Would this be the reason why the SP stalling? ZIP and APT stated back in Sept 2020 they were not concerned at the time and that there were room for multiple players. PayPal have tried similar BNPL offerings in the past, PayPal Later in 2010 and PayPal Credit in 2016 but withdrew these products shortly after. Though they seem to have gained a bit more traction in the US 3rd time around since offering BNPL in US since Sept 2020.
Key points from the SMH article titled "Global giant PayPal takes on Afterpay with Australian BNPL play" :
-PayPal to offer BNPL in Aus from June (9M Aus customers)
-Allows customers to borrow up to $1,500 (pay in 4 interest-free instalments)
-Merchants will pay for the service through the fees they already pay to PayPal. The company’s standard merchant charge is 2.6 per cent plus 30¢ for domestic transactions.
Would this be the reason why the SP stalling? ZIP and APT stated...
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