"Can we please not call BNPL an "invention"? BNPL Is marketing - that's all it is"
Innovation is not Invention. Innovation is about new ideas and therefore can be about tweaking a business model and clever marketing.
"Get f*kn real it's exactly a credit card"
Why are you so angry? BNPL is similar but different to credit cards, and the public liked it. Therefore BNPL is a very good example of Australian innovation carving out a new business model. They created a viable and lucrative business that claws back some of the profitability of the MC/Visa network.
Its a good example of creating value. What I find interesting is that it was created by startups, and not the big 4. There is an argument that can be made that the Australian four pillar system created a well capitalised and reliable financial system (that withstood the GFC quite well), but lacks any competitive pressure to innovate.
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