Revolutionizing Digital Finance: A Deeper Look into the Zip Co and Primer Strategic Alliance

In a strategic move to expand its presence in the US market, Zip has joined forces with Primer, a leading payment infrastructure provider. The collaboration aims to intensify Zip’s market penetration and leverage the immense potential offered by the US market.

Partnership and Expansion

With the objective of expanding and optimizing Zip’s payment stack, the partnership with Primer holds promising outcomes. Through this alliance, Zip aims to widen the distribution of its Buy Now Pay Later (BNPL) offering, with the support of WebBank as the lender. This initiative empowers merchants from various sectors, including retail, fashion, travel, and mobility, to seamlessly integrate Zip into their payment methods. By offering a convenient and flexible BNPL option, Zip can attract a larger customer base and drive its growth in the US market.

Impressive growth and revenue

Recent data showcases Zip’s remarkable growth trajectory. The company recorded a transaction volume of $8.9 billion, marking a significant 7.0% increase year-on-year (YoY). This surge in transactions reflects the growing popularity and acceptance of Zip’s payment solutions. Furthermore, Zip’s group revenue surged to $693.2 million, displaying an impressive YoY growth rate of 16.1%. These robust financial figures indicate Zip’s strong positioning in the market and its ability to provide customers with seamless payment experiences.

In addition to exceptional financial performance, Zip concluded the fiscal year 2023 in the US with sustainable positive cash earnings before interest, tax, depreciation, and amortization (EBITDA). This achievement highlights Zip’s focus on maintaining a strong financial standing and lays the foundation for further expansion and innovation.

Partnership benefits

Primer Co-Founder, Gabriel Le Roux, expressed his excitement about being the infrastructure of choice for Zip. This partnership aligns with Primer’s strategic goals as they witness substantial growth in the US market, predicting a remarkable 30-fold increase in payment volume in 2023. The collaboration with Zip allows Primer to further establish its expertise in the payment industry.

Larry Diamond, Co-Founder and US CEO of Zip, emphasized the significant advantages of partnering with Primer. Not only does the collaboration boost Zip’s growth trajectory, but it also equips them to harness the immense market potential sustainably and at scale. By leveraging Primer’s payment infrastructure, Zip can enhance its offerings and deliver a seamless and efficient payment experience to customers across the US.

The partnership between Zip and Primer is set to significantly impact Zip’s market penetration in the US. By expanding and optimizing its payment stack and leveraging Primer’s infrastructure, Zip can tap into the vast potential offered by the US market. The collaboration will empower merchants from various sectors and enable them to easily incorporate Zip into their payment methods, ultimately driving Zip’s growth and solidifying its position as a leading payment solution provider. With impressive growth figures, a sustainable financial outlook, and a strong partnership in place, Zip is well-positioned to capitalize on the immense opportunities in the US market.

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