Buy now pay later lender Zip pulls out of New Zealand market
Australian buy-now-pay-later provider Zip has announced it will exit the New Zealand market by August 17. The company stated the decision follows a strategic review aimed at focusing resources on its core Australian and US operations.
Why it matters
The withdrawal reflects a broader trend of consolidation in the fintech sector as companies prioritize profitable growth over geographic expansion.
Buy now pay later provider Zip has announced it is pulling out of the New Zealand market.
The Australian company said in an email to its New Zealand customers that no new purchases would be able to be made from August 17.
“After careful consideration, we have made the difficult decision to withdraw from the New Zealand market and we will be ceasing to provide the Zip Pay in 4 product,” the email said.
However, this does not affect any existing payment dates or amounts owed to Zip.
“You are still required to make all payments under any payment schedules on the payment dates specified.
“Details of your payment schedules are set out in your account dashboard.
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