Buckle up for $2, page-1196

You won't find growth in FXL. They are more geared towards high valued purchases.

One of the reason why APT is successful is because it pays a fixed fee on their warehouse facilities (say 6%) but customers use them like 22x a year in mature markets, and each time they clip 4% fees minimum. That's a huge missmatch. On top of that, credit risk is reduced (almost 1/3 of FXL) due to the 6 week inventory turnover period. That's just the tip of the iceberg why APT is $16bn and will continue to go back as it takes on other geographical areas, and FXL will continue to be a minor in the Australian market, bogged down by a less nimble business model and dividend payments.

All in my opinion. I've made a lot of money in BNPL, I work in credit and my background is in finance/economics so I feel like I have a good understanding of this sector from a number of angles. AIMO, DYOR.