Back to Basics, page-17

"I disagree with your assumptions on SmartFunding BNPL as information so far seems to suggest that its modus operandi is possibly changing in that as well as high amount corporate lending with crowdfunding there seems to be a suggestion that it might now embrace lending into consumer retail lending with merchants throughout SE Asia."

May I suggest that you sign up as an investor to SmartFunding - it may provide you with a view as to how it operates.

I am sorry but I will have to debate your comments - with facts.

You are referring to the fluff piece that was not market sensitive?
Signing up for a partnership does not mean that it is changing its business model. Yes, it gives an opportunity for change, however, this is not something to get excited about.

THE BNPL industry in this region is full of big players.
There are those ASX listed that have more cash than FFG that has announced their intent to grow their current markets in this space.

Then there is Klarna, which has recently raised $1 Billion for growth worldwide and is currently at a $31 Billion valuation - oh and has backers such as GIC (Singapore Sovereign Wealth Fund) and Commonwealth Bank to name a few of its investors.

Paypal - if you do not know this - Paypal are spinning up their own version of BNPL.
Based on investor reports, Paypal for Q4 in 2020 had 377 million active accounts with 4.4 Billion payment transactions that equated to $277 Billion with an average payment transaction of $40.9 per active account.
PayPal in APAC has over 10 million active accounts.
In Singapore, it is reported that Paypal has over 500,000 active users.
In Indonesia, Paypal has a partnership with popular GoPay to access a further 25 million merchants.