Zip Partners with Global Payments Leader Primer to Accelerate U.S. Growth and Market Share
11 Septembre 2023 - 3:00PM
Business Wire
Leading digital finance innovator Zip Co (ASX: ZIP) has
announced a strategic partnership with Primer, the unified
infrastructure for global payments and commerce, to expand and
optimize its payments stack, as Zip further accelerates its growth
opportunity in the US market.
The announcement follows Zip’s recent year-end results, which
revealed record transaction volumes (TTV) of $8.9b (up 7.0% YoY)
and record group revenue of $693.2m (up 16.1% YoY). In the US, Zip
exited FY23 with positive cash EBTDA on a sustainable basis.
Primer unifies payment and commerce services while delivering a
powerful set of payment recovery, success and insights tools to
provide businesses with unrivaled flexibility and visibility across
their payments lifecycle. They will support Zip to access and
connect new card acquirers and processors, fraud and communication
tools to boost top line, while leveraging features such as
fallbacks to reduce operational costs and build for
contingencies.
The partnership with Primer will further drive distribution of
Zip’s BNPL offering, lender WebBank, with plans for Primer to also
add Zip as a payment option, enabling merchants across retail,
fashion, travel and mobility industries to add Zip to their
payments stack with just a few clicks.
Gabriel Le Roux, Co-Founder of Primer said: “We're
thrilled to be the infrastructure of choice for Zip. While
delivering localized payments expertise, optimization features and
insights, we’re supporting leading companies like Zip to optimize
payment costs and capture untapped revenue opportunities. Similarly
to Zip, the U.S. is a strategic market for Primer, where we have
experienced substantial growth and we anticipate a remarkable
30-fold surge in payment volume in 2023. We can’t wait to embark on
this partnership and partner with Zip to support the company’s
growth goals in the North American market.”
Zip Co-Founder and US CEO Larry Diamond added: “With an
$11 trillion total addressable market in the U.S., BNPL services
account for a mere 2% of all payments. Our partnership with Primer
not only accelerates Zip’s growth trajectory but also positions us
to seize this colossal market opportunity in a scalable and
sustainable manner.”
About Zip
ASX-listed Zip Co Limited (ASX: ZIP) is a leading global
financial services company, offering innovative, people-centered
products that bring customers and merchants together. On a mission
to be the first payment choice everywhere and every day, Zip offers
point-of-sale credit and digital payment services around the world,
including through strategic investments, connecting millions of
customers with its global network of tens of thousands of
merchants. Zip provides fair, flexible, and transparent payment
options to individual consumers, helping them take control of their
financial future and helping merchants to grow their businesses.
Zip is committed to responsible lending and is managed by a team
with over 100 years of collective experience in retail finance and
payments. Zip is also a licensed and regulated credit provider and
was founded in Australia in 2013. For more information, visit:
www.zip.co
About Primer
Primer is the unified infrastructure for global payments and
commerce. With unrivaled freedom and visibility across the payments
and commerce ecosystem, Primer equips merchants with the tools to
effortlessly optimize performance, build at pace, and capture
untapped revenue to achieve unstoppable growth
Operating in over 35 countries, Primer serves category leaders
in retail & ecommerce, travel & mobility, ticketing, and
fintech. It has raised over US$74M, backed by the likes of Silicon
Valley heavyweights Iconiq, Accel, Balderton, and RTP Global.
www.primer.io
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version on businesswire.com: https://www.businesswire.com/news/home/20230911938060/en/
Media contacts
For Primer
Shreya Varadarajan, +65 9360 4470
shreya.varadarajan@baldwinboyle.com
Hui Hui Lin, +65 8298 8724 huihui.lin@baldwinboyle.com
For Zip
Angela Nibbs
zip_us@maven-pr.com
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