ZIP 1.39% $1.83 zip co limited..

Ann: Q3 FY22 Results - Zip Accelerates Path to Profitability, page-68

  1. 112 Posts.
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    Credit checks are not fool proof. I would guess that 30-40% of their portfolio has a default on it.

    Credit checks give you good data you feed into your model. It appears the model isnt working as intended.

    I would also argue that their default rate at 3.4% is actually really good considering its unsecured debt to a risky portion of the population.
    What isnt good is that their margin isnt good enough to make a profit out of that level of default.

    There is a reason cash converters etc etc charge what they do. High risk, high rate.
 
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