CASH FLOW POSITIVE PARTY, page-62

Zip welcomes today’s announcement on regulation for the NZ BNPL industry. We are pleased to see that the government has struck a balance between providing customer protections while tailoring the approach to continue to encourage innovation and access to low-cost credit products.

We believe fit-for-purpose regulation for the BNPL industry in New Zealand will provide greater clarity and consistency across the sector, deliver confidence to stakeholders and build on the already very high levels of trust we have with our customers.

In New Zealand, we have always conducted credit checks on all customers, which we believe is an appropriate measure in assessing customer suitability. We also subscribe to Paywatch provided by Centrix, which ensures we do not lend to customers who are behind on payments to other BNPL providers. Zip is steadfast in the belief that customers should only buy now if they can pay later, and our credit assessment processes support this view.

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