when you use zip to buy things from a retailer, money didn't...

when you use zip to buy things from a retailer, money didn't come out of your pocket right away, right ?

but shop still gets paid right away, by who ? By zip.

but those billions of TTV , you think zip has that billions in hand ? No.

so where is the money from ? From banks / lenders.

can zip draws those money out as cash ? No.

those money are just meant for their books.

so how / when did zip pay back the banks / lenders ? Only when you pay back zip for your purchases.
the money you paid goes straight to banks/lenders books.

it's like i borrow from bank to lend you money , and you pay me back in 2 weeks , and i return it to the bank
it's just that the money never comes as cash in my hand. Only appears in accounting.

that's why bad debts / arrears are so critical for bnpl