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Zip to Wind Down New Zealand Operations

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Zip (ASX:ZIP) said it will undertake an orderly wind down of its New Zealand operations following a strategic review, as the company sharpens its focus on its Australian and US businesses, which continue to deliver strong growth and profitability, according to a Friday filing with the Australian bourse.

The company said it will assist employees, customers, merchants, and partners throughout the transition, while noting that the financial impact on the group is expected to be insignificant, the filing added.

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