“Can a BNPL lender survive the post-Affirm/Klarna shakeout by focusing on financially underestimated consumers in ANZ and the US?”
Founded 2013 in Australia as a revolving point-of-sale credit alternative to credit cards (Zip Pay, Zip Money). Acquired QuadPay in 2020 to enter the US market with a more standard pay-in-4 BNPL product — which has since become Zip's largest and fastest-growing segment. Has wound down Canada, Singapore, Mexico and UK operations, narrowing focus to ANZ and US. Distribution strategy now leans on Stripe and Adyen as embedded checkout partners.
Zip Co discloses WebBank as its sponsor bank, according to the Embedded Finance Index 2026.
Zip Co does not disclose a bank charter of its own; its banking services are provided through WebBank.
Zip Co processes payments through Zip BNPL (self-operated), Stripe (distribution partner) and Adyen (distribution partner).
Zip Co integrates with Xero.
The Embedded Finance Index 2026 maps 4 layers in Zip Co's stack: Payments / PSP (Zip BNPL (self-operated), Stripe (distribution partner) and Adyen (distribution partner)); Lending (Zip Pay, Zip Plus, Zip Money, Zip Personal Loan and 11 others); Sponsor bank (WebBank); Accounting (Xero).
Zip Co is founded in 2013 and headquartered in Sydney, Australia.
Get a read on where your own stack stands against Zip Co and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.