Whats wrong with zips credit checks if they get a
higher % of bad debts than afterpay??
Since many on this forum a constantly saying zip is undervalued when compared with its peers I put together a comparison of zips bad debts vs a local competitor (APT, you may have heard of them)
Ive heard it many times here that zip has a lower
bad debt % than APT "because they do credit checks
and APT dont", but nobody backs it up with comparative numbers.
zip have traditionally showen bad debts as a % of receivables whilst APT have bad debts as a % of TTV.
the two different methods are obviously not comparably.
Why?? because of the time for loans to be paid varies so much.
example
zip AU bad debt % is 1.82% due to (long term payment options)
zip group excluding AU bad debt % is 13.24% due to (short term payments plans (mostly))
So here is a better comparison of bad debt % putting both companies using TTV as the denominator.
zip global
bad debts = 74.5M
TTV = 5.8B
zips bad debt % = 1.28%
APT global
bad debts = 195.1M
TTV = 21.1B
APT bad debt % = 0.92%
seems like APT repayment capability check is superior to zips credit checks.
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