There’s lots of reasons:- their product is 3 months old and...

There’s lots of reasons:
- their product is 3 months old and would not be able to handle the transaction volume that would come - whether it’s customer support, system stability, risk processes etc
- unless they have a decent sized funding facility in place they wouldn’t have the capital to process that amount of TTV yet.
- an enterprise retailer would not take on the risk of integrating with a product that’s only been live 3 months.
- at this early stage they don’t have enough data to prove their product increase conversion and basket size - I mean I’m sure there’s some positive early signs, but again only 3 months or so.
- enterprise retailers were probably dealing with their businesses falling apart during COVID and so not really looking at these types of developments (SZL CEO made comments like this last year)

None of the major BNPLs sign up enterprise retailers until they get to a much larger size, so I assume that will come in time.