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By Reuters
Buy now, pay later firm Zip to raise fees amid surging inflation
Zip said it was well placed to offset the effects of rising rates through measures “including consumer fee increases, merchant repricing, increased customer repayment velocity”. “We acknowledge that while we are not immune to market volatility, there remains significant opportunity for Zip and buy now, pay later products in a heightened inflationary environment,” it said. Zip’s shares, which are on track for their worst annual performance since debuting in 2009, closed at their lowest since April 2016 in a broadly weaker market, while U.S.-based Sezzle, which Zip plans to buy for $350 million, dropped almost 9%.
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