Are credit cards really broken?, page-11

No they are not broken and will be around for many years long after BNPL is a distant memory.

As all of the BNPL have proven it's a broken business model, ( not that it was ever viable )

It has become apparent that it has merely been a wealth transfer vehicle from bag holders to company founders and performance shares holders.

The oft heard cry of it must be viable otherwise why would banks be rolling out their own version to which the answer is simple.

Although not a viable business,which would never have got off the ground if not for lockdowns and fiscal stimulus, it represents a nuisance to credit card issuers.

They are well aware that BNPL providers are on their financial knees , they simply want to accelerate the process then once they are bust they will slowly withdraw their own product offerings.