Yeah BNPL would have hurt RR on sub 1000 purchases.
CCP has in house collections to leverage and greater scale than Thorn. It also has easy access to capital.
There is every chance CCP will be able to make a go of it given its experience with sub prime customers.
Perhaps in the future if and when BNPL is more regulated and consolidated RR will benefit.
At the moment though, unless is a big ticket household item I just can't see why a consumer would choose RR over BNPL players that dont even do credit checks and charge no interest
CCP Price at posting:
$32.80 Sentiment: None Disclosure: Held
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