Most doubtful thing I have ever heard. Acquiring another BNPL? Makes almost no sense at all. Lets take on all the risk of default payments and open the business up to impending regulation in that credit lending space so we can get a few 1000 more merchants who will not take up splitit as they are not the target market. Stupid actually.
Concentrating on their product (which is actually more of a technology layer and a financial management tool than a BNPL) and whitelabeling a piece of technology to all other BNPL is probably what they will do instead.
Why aquire the huge expenses and debts of a traditional BNPL and at the same time limit your market when your technology product can be complimentary in all existing BNPL.
Forget the BNPL space which will consolidate. The space the splitit "technology" works in is not moving as fast as what you think.
SPT Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
