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Companies

Afterpay, Zip, React To Proposed Buy Now Pay Later Regulations

“Afterpay and Zip have shared differing opinions on new regulatory options put forward by the Treasury will impact the buy now, pay later sector. In the Treasury’s paper, three options are offered. The first would amend the Credit Act to require that BNPL providers check that a certain product is affordable for a customer before […]
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Companies

Zip Accelerates BNPL Adoption with Arrival of Zip Card, Unlocking BNPL Everywhere Advantage for All of Life’s Moments

Today BNPL pioneer Zip Co announced the availability of Zip Card, issued by WebBank, the newest buy now, pay later product offered through its portfolio. As consumers look for BNPL options in brick-and-mortar retail, the Zip Card extends the ‘Pay-in-4*’ functionality offline in a convenient physical card format. In the Zip card pilot program1, an overwhelming […]
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Companies

Australian BNPL Zip May Take Charges on US, Europe Units, ‘Deprioritise’ Crypto Offer

“Australian buy-now-pay-later company Zip Co said on Thursday it was weighing an impairment charge on its new US and European businesses, exiting Singapore and “deprioritising” a cryptocurrency offering, citing challenging market conditions. “Reflecting current market conditions, the company has reviewed the goodwill against the Spotii, Twisto and Quadpay assets and is assessing the need to take an […]
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Companies

BNPL Provider Zip Closes $7.5m Money App Pocketbook

“Australian buy now, pay later provider Zip Co is closing its money management app that it acquired for $7.5 million as the embattled sector struggles with ballooning bad debts, rising interest rates and harsher regulations. The app, called Pocketbook, was acquired in 2016 and reportedly has 800,000 users but is being shuttered by Zip as […]