Zip Co completes QuadPay acquisition

Zip Co (Z1P) has completed the purchase of QuadPay, a leading high growth buy now, pay later (BNPL) player in the United States.

Quadpay allows customers to pay in four interest-free instalments over six weeks, online and instore.

In early June, Zip announced it would purchase the New York-based company in a script deal worth $403 million.

In August, the company reported a record month for QuadPay as it delivered monthly transaction volume in excess of US$70 million (approximately A$97 million) — a 30 per cent increase on the June average and a 600 per cent on July 2019 figures.

CEO and co-founder, Larry Diamond, is pleased to welcome QuadPay to the Zip family.

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Source: Zip Co (ASX:Z1P) completes QuadPay acquisition – The Market Herald