'Afterpay is facing tough competition in the US, especially from...

'Afterpay is facing tough competition in the US, especially from QuadPay, which was recently bought by Zip. Analysts are closely monitoring US customer numbers'

The above is an excerpt from a recent AFR aftical from October.

The recent drop in SP following what was an axceptional quarterly report is more of a herd leaving/temporary lul/re-enter those looking longer term. Thise chasing the quick dollar are exiting stage left...

Looking at the total number of customers of each Zip and APT vs the current SP of each and your left scratching your head. Zip's total number of customer’s following Quads acquisition very much changed their medium to long term trajectory. Customer numbers will only draw closer over the next year and there on. Marketing and overall push will not given the sector's meteoric rise.

Each entity appeals, APT obviously the mammoth is an attractive bet. As far as a outside the box though, Zip and its US QUAD customer base...given QUAD has an established base, leaves me to believe we have a Stage 2 'as it were' of the whole BNPL space that has yet to play out.

The recent 'Tap' feature was mentioned as a game changer...will this lead to a customer increase in the coming quarters?! Will QUADs exposure over the coming Xmas period and 'Tap' narrow Customer gap to the point where Zip is seen as an alternative investment?

Watch this space. The retrace in Zip in recent trading and APT's crossing of the $100 will only lift make the fine print more pronounced. $5.72.....hmmm