Today BNPL pioneer Zip Co announced the availability of Zip Card, issued by WebBank, the newest buy now, pay later product offered through its portfolio. As consumers look for BNPL options in brick-and-mortar retail, the Zip Card extends the ‘Pay-in-4*’ functionality offline in a convenient physical card format. In the Zip card pilot program¹, an overwhelming majority (90%) of participants said the card makes in-store shopping easier. With a quarter million waitlisted customers, the highly anticipated card is now available in the U.S., enabling consumers to ‘Pay in 4*’ nearly everywhere* Visa is accepted.

“The Zip app lets customers use the pay later service pretty much everywhere*…even on shopping sites where Zip is not at the checkout option,” said Zip’s U.S. Chief Marketing Officer, Jinal Shah. “With the Zip Card, we are offering customers access to another fair, transparent payment method in a familiar format to use in-store, specifically at stores that do not accept contactless or mobile phone payments.”

“Australian buy-now-pay-later company Zip Co said on Thursday it was weighing an impairment charge on its new US and European businesses, exiting Singapore and “deprioritising” a cryptocurrency offering, citing challenging market conditions. “Reflecting current market conditions, the company has reviewed the goodwill against the Spotii, Twisto and Quadpay assets and is assessing the need to take an impairment charge,” the company said in a trading update. “Zip is in the process of closing its Singapore business, consistent with the aim to reduce group cash burn. Previously planned new financial services products, including crypto have been deprioritised,” it added.”

“Australian buy now, pay later provider Zip Co is closing its money management app that it acquired for $7.5 million as the embattled sector struggles with ballooning bad debts, rising interest rates and harsher regulations. The app, called Pocketbook, was acquired in 2016 and reportedly has 800,000 users but is being shuttered by Zip as part of significant changes to the company’s operating environment, it said.”