Similarly, when Mondi and Karmasin Research & Identity surveyed consumers in Austria, the Czech Republic, Germany, Poland, and Romania in late 2020, 57% of respondents across all countries said they were prepared to pay more for packaging that was sufficiently protective, easily reused/recycled, and made of environmentally friendly materials.

The Payflex acquisition also reflects Zip’s growth tactic—expanding via acquisitions instead of direct moves into new markets: In May, Zip acquired United Arab Emirates-based BNPL firm Spotii and Czech Republic-based provider Twisto. The opportunity: Zip’s Payflex acquisition might be a catalyst for further expansion into Africa.