CBA - BNPL Disruptor, page-7

The thing is Afterpay, ZIP and the main players are their own brands - they're not an alternative line of credit to a mainstream credit card provider - consumers have had decades of rorting on the APR's hence why strong bnpl brands arrived. Yes, I agree that there are maybe several one trick ponies running down the stretch - but they won't survive and certainly the big banks won't get close to the uptake especially with the younger segments of the market, so really nothing much to impinge on APT and ZIP at this point. CBA's a lumbering behemoth and they just can't move fast enough to keep pace with the rapidly developing models coming out of this space - otherwise they risk impacting their traditional credit provisions, including their property loan books - and they'll never jeopardise diverting from their main job as a high street bank. In the meantime co's like APT and ZIP will keep chipping chipping away at the various parts of the mainstream lenders' lack of reach and vision - which is, if you think about it, why they came into being in the first place - they're here to stay.