Q3 report, page-65

I'm just trying to understand is all...

The banks issue me with a credit card....it has a $6000 limit at say 20% interest.

I see a shiny new TV worth $3000 with the option to use SPT to purchase it (as I am a Visa customer using the already established infrastructure)

So of that $6000 limit I now have elected to use SPT to pay that TV off over 12 months. That $3000 won't attract any late fees or interest from the bank (who who holds the can so to speak) for 12 months.

this gives the bank the opportunity to earn only interest/fees off my other $3000 for that amount of time.

SPT earns their cash through the merchants.

So what is the incentive for the banks to allow this?

Is anything there factually incorrect?

Thanks in advance.