other way around bud, BNPL is making things more competitive. Traditional credit is being slowly choked out while BNPL eats away at its market share.
Its why you see VISA / Suncorp now looking at how to capitalise on the BNPL disruption - all the banks are doing the same albeit a tad late to the party. Look at what Amazon AU recently did, emailing all their customers telling them to pay using Zip (Mastercard/Amex) instead of VISA because they'll now cop a surcharge.
The data provided to the merchants is why BNPL is prospering. Sure they lose a little margin but the increase in sales and market analytics is why you see more and more merchants signing up. Zip is in a good position to grab their fair share of the pie imo.
price target 7.50, page-234
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