I like APT and had own this before.But I think the entire AUS...

I like APT and had own this before.
But I think the entire AUS BNPL section is not prepared for a black swan event like this.

During a economic downturn, many consumers will struggle to pay their mortgage and their living.
Thus, BNPL sector will likely encounter few major issues:
1. Consumers unlikely to spend much > less profit
2. BNPL customers unable to pay back the debt > bad debt
3. Less profit and more bad debt causes credit issue to BNPL company.
4. Credit issue forces BNPL to raise capital but would be very hard in a economic downturn.

Only the most fit BNPL would be able to survive. Companies must stop the capital bleed (cut all unnecessary cost) and wait for a economic turnaround.

Good luck to all holders.