PERTH: Zip Co Limited accelerates its global expansion with the acquisition of US Buy Now Pay Later player, QuadPay. Zip also announced capital raise.

“From the start, we’ve been on a mission to bring fairer, faster, more flexible ways to pay to as many people as possible,” a statement said.

“Joining forces with QuadPay extends our operations to five countries and gives Zip access to the United States’ $5 trillion+ retail market, the world’s largest.

“Launched in 2017, US-based QuadPay is a high growth payments provider. Like Zip, it’s been an active disruptor of the credit card industry. With a strong focus on innovation, QuadPay was among the first BNPL providers to leverage virtual card technology with QuadPay Anywhere.

“This deal will create a global payments business with AU$3 billion annualised TTV, 3.5m+ customers and 26K+ merchants. We’ll be challenging establishment models and changing the landscape in Australia, New Zealand, USA, UK, and South Africa.

“Two things that we pride ourselves on are our transparency, and doing what we say we’re going to do. We never made a secret of our ambition to go global. Now look at us go”.

Zip Co Limited is a leading player in the digital retail finance and payment industry. The company offers point-of-sale credit and digital payment services to the retail, education, health and travel industries.