In BNPL's defence, the Afterpay takeover was amazingly the biggest in the history of the ASX. It had first mover advantage. I really thought competitors would struggle, but still grow. I'm saying this with the most amount of respect I can muster, but the average consumer is a dullard. He / she is mostly fiscally irresponsible and incompetent. I used to work for a bank, and spoke with customers who often yelled or cried because they were unable to make a house payment, and when I looked at their transaction history on savings and credit card accounts, they were littered with ski trips, alcohol purchases, gambling, you name it! I even had to console some poor lady questioning a purchase made by her husband at XYZ Relaxation Services. She had no idea what that was. I just told her, whatever the place was, he obviously needed to go there to relax LOL. So, after that experience, I really thought BNPL was going to be the ants-pants. But, just like Microsoft, there can be only one! And that one was Afterpay.
