Ann: Second Quarter Earnings Presentation, page-5

I noted too that within their premium product they are bringing customers to merchants, etc, etc, but they appear to outsource the credit risk to 'partners'. This would surely be the smartest thing that any BNPL business could do and if they can get their marketing right it will not only blow their competitors away but turn the industry upside down......to the extent that it could save otherwise never to be profitable businesses. I would draw an analogy with the insanely popular food delivery businesses. IMO