I agree with some of your points. Yes, we are a minority holder,...

I agree with some of your points. Yes, we are a minority holder, however Zip has already agreed to terms to increase their stake and it is likely that as a much bigger entity will eventually takeover Zest.

Again, the term "users" would refer to someone who has made a purchase (used the app). Steve Croth was referring to Zest users inclusive. So it is highly likely Zip will solely want to own a strategic foothold in India with the rate at BNPL is growing. Particularly as they expect it to be the largest BNPL market in 5 years.

I don't think there ever would of been a perfect time to rebrand. BNPL is a rapidly growing industry and Zip needed a unified global brand ASAP. Mostly for their merchants/partnerships, of which many can now easily expand across Zips technology in 12 markets.

I am a fan of acquisitions in the right geographies. I know it costs money, however Zip does their due diligence for many months before triggering a small initial investment. So we need to have trust in their process. The main benefit is that we automatically gain an exisiting customer base and revenue. Unlike starting from scratch in the UK, which is of concern.

It will be very interesting to see how Zip plans to execute with Spotii and Twisto once acquisition is complete. I assume once it's all finalised, Zip will roll out their global rebrand over there in the near future.