Customer Base/QUAD/Tap, page-400

The fact it looks as if they're using the Zip brand in Canada, literally next door to Quadpay's market, and using Zip in the UK, which will likely be their 2nd largest market in the medium-term, tells you everything you need to know. There is literally no reason to use Zip in Canada, next door to several million Quadpay users. Having a mish-mash of different brand names is not ideal - there is a reason why some of the most successful companies in the world don't do it. Now don't go getting confused with conglomerates of differing products - I'm talking about essentially the same product. A single global Zip brand with some form of improved access to US investors will drive this a lot higher - talk of somehow splitting out just Quadpay for an IPO is ridiculous, they're a single company now.