ZIP

Zip Co Ltd

A maker of "buy now, pay later" payment services, Zip lets shoppers split purchases into interest-free installments through its Zip Pay and Zip Money products at thousands of merchants across Australia, New Zealand, and the United States. It was founded in Sydney in 2013 by Larry Diamond and Peter Gray, who reportedly dreamed up the idea over a conversation at a local pub. The name "Zip" was chosen to suggest speed and fast movement, though the company has long fought a trademark battle over the name with an Australian lender that had claimed it years earlier.