Affirm vs Zip US, page-43

thats funny, (why you want to keep talking about APT?)

seems like zip is onboarding higher risk customers

If zip bad debts as a % of ttv was lower you might be onto something. but it appears something broken with zip.

you got a hole in your onboarding customer bucket.



zip group
ttv ~5.8B
bad debt $74.5M
group bad debt v TTV 1.28%

zip excluding au
ttv ~2.56B
bad debt 41.5M
bad debt v TTV 1.62%

APT
ttv 21.1B
bad debt 195M
bad debt v ttv 0.92%

zip au bad debt comes in lower than zip group because of the nature of its longer revolving credit card style product at 1.28% of TTV.

zip (excluding au) bad debt comes in at 1.62% of TTV

better comparison is similar product quad (zip US) and APT.

bad debt %

zip 1.62% or 1.28% (if you include au)
vs
APT 0.92%

whats wrong with you algos and credit checks??