Microsoft Edge has included a new ‘buy now, pay later’ (BNPL) service called Zip, which some people have started seeing in the browser, and it’s not going down well with the general public or their reaction.
According to a blog post from Microsoft a few weeks back, “Zip (formerly Quadpay) will be providing a browser-level payment option for BNP transactions.”
People may now use Zip on any site, not only those that provide buy now, pay later options, thanks to the integration of Zip into Edge. As an alternative, they may use Microsoft Edge instead, and “any purchase between $35 – $1,000 you make using Microsoft Edge can be divided into four installments over six weeks.”
Some users are outraged and alarmed by Microsoft’s decision to make it simpler for Edge users to pay for things using Zip. After seeing the functionality in early versions of Edge Canary and being made available to everyone in the United States with Edge 96, more individuals are now raising their concerns about it.
This new function appears to have received mostly negative feedback on Microsoft’s site, which makes us wonder who this feature is intended for.
It’s apparent that both Microsoft and Zip stand to gain substantially from customers adopting this function, which Microsoft is promoting as a consumer-friendly tool that allows consumers to purchase more expensive things more readily.
For starters, even when interest-free installments are offered, you still have to pay $1 for each installment, which works out to $4 for the majority of transactions. Even while a $4 fee may not seem like much, it will be visible on lower-priced products. Concerningly, Microsoft didn’t disclose this allegation in its blog post.
There’s a vast potential client base for Zip now that it’s included by default in Windows 10 and Windows 11, and Microsoft will almost certainly earn a cut of Zip’s profits from the fee every time it is used.
Some individuals are apprehensive because of the obvious financial advantages for the two firms. Zip integration, of course, might make it easier for customers to buy products without having to qualify for the credit, but there are also some problems here.
There is a risk that BNPL will push individuals to buy goods they can’t afford, even if they are really helpful. When someone pays through Zip, there are no interest or credit checks. However, if someone misses a payment, their credit score may be severely affected. There is no benefit to paying on time, therefore you’re taking a risk with no gain. You may be charged a $5 late fee if you miss a payment, and if your bank rejects a payment, “a $10 dishonor fee will be levied to your account.”
People who are struggling with their finances may find up utilizing this tool unnecessarily since it is so easy to obtain and there is no warning of the potential consequences.
In terms of Zip, the “pay later” aspect isn’t that far off, since you pay the six-week payments over the course of the six weeks.
Some individuals have complained that this is another function to be introduced to Edge, making the web browser feel bloated. As a result of its enhanced performance, Microsoft’s new Edge browser, which uses the same Chromium engine like Google’s competitor Chrome, was widely praised.
Because of these controversial elements, the browser now seems to be congested, as well as giving the appearance that Microsoft cares more about generating money than delivering a decent user experience.” Even if that’s the case, it’s not a pleasant feeling to know that Microsoft is one of the world’s most powerful corporations because of its altruism, which is probably accurate.
