Consumer finance contender zipMoney aims to grab a substantial slice of the point of sale finance market by exploiting several gaps in the market, according to its chief executive and co-founder Larry Diamond.zipMoney, which was incorporated in June 2013 and started writing loans early last year, made its debut on the Australian Securities Exchange yesterday after completing a A$5 million capital raising and a reverse takeover of Rubianna Resources.The company offers a similar service to groups like FlexiGroup. It distributes through retailers and other merchants, providing no-interest loans at the point of sale.Diamond believes there are several big opportunities for the company.At the moment there are no consumer finance providers with a strong share of the online retail market."The incumbents have a strong bias towards physical retailers with a very limited digital footprint," Diamond said.He said the incumbents also preferred to deal with large retail chains, leaving small retailers under-serviced.And, in addition to retail, zipMoney will target the health (dental clinics are already clients), education and travel markets. Diamond said these markets were also under-serviced.In the year to June the company originated around $5 million of loans, about 5000 active customers and more than 100 merchants on its platform. It has originated around $4 million of loans so far in the September quarter.The company has developed its own cloud-based technology, claiming it is faster and more convenient for consumers and offers a lower "cost to serve" model for merchants."Our platform is entirely digital. A credit application takes three minutes on a mobile and there is no need for sales staff to do any paperworkIts product is a line of credit with a current rate of 19.9 per cent. The standard interest-free period on a transaction is three months, although merchants can extend that period.The company has loan facilities worth $20 million (it has not revealed the lenders), which it aims to increase to $100 million. It is working with Columbus Capital to establish a structured warehouse facility and securitisation program.The company announced yesterday that it had hired former PayPal Australia head of retail Jonathan Kelly as its director of merchant services. In May it poached FlexiGroup's national accounts manager Craig Dufficy to be its national sales manager.