That was a brilliant interview by Cynthia in my opinion, she was...

That was a brilliant interview by Cynthia in my opinion, she was very well spoken and lots of interesting information revealed.

Firstly, almost all the growth in the US has been from existing customers - so huge room for growth here with getting new customers on board especially now that they have a profitable base to work from.

Secondly, she confirmed that interest rates being cut in the US would reduce their funding costs, and help their consumers as well which would be a tailwind for the US business (i.e. increased spending by consumers and reduced bad debts). She also said that the benefit of reduced interest rates in Australia is even higher than for the US given the size of their receivables.

Thirdly, 15% of transactions in ANZ are through BNPL. Only 2% of transactions in the US are through BNPL. So lots of room for growth there.

Fourthly, I abolutely love the idea they have introduced of gamifying repayments! Making it enjoyable to repay debt is a great idea! A customer can create a streak by making payments on time, and if they make repayments on time over the period of a quarter they unlock a credit limit increase.

Fifthly, she confirms they have had a very strong response from institutional investors who now have reconsidered Zip and joined their shareholder registry.

Finally, she is very pleased they delivered two strong quarters in the first half, and she said they will continue to do that in Q3 and Q4.

Looking forward to seeing how Zip continues its journey over the next 12 months!