Nah, nonsense. They cant shut them down, this one is a proper...

Nah, nonsense. They cant shut them down, this one is a proper legal licensed credit provider. Yeah they could go into administration or be liquidated like any other company but banks are the ones providing the $'s of rotating credit to them. They have to reconcile that debt, pay the fees on it etc ..... and that is what the banks do too you know. Not every penny the bank lends out comes from savings accounts, they got all sorts of instruments and borrowings too. Bank's in bed with these guys are making money to you know. If anything the banks buy them out or just hold a lot of their stock.

So their business is proving small loans, credit checked, simple repayment idea and low fees. No big bunch of BS opening an account like a bank, easy. They need to keep bad debts low, and overheads down .... the retailer is skimmed 4% to 6% and the consumer just has to find $40/month minimum and the worst case scenario is a $6/month fee.

Now as far as their profits go, sure in time they will come. But they can CR as they did, over subscribed some $30million or whatever .... shows the support for the concept knowing that fidgeting with fees, rates, and expansion will adjust the bottom line.

This Zip is a good idea, I think the best player in the BNPL scheme. And as a user it is a great facility to have and you can use it in store. Better than those Wallet Wizard style BS payday loans or Cash Converters or renting crap from Radio Rentals eh.

People value the MC by the potential it has, you could say exponential growth.

Yes the danger is making profit, no shortage of miners or any other businesses going bust but here the product is money not gold or iron ore etc. Profit can be made by tweaking and not approving crap customers .... they'd have an algorithm to sort it, they can tweak that too. Lots of people like me never pay a bill late as we get the discount, have a clean credit score. Seriously. who cannot afford $10/week to pay the minimum monthly, you'd have to be pretty hopeless.

What's their money spin, almost $1/2 billion now .... another year be double.... as more catch on more "skimming".