The APT Downramping genius, page-151

Being forced to offer payments to uncontracted merchants to match the competion. That tells you APT can't sustain a closed network because it has no moat. If lots of other BNPL firms are letting consumers pay without intergration with merchant, why exactly should a merchant pay 4 or 5% APT ? A merchant simply just pays the existing much lower fees to paypal or bank and doesnt bother. Its ok though, brokers reckon this is all good and it will bring more people into the app and help montisation, as well as drive traffic to the contracted merchants paying high fees.