Zip to acquire PartPay for $42m.

Zip, leading Australian player in the digital retail finance and payments industry, to acquire PartPay, global installment technology platform, for $42m. Zip announced that it had finalized an agreement to acquire the entirety of PartPay for a total of $42m with New Zealand, United Kingdom, United States, and South Africa the intended geographies to be commercialized. Zip said the PartPay deal would provide it with a portable platform, a significant installment player in New Zealand including integration with one of the country’s leading retail groups, The Warehouse Group. Furthermore, PartPay is set to secure an early-stage, fully operational UK subsidiary supported by a local team that’s “ready to scale”.