Daily Price Movement / General Discussion, page-20545

If you look at the amount of money they have spent on acquiring non exclusive customers it equates to well over $100 per customer.

The actual nett profit per transaction after bad debt interchange fees and funding costs is minimal requiring each customer to transact 100 times just to recover acquisition costs

Then you have Opex of $100 million which also needs to be taken into account

The very demographic of the customer they recruit is by nature disloyal and hablve no particular allegiance to any BNPL.

plug the numbers into a spreadsheet and reduce transaction margins by 3% and you will be horrified at the scale required to reach profitability