BNPL never was a viable stand alone business, but the historically low interest rates and free Covid money/lockdowns gave it a significant tail wind.
Any student of economics would know that the above tailwinds would result in inflation/hyperinflation and BNPL companies have no long term future.
The rates they have to charge now simply to keep the lights on are extortionate and Credit Cards now offer far greater value and flexibility.
To be a successful disrupter you need to offer greater value than the incumbents and they simply dont thats why customers are reverting to credit cards and leaving BNPL in droves.
$2 PARTY, page-7089
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