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Oxipay Review: Split your shopping costs over 8 weeks

Make purchases of up to $1,500 and choose interest-free weekly or fortnightly payments with Oxipay.

Oxipay has now become hummfind out more in our humm review.

Buy now, pay later is becoming a popular payment method for Kiwis looking to spread the cost of a purchase rather than paying upfront. This means that you can get that new product that you need now, even if you don’t have the funds in your account.

Oxipay is one such payment solution available in New Zealand that allows you to shop now and pay over time. Backed by FlexiGroup New Zealand Limited, Oxipay lets you split payments over 4-fortnightly or 8-weekly payments without any interest or fees – you’ll only pay a fee if you miss a payment.

How does Oxipay work?

Once you’ve signed up to Oxipay using your New Zealand issued Visa or Mastercard debit or credit card, you can use this payment method for goods and services at retail stores, dentists, mechanics, vets and spas.

Some businesses have Oxipay in-store or online only, while others accept it for both.

  • In-store. When you head to the checkout, log into your Oxipay account and select ‘Shop Instore’. You will be given a barcode and a 6-digit payment code which you will need to show to the store staff. Click ‘confirm’ and your first payment will be automatically charged to your debit or credit card. You can then leave the store and your next payments will be scheduled.
  • Online. If you are shopping online, select Oxipay as your preferred payment method at the checkout of participating retailers. You will be redirected to the Oxipay login screen so you can sign in to your account. Select your payment plan and confirm before being redirected back to the merchant site. Your first payment will be deducted from your credit or debit card and your items will be dispatched.

The minimum purchase using Oxipay is $20 with a maximum of $1500, but some stores may set their own limit. Oxipay lets you spread your payments out over four fortnightly instalments or 8 weekly payments if the transaction is $40 or more. You can set your preferred option in your Oxipay account.

  • Weekly payments. If your purchase is $40 or more and you have weekly payments selected in your account, the cost of your purchase is split over 8 weeks. For purchases under $1,000, you will be charged 12.5% of the amount at the time of purchase. The same amount will be charged every week for the following 7 weeks. If your payment is over $1,000, your first payment will be 12.5% of the purchase price plus the amount over $1,000.
  • Fortnightly payments. When you have selected fortnightly payments in your Oxipay account, your first payment at the time of purchase will be 25% of the total amount. You will then have 3 more payments of 25% in fortnightly instalments. For purchases over $1,000, your first payment will be 25% plus the amount over $1,000.

It’s possible to have up to five different Oxipay arrangements at the same time with different retailers. However, the total sum cannot exceed $1,000 at any one time. This is why you are required to pay any amount of $1,000 with your first payment.

When you sign up, you may not be offered a high credit limit to use as a new customer. Over time as you build a history of making payments on time, your limit may increase.

Which shops accept Oxipay?

Oxipay has a range of stores where you can use this payment method including:

  • Briscoes
  • Rebel Sport
  • Farmers
  • Stevens
  • PB Tech
  • Whitcoulls
  • Heathcote Appliances
  • Freedom
  • Strandbags
  • Pascoes

Some shops may only accept Oxipay either online or in-store only, so make sure to check this before you shop.

For a full list of which retailers and businesses accept Oxipay, visit the Oxipay website.

Features of shopping with Oxipay

  • No interest. Even though you have eight weeks to pay off your purchase, you won’t pay any interest.
  • No fees. Oxipay does not charge sign up, monthly or annual fees so you only pay for the cost of your purchase. The only time you’ll be charged a fee is if you make a late payment.
  • Simple sign up. Signing up takes just a few minutes with an easy online process.
  • Weekly or fortnightly payments. Choose to make your payments weekly or fortnightly to tie in with when you receive your salary or wages. Your purchase must be at least $40 to qualify for weekly payments.
  • Additional payments. You don’t need to wait until your payment due date to make your payment. You can make additional payments or pay off your balance in full at any time without penalty.
  • Returning goods. If you purchase something using Oxipay and decide that you want to return it, take it back to the store within its return policy time. Oxipay will adjust or cancel any future payments.
  • Online account. When you sign in to your Oxipay online account you can view the amount that you have to spend, your outstanding balance, purchase history and upcoming payments. You can also change between weekly and fortnightly payments.
  • Range of businesses. Oxipay is accepted at retail stores as well as spas, mechanics, optometrists, dentists, vets and more.

How much does it cost?

Oxipay is free to use so you won’t be charged a fee for signing up. You also won’t be charged any monthly or annual fees. The only ongoing cost to worry about is if you have made a purchase and have weekly or fortnightly payments.

While the service is free to use if you make your payments on time, Oxipay does charge a late payment fee of $10. You must make sure that there is enough money in your account on the days that your payments are scheduled to come out. If you still have not made a payment after 7 days you may be charged a collection fee of $30.

How to sign up

Before signing up to Oxipay, you must meet the following eligibility requirements:

  • Be at least 18 years of age
  • Live in New Zealand
  • Hold a New Zealand Driver’s Licence
  • Have a New Zealand mobile number and residential address
  • Have a valid email address
  • Have a Visa or Mastercard credit or debit card issued in New Zealand

Your driver’s licence must be supplied to verify your identity and your Visa or Mastercard is used to charge your Oxipay payments. If you don’t have either of these, you won’t be able to sign up to Oxipay.

To sign up, head to the Oxipay website and click on the Signup/Login button. You will be asked to fill in your personal details, licence information and debit or credit card number. Oxipay will assess your application and make a credit check then let you know of the outcome. If approved, Oxipay will provide you with the amount that you are able to spend.

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