i believe in the two main markets for ZIP, iPhones have around 58% share. In both. I think more importantly, those iPhone users will represent, as a whole, a far more attractive BNPL customer due to many reasons such as disposable income, fiscal knowledge, credit scores etc = less bad debts.
ZIP and co would be a second choice for Apple customers. Telling friends and family you use Apple pay would sound cool and smart. Telling the same people you use ZIP would probably get a different reaction.
The litmus test is 12 months away as fixed rate mortgages flip to variable. Rents continue to rise as immigration continues to create demand and whats left of Covid era savings buffers are exhausted. Only then, IMO, will we see #1, how discretionary spending will be impacted and #2, what happens to Zip’s bad debt performance.
I just can’t see Zip ever being a powerhouse or top of wallet product and I also don’t see it collapsing. Some people are making too much money from it to let that happen. IMO it will just fade into the background and plod away.
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