Zip has been flying by the seat of its pants by continually increasing fees to try to stay ahead of the overall cash heamorraging.
Cutomers are not stupid though and they constantly need to replace those who wise up to the punitive lending charges and drop off the system, with new unsuspecting customers.
It was obvious that sooner or later they would run out of gullible people and the customer churn rates will get higher .
BNPL is in a death spiral now.
Ann: Q4 FY23 Results Update - Zip Continues to Deliver, page-424
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