Australia-based digital financial services company Zip has announced its plans to list on Nasdaq while also maintaining its primary listing in its home country.
The news about the listing comes along with Zip’s announcement regarding its 25% surge in its shares, hitting its highest level since 2022. Additionally, the BNPL provider reported higher annual earnings, with this growth being associated with its significant performance of its US business, which provided a 41.6% in total transaction volume (TTV), mostly supported by spending on non-discretionary items.
When it comes to the listing on Nasdaq and its plans to keep its primary one in Australia, the move is projected to assist Zip’s growth opportunity in the US, which currently represents over 80% of the divisional cash earnings. The company’s officials mentioned in a statement that Zip had seen a boost in interest from US investors. Now, Zip’s US offering includes Pay in 4 and Pay in 8, the first two solutions in its broader Pay in Z platform.
Zip’s development strategy
Shortly before this announcement, Zip joined forces with Google to offer the benefits of Google Wallet to iOS and to roll out a secure and optimised experience across both iOS and Android. Through this, Zip Pay and Zip Plus Australian customers were set to be able to access their Zip Visa Card across the entire Google ecosystem, including Chrome Autofill, Google Pay Online, and Google services. This process was expected to simplify how users spend anywhere Visa was accepted, globally and in-store.
Furthermore, Zip also integrated with Xero Invoicing through Stripe for optimal and secure payments, as well as improved cash flow. The integration sought to enable businesses and companies utilising Xero and Stripe to provide their customers with the flexibility to divide invoice payments by leveraging Zip’s suite of payment options. Additionally, the process was set to take place while still receiving the full payment amount upfront, without facing any fees.