Thanks for replying with a constructive post. Not many SPT...

Thanks for replying with a constructive post. Not many SPT critics take the time to explain why they think SPT is a sell.

"How would that help anyone? Businesses with a credit card - that just becomes complicated and there is not really an extra interest free period above the credit card period."

My thinking is that if you can't pay the entire purchase off before the interest free period ends (it's what, only 55 days normally?) you can break it down into instalments that you can pay down in full before the interest free period ends. It's an interest cost saving tool basically.

"The whole credit card reservation is the fatal flaw of the product. It is short-termist. In the presentation they claim their goal is to be the #1 payment solution. #1 but still piggybacking on competitors, where the competitor can shut them down whenever they want?"

Yes, it's a concern to me that Visa/MC can kick them off. But if SPT are not violating the rules, and they work within the rules, I'm not sure Visa/MC will kick them off just because they're competition. I mean, Afterpay piggybacks off Visa/MC (you need to put in a credit card or debit card on signup) and I can't see them getting kicked off the card networks, even though I'm sure Visa/MC sees them as competition.

"What happens if a business is bankrupt and the reservation is forced off the card? Or the card is cancelled? Good luck with that."

If the business goes bankrupt or the card is cancelled, wouldn't SPT be able to just charge the outstanding amount in full by turning the existing authorisation hold into a charge? So how that might work this: they'd find out the card is invalid (either due to bankruptcy or card cancelled) when they try to charge the next instalment and gets declined. So they just convert the existing hold into a full charge. SPT then gets paid by the bank, and the bank has to chase the business for the outstanding credit card balance.

"This isn't moving because of a good product, it is moving due to FOMO. There is no value to this product. It will go to 0 eventually. "
I don't disagree that FOMO was at play. But I still see no solid argument to suggest that SPT's service can't add value to customers of a merchant (by saving them interest expense) or the merchant itself (by being able to present a more attractive payment service to its customers). But I'm always open to ideas.