Investor Newsletter

Investor Newsletter
This edition we highlight our half-yearly FY23 results and ongoing strategic focus towards group EBTDA profitability
Peter Gray, Zip co-founder and Global COO
Product inovation
Zip continues to innovate product to meet our customers needs, with a recent refresh of our instalments experience enabling customers to pay on time and also supporting growth for merchants in key verticals. Bank linking has also been enabled on the platform to provide customers with a holistic view of their financial position.
Zip is experiencing incremental volumes and higher customer engagement through the physical card program in the US with over 300,000 cards now in market, and significant pent up demand from the existing backbook, contributing 28% of instore volume (in December).
BNPL's retail boost
Zip's unique value proposition and product construct, supporting both everyday and discretionary spend, sees the company well-positioned to become even more meaningful to our merchants and customers in a challenging external environment.
The Australian Finance Industry Association has released data showing that buy now, pay later providers delivered $1.5 billion in net benefits to Australian retailers last year and $87 million in net benefits to consumers through savings in interest and fee costs (relative to credit cards) and surcharge savings. See the full report here.
That's a wrap
As you can see, our half-yearly results have positioned us well for the rest of FY23, and we're excited to continue the Zip journey with you.
As always, thank you for your support. If you have any questions or feedback, don't hesitate to reach us via investors@zip.co
See you next quarter!