Ann: OPY signs US partnership with American Express, page-29

You are so right.
They run a loss making business model.
Surprised the market sees value in it.
We've already moved closer to fair value (80% wiped off an inflated SP). Won't be long until single digit cents occurs. Just give it a few more big CRs and this company nears my target. All this could happen in the natural course of its business.

There are profitable business models (e.g. PME) and there are loss making business models (e.g. BNPL). Choose your sectors carefully IMHO.