Daily Price Movement / General Discussion, page-36129

Nah I prefer to compare in 3 years from now. It took you 3 years to fk up your Zip investment. So we'll do it then.

Alpha, let go of NPAT ok? Let it go. That is not where the conversation is or has been. Understand? Unless of course you were actually talking about areas BNPL doesn't compete in with banks. Like mortgages. In that case, wtf is wrong with you and why even bother with such a bizarre discussion. May as well compare the sector to Apple.

You, unless I'm mistaken, were discussing the impact BNPL had on CC revenue streams, and you said "banks have hardly lost out to BNPL".

CBA's revenue from CC's was roughly equal to Afterpay's total revenue this FY. CBA's was on a drastic decline as well as only a couple years back it was well over $1B revenue for them. No doubt the decline occurred because of BNPL. As that article I posted suggested.

It's not a major concern for them though because it's a small fraction of their operating income. Less than 3% I think.

The priority of CC's with respect to banks was never in the discussion though. It was the impact BNPL had on the banks CC revenue. Which has been massive considering for about a decade before BNPL became popular, CC revenue was on the increase every single year.