Thsts actually a very good article but much of it applies to all BNPL as well with the unrecognised dilution from the issue of warrants as Zip did with Amazon Australia.
The BNPL are all buying the business of enterprise clients and is ultimately a loss making agreement.
The takeway from the article is none of them will ever make a profit unless they gouge the customer but customers eventually wake up to this and the whole business model fails.
Talking about broken credit card models and distrust if banks and then charging customers convenience/platform fees equivalent of 100 percent APR on a $50 purchase is a very short lived approach.
Presently this equates to a 7 percent NTM which will either be met with regulation or customer backlash
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