Buy now pay later lender pulls out of NZ market

Author: NZ Herald ,
Publish Date: Fri, 17 Jul 2026, 2:48pm

Buy now pay later provider Zip has announced it is pulling out of the New Zealand market.

The Australian company said in an email to its New Zealand customers that no new purchases would be able to be made from August 17.

“After careful consideration, we have made the difficult decision to withdraw from the New Zealand market and we will be ceasing to provide the Zip Pay in 4 product,” the email said.

However, this does not affect any existing payment dates or amounts owed to Zip.

“You are still required to make all payments under any payment schedules on the payment dates specified.

“Details of your payment schedules are set out in your account dashboard.

“Once you have paid everything due to us we may close your Zip Pay in 4 Account.”

Listed on the Australian Securities Exchange (ASX), Zip said in a market announcement that it made the decision to exit the New Zealand market following a “strategic review of its business portfolio”.

“The decision reflects Zip’s strategic focus on investing in its Australian and US businesses, which continue to demonstrate strong momentum and profitable growth,” according to an ASX announcement.

“Zip recognises the contribution of its New Zealand team and is committed to supporting its employees, customers, merchants and business partners through the transition.

“The financial impact of the wind down is expected to be immaterial to the Zip Group.”