This is typical of the catch up all other BNPL players are having to play with Klarna and APT.
You can class it as a loss leader as a typical interchange fees can be as low as 25 to 30 basis points.
Looks like they are sharing this with Visa so met revenue is likely Les than 15 basis points on the transaction.
They then have to fund the extended credit, payment processing costs and bad debt which could run to 300-500 basis points.
That can produce massive losses on that particular sales channel.
All in the hope they can expand beyond the Millennial demographic which has now reached saturation in the ANZ.
IMO a completely foolish and reckless strategy which could send them into a debt spiral and ultimately bust.
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