Alternative credit provider Zip Co Ltd is boosting its revenue line as it accelerates its program to widen acceptance of its payment service among mass market retailers across the country. Zip is the second largest Buy Now, Pay Later (BNPL) provider behind Afterpay with 1.2 million customer accounts and a merchant distribution network of more than 14,000. The company's share price has surged more than 300 per cent in the last year as a swathe of big retailers including Chemist Warehouse, Bunnings and Kmart began accepting its payment method. The share price rally has propelled the company's market worth to beyond $1.1 billion, making Zip roughly double the value of long-established store finance provider, FlexiGroup. Zip's chief strategy officer Tommy Mermelshtayn told Banking Day that the company was poised to announce more deals with merchant chains this month. "A continued focus for us is partnering with more retailers, particularly those larger businesses operating in the enterprise space, because we know our customers want to see Zip available at more checkouts," he said. "We actually have some exciting partner acquisitions that we will be announcing over the coming weeks. "We look forward to sharing more soon." Mermelshtayn believes the decline of credit cards as a payment method in the Australian market is set to continue as BNPL providers bed down their business models. "There is no doubt that people are turning away from the broken credit card model in favour of new digital payment platforms that lend themselves to financial empowerment on the side of the customer," he said. "Zip is a true credit card disruptor. "Unlike credit cards, which rely on high revolving interest balances at the cost of the customer, Zip's business model offers a fairer and responsible digital alternative." Mermelshtayn said that Zip's business model would not be disrupted by the introduction of a new regulatory regime aimed at the BNPL sector to be overseen by ASIC. The reforms require BNPL providers to perform credit checks on new applicants and have hardship policies in place to support customers that encounter problems making repayments. "Zip already checks credit history and identity for every single application and has done since its inception," Mermelshtayn said. "We assess every application to ensure a customer has the sufficient income, savings and capacity to repay their Zip balance. "This is to protect financially vulnerable customers and ensure they aren't at risk of getting into a spiral of debt." Mermelshtayn said that only one in every 100 Zip accounts were