Changes are happening - please bear with us while we update our site.

Changes are happening - please bear with us while we update our site. Click here to give us your advice and feedback.

Here’s what the Zip (ASX: Z1P) CEO is saying about its share price

The share price of BNPL provider Zip Co Ltd (ASX: Z1P) has shot up 8% this morning after the business provided a November trading update. 

The share price of buy-now-pay-later (BNPL) provider Zip Co Ltd (ASX: Z1P) has shot up 6% this morning after the business provided a November trading update.

Chief Executive Officer, Managing Director and founder Larry Diamond also commented on the Zip share price.

Z1P share price

Source: Rask Media Z1P 1-year share price
Source: Rask Media Z1P 1-year share price

Promising results going into the holiday season

Key highlights for the month of November include:

  • Transaction volumes of $906.5 million, 52% year-on-year (YoY)
  • Total transactions of 7.5 million, up 86% YoY
  • Customer numbers of 9.2 million, up 71% YoY

From a regional standpoint, the United States (US) was the standout with payment volumes up 54%. This was closely followed by Australia, up 42%.

Its emerging markets segment, which includes Canada, Mexico, Twisto (Poland and the Czech Republic), Spotti (UAE and Saudi Arabia) and Payflex (South Africa), added $51.5 million in transaction volumes.

“Zip now has one of the largest BNPL footprints goegraphically with the aim of servicing its global merchants and partners in a simple and easy format” – Larry Diamond

Operational update

Zip’s brand awareness in the US has improved to higher levels than before the rebrand.

Formally, Zip traded under the Quadpay name in the US.

The business also added several new merchants including Microsoft Edge, Revolve, Virgin, Puma Fuel and Shein.

Notably, Zip signed an exclusive agreement with Singapore’s largest telco Singtel (also the owner of Optus), to support its new Singtel Dash app.

Zip has completed the acquisition of Twisto, providing a footprint for European expansion.

The Payflex acquisition is expected to be completed by early 2022.

Recently, Zip has added to its leadership team.

Ahu Chhapgarm, who has previously worked at Paypal Holdings Inc (NASDAQ: PYPL) and Mastercard Inc (NYSE: MA) will join as Global Chief Technology Officer.

Additionally, Cynthia Scott who has held roles at Scentre Group (ASX: SCG) and Telstra Corporation Ltd (ASX: TLS), will join as Managing Director of Australia and New Zealand.

CEO takes share price “very seriously”

Despite the underlying business growth of the past year, the Zip share price has deflated 21% as the market cooled on the prospects of the BNPL sector.

“Management and the Board would also like to acknowledge the significant volatilty in equity markets, the impact to technology and fintech valuations and is taking this very seriously. We enter CY 2022 with strong momentum, in a solid financial position, with continued focus on execution, unit economics and global synergies” – Larry Diamond, CEO and Founder

If you enjoyed this update, consider signing up for a free Rask account and accessing our full stock reports.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Lachlan does not have a financial or commercial interest in any of the companies or funds mentioned.
Skip to content