?
Quadpay will refund you as long as your seller approves the refund and return the funds. You must note that your payments through Quadpay go to the merchant. This is why you will have to contact the retailer for a refund.
If the retailer approves your request, Quadpay will get the funds because of the original payment method. After receiving the money, the platform will send the entire amount to your card within 13 days.
How Many Scam Reports Are There Compared To Positive Reports?
There are no scam reports of Quadpay on the internet. The service mainly has positive reports. The few negative reviews that this platform has are complaints of customers who were declined the installment option.
How Reliable Is The Customer Support?
The customer support of Quadpay is highly reliable because the company is legit. You can call the service provider and get live assistance. Besides that, you can also email Quadpay if you have a query.
» MORE: Is M1 Finance Reputable & Safe? What Is Their True Quality?
The Pros And Cons Of Quadpay
Pros
- Suitable for emergency expenses
- Acceptable by thousands of retailers
- No hard credit check
- It takes less than ten minutes to set up
Cons
- May reject you from paying in installments
- Charges a late fee if you fall behind on payments
- Requires you to pay a minimal fee with each installment
» MORE: Is Windscribe a reliable and safe app? How Excellent Are They Actually?
How Does Quadpay Make Money?
Quadpay primarily makes money by charging a convenience fee of $1 on each installment. This means that the company earns $4 for each person that uses the app. Besides that, the platform also makes money by taking merchant fees.
Typically, the platform deducts the merchant fee from the retailer’s payment. Quadpay takes 2% to 4% amount from the original price. The good news is that you don’t have to worry about this if you are using the app as a buyer.
Lastly, Quadpay also charges a late fee of $7 for each week you fall behind. For instance, the platform will ask $14 if you are two weeks late.
Best Quadpay Alternatives
Here are the top alternatives you can consider if you don’t like Quadpay:
- Klarna
- Venue
- Afterpay
- Affirm
- Sezzle
- Splitit
- ViaBill
» MORE: Affirm: Is It Safe? How Verified & Trustworthy Are They Actually?
FAQ
Here are the answers to the FAQs about “Is Quadpay Legit”:
Can I Extend My Quadpay Payment?
Quadpay allows you to extend the payment date in some cases. The approval will depend on the management. Another thing you must remember is that you will have to contact the company beforehand.
Besides that, you should ensure that you are requesting at least 24 hours before the next due date. If you exceed this window, the company will not approve the request.
The platform can reject the date extension without disclosing a reason too. This is why it is always best to pay the installments on time instead of asking for an extension.
Can I Use Quadpay For Online Orders?
You can use Quadpay for online orders by downloading the Zip app. The application will show you the available retailers. After that, you can click the shop and view the items.
You will have to choose the “split in 4” option to pay in installments during the checkout. The top thing to note is that you cannot use Quadpay by checking the retailers’ websites on the web. You must use the Zip app for the buy now pay later service.
Can I Pay Off Quadpay Early?
The top thing to remember is that Quadpay saves your card details and deducts installments automatically on the due date. So you will have to manually pay if you want to give money early. The platform will not charge a prepayment penalty for this option.
However, you must note that you can pay early for one installment at a time. This means that you will have to wait for the first due date to pass if you paid early and then make another early payment for the second installment.
How Long Does Quadpay Take To Pay Merchants?
If you are a merchant using Quadpay, you can expect to receive a payment within seven days. Typically, the platform processes the funds on the next business day after receiving them from the customer. Of course, it may take more days sometimes, depending on your bank’s processing time.
» MORE: Is Robinhood Genuine & Safe? Do They Actually Pay Off?