it's a number of factors at play
part of it has to do with love. customers love it. it's simple, and it helps them meet their lifestyle needs. so if customers love it, they will prioritise their finances to ensure payments are being met.
25% first payment also helps control losses
they also claim 'late fees' as being collected, and this is deducted from net losses
but they are also pretty good in developing their credit models over time. data flywheel effect well and truly in play.
the more users they have, the more data they collect and analyse, the better their credit models will be, which means they can book more customers than before. then the cycle continues .. it becomes a virtuous cycle
it's a number of factors at playpart of it has to do with...
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