Only 10% of APT customers are highly active. By now around 50% of people on the books would be expected to be inactive. Once growth slows the percentage of inactive customers must increase extremely rapidly (right skewed distribution). CC have fees and minimum spends because customers who don't spend a significant amount are just a liability.
APT has merely rebranded store credit. They haven't changed the basic principles of statistics, economics or finance.
So once markets become saturated and growth rates decline significantly (within 2-3 years) the whole BNPL sector will be shown to be a giant unprofitable ponzi,
APT Price at posting:
$92.16 Sentiment: Sell Disclosure: Not Held
