Australian FinTech company profile #32 – Zip Co Limited
Zip Co Limited is an alternative payment solutions and credit provider, allowing customers to purchase products and services and pay later, interest free.
Afterpay, Zip propping up sluggish retail sales
In the six months to December 2018, listed buy-now, pay-later providers Afterpay and Zip accounted for about 16% of the growth in retail spending.
Australia’s favourite everyday department store Kmart switches on Zip
From the end of May, Kmart shoppers will be able to select Zip for flexible, interest-free repayments when they shop online with the iconic Aussie brand.
Zip Co revenue soars as new partners come on-line
Shares in buy now pay later company Zip Co have surged higher after the group reported a 20 per cent lift in revenue for the third quarter.
Big cards, personal loans player takes a look at Zip Co
Afterpay rival Zip narrows losses
Zip’s first-half net loss has narrowed as it more than doubled its turnover. On Thursday, the buy now, pay later provider posted a net loss of $6.8 million for the six months ended December 31, 2018, compared with a $14.6 million loss in the year earlier period. Its revenue was up 114 per cent to $34.2 million from $16.0 million turnover in the year earlier period. Zip said it now has over 1 million customer accounts and over 12,600 merchants. In the last six months Zip signed a number of major retailers to its platform, it said, including Bunnings, Target, Officeworks, Appliances Online and the Super Retail Group. To […]
Zip Co welcomes Chemist Warehouse to the platform
Digital payments platform, Zip Co (ASX:Z1P) has today announced a partnership with Chemist Warehouse retail group. Chemist Warehouse is Australia’s largest pharmacy retailer with revenue in excess of $5 billion and stores in 400 locations across the country. It’s expected that Zip will be live throughout Chemist Warehouse stores within the next two months. Zip CEO Larry Diamond says, the company is excited to partner with one of Australia’s top 10 retailers and expand their digital payment offerings. To read more, please click on the link below… Source: Zip Co welcomes Chemist Warehouse to the platform | Finance News Network
Zip throws down challenge to Afterpay and ‘outdated’ credit cards amid Senate inquiry
Buy now, pay later (BNPL) service Zip has described the current credit card model as ‘outdated’ compared to BNPL products such as their own, which they argue offer a ‘fairer’ payment alternative for Australian consumers. The comments from Zip CEO and Co-Founder, Larry Diamond, came amid a call for new regulations on the BNPL industry from the company, including conducting more stringent financial checks on customers and providing greater product transparency. “When correctly regulated, BNPL products offer a powerful tool for consumers to take control of their finances,” said Mr Diamond. “Compared to the outdated credit card model, these products provide a better, fairer alternative with simpler product constructs, interest-free […]
