The BNPL model is interesting because on the face of it, it...

The BNPL model is interesting because on the face of it, it looks like a bad debt time bomb. With APT, no credit checks are required and consumers can be borrowing money in minutes. However, they argue that they quickly 'weed out" non-payers and the quality of the loan books are actually quite good. From that respect it may be bad for debt collectors! If BNPL disrupts a significant share of the credit card market, that could lead to structurally lower bad debts to collect on in society, if the BNPL companies are to be believed. Although, you could argue that the people paying back all their BNPL loans would also pay back thier credit card loans, so maybe the same percentage of non-payers will still exist. Obviously there will always be personal loans, what is left of credit cards and all other forms of credit, though it is worth thinking about.

In any event, yes you're right, looks like there will be other avenues for CCP to move into, even just expanding the personal loan business would be an obvious one if bad debts in the very long term were less available.