Zip Co completes acquisition of QuadPay

Maria Nikolova

The QuadPay acquisition delivers over US$70 million in monthly transaction volume and over 2 million customers to Zip.

Digital retail finance and payments services provider Zip Co Ltd (ASX:Z1P) today announced the completion of the acquisition of Quadpay.

The deal, which was originally announced in June 2020, delivers over US$70 million in monthly transaction volume and over 2 million customers to Zip, with further growth expected as interest-free instalments transform the way people pay in the US.

Under the terms of the QuadPay acquisition, Zip has:

  • issued 118,776,189 fully paid ordinary shares to the QuadPay stockholders as the ‘Merger Consideration Shares’; and
  • granted 10,480,369 options to subscribe for new fully paid ordinary shares in the company to existing employees and other option holders in QuadPay.

There have been a number of recent achievements of the QuadPay team, including the launch of partnerships with Fiserv and MasterCard Vyze as well as leading retailers such as Fanatics and Mercari.

Completion of the QuadPay acquisition follows shareholder approval which was obtained at the Extraordinary General Meeting of the Company held on August 31, 2020.

Read this next

Institutional FX

Integral also grapple with weak FX volumes in December

Foreign exchange trading volumes dropped in December across Integral’s trading platforms as many traders were away on annual leave and currency markets saw a relatively quiet period. December volumes outpaced those of last year, though turnover is still down month-over-month.

Digital Assets

BitMEX to turn German bank into regulated crypto products powerhouse in Europe

The historic German bank is already a leader in the application of blockchain technology and offers a range of digital assets banking services, including custody, tokenization, efficient payment transactions, and regulatory secure market access.

Industry News

CryptoUK appoints Teana Baker-Taylor as non-executive director

“CryptoUK is moving the needle on policy and regulatory framework development to ultimately build trust and protect all participants, from retail investors to the crypto industry players”

Retail FX

Skilling raises €10m to expand brokerage further after triple-digit growth in 2021

“This fundraising round represents the beginning of the next phase of Skilling’s growth as we further assert ourselves in the fintech industry”

Industry News

oneZero adds two more FX veterans, Indu Maheshwari and Kevin Verardi

The news of Indu and Kevin’s appointments comes a month after Jim Sullivan was announced as the company’s General Counsel, where he will be responsible for the company’s global legal function, based in New York.


Pareto Securities goes live with Broadridge’s OMS for low and high touch agency trading

The solution combines order management, market connectivity and smart order router (SOR) components developed by Itiviti, which was acquired by Broadridge last year in a $2.5 billion deal.

Retail FX

INGOT Brokers taps Acquity and Signal Centre for MT4/5 EAs and news analytics

INGOT Brokers is helping traders cut through the noise and get a clearer picture of the emerging market trends as well as better spot trading opportunities with AI-powered signals.

Digital Assets

Can the Ripple lawsuit be traded with Wrapped XRP to circumvent XRP delisting in US?

wXRP is a derivative product that is pegged to the digital asset that the SEC claims to be a security in what has been dubbed “the cryptocurrency lawsuit of the century”.

Digital Assets

e-CNY wallet downloads swell, but actual usage disappoints

China’s central bank has released a wallet app for payments and money transfers using the digital yuan earlier this month. Although the e-CNY wallet was the most downloaded app in January, but according to a Reuters report the actual use in transactions has been far less impressive.