Visa and MC have set up identical products as a defence mechanism against the threat of BNPL, also as a way of increasing revenues while offering new product. The average charge for credit card transactions, dependent upon the size of the merchant is between 0.5% and 1.5%. Last year in the US MC began its installments program, automatically enabled merchants, publicising it, and charging 3% to the merchants, who went ballistic, ultimately forcing MC to retreat and change Installments to 'opt in' by merchants. Visa and MC also carries the Splitit function over its networks - that is the 'partnership', but ultimately they are competitors to Splitit, with competing, almost identical products. As well as Am Ex and everybody else you care to mention. In the last 10 plus years, while capital has been cheap, the emphasis has been on buying stuff and paying for it later, just because you can. That is likely to change, although a lot of people will be caught behind the curve through necessity.
SPT Price at posting:
7.5¢ Sentiment: None Disclosure: Not Held
