Australia’s Zip taps US market with buyout of QuadPay

The move pits Zip against larger Australian BNPL provider Afterpay Ltd, and others, in the US consumer finance market which has boomed as younger shoppers seek low documentation alternatives to interest-charging credit cards.

SYDNEY: Australian buy-now-pay-later (BNPL) company Zip Co Ltd said it will buy New York rival QuadPay Inc in an all-share deal that values the target at US$269mil, joining a rush of Australian companies to tap the world’s largest consumer market.

The move pits Zip against larger Australian BNPL provider Afterpay Ltd, and others, in the US consumer finance market which has boomed as younger shoppers seek low documentation alternatives to interest-charging credit cards.