Buy, Hold or Sell, page-29

PayPal have already stated their fees for BNPL are integrated into whatever the merchant is already paying, so SMEs will be on 2.9%, perhaps a fraction higher, but certainly no where even near 6%. It was a clever tactic by PayPal to have the fees the same as whatever the merchant is currently on - easy integration, no changes or second tier of fees and, arguably most importantly, completely cuts SZL and Quadpay to pieces with their 6% SMEs fees.
To Lee’s credit at least they were honest saying they have no idea how it will pan out for them.