Apple has access to only 23% of total market share

Of course Apple is dominant throughout the world in many aspects.

However, as long as it's BNPL stays only on Apple pay, then it's maximum exposure to the retail market throughout the world is directly proportional to the percentage of people that use Apple products.

As others have pointed out, Android is at 72-73% of global users and iOS is at 27%.

Current BNPL companies all have access to 100% of this market ^ and Apple will not.

Apple BNPL expansion is essentially capped at a much lower level than all of the rest.

It also faces the same competition amongst it's 23% market share that all of the others do and has the same challenge of promotion of it's product that PayPal has had.

Although Apple is an undeniable threat to the current BNPL competitors because of it's bottomless pockets. It still is greatly limited by it's platform exclusivity and therefore poses a great challenge for itself to maintain relevance at the endgame.