Reiterating 10$- Nov 2020, page-82

The comments from Zip management have always been that zip has better performance than its peers in this area
bnpl is displacing credit card users by the millions or at least credit card users are likely opening bnpl accounts trying this alternative then if possible shutting their credit cards down later on. So ... Given a lot of credit cards your min credit amount is 3 K or more, even if that user only makes purchases less than 1 K, these products would be considered direct peers.
i also believe Sezzle has a higher default and arrears rate at the moment than zip.
i believe apt has a better performance than zip in this area
on the flip side, zip is generating more revenue per customer than any bnpl that I have looked at, based on their revenues and customer base