The Zip file extension does not really have a full form. The informal meaning of zip is "move at high speed". The name .ZIP was suggested by the creator's (Phil Katz) friend, Robert Mahoney.

.ZIP is an extension/file format of the most popular file compressor used with windows, Mac and Linux systems. A Zip file could be understood as the combination of multiple compressed files and folders, sometimes combined together to form an archive. This combination of files into a single package and reduction in size, makes it easy to download/upload or mail.

WinZip is the most popular software used to create a zip file. You may use this software to create a zip file, or to unpack the contents of a ZIP file.