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Centrally, under Zip's proposed QuadPay acquisition agreement, the company plans to acquire 86% of QuadPay's shares, via a scrip consideration. For reference, prior to today's acquisition announcement, Zip already had a 14% interest in QuadPay.

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In June Zip Co announced it was acquiring US-based Buy Now, Pay Later giant QuadPay. This acquisition, which is set to be completed on 31 August 2020, will see Zip Co become a global player in five different markets and with almost four million customers.

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