Apple BNPL launched, page-34

Don't disagree too much, but the sad reality is more and more people are now using BNPL's for necessities rather than luxuries (yes that has debt implications). I always hated the industry from a moral standpoint. Didn't stop me buying APT on IPO and holding until $45 - the exuberance amazed me, hence I didn't short APT until $130+. BNPL's are here to stay and there will be little regulatory change whilst we are in recession and people live wage to mouth and are increasingly reliant on them for many goods and services, be it ZIP, Apple or Step-pay.

"no additional costs to merchants". CBA et al (and Apple) will all still be charging merchants basic service fees and the costs/margins will be progressively padded in -nothing is ever for free. Eventually consumers will wake up to the price advantages, but convenience and habit trump saving $1-2 every time with millenials. Talk to any business owner. No one is going to drop Afterpay or ZIP at the best of times, let alone a recession.

Investors need to cast their minds back to fear and gloom of COVID. Many consumers were more worried about losing their BNPL status than credit cards. Bit of a flawed logic, but consumers are what they are - I have more than one friend who will say "but I put it on Afterpay" as if it somehow costs less .