Global competitors and barriers to entry

First - well done to those who got onto this one early.  Great buying.  I missed it.  I knew what afterpay was, just did not know it was listed.  Not sure how I missed that, but, anyway....

Trying to catch up.  Interested to know:

1. Who is doing this o/s? I'm keen to invest in the space, but  what to know whether anyone else uses APT's simple model of an "add-on" to existing stores operating o/s?  I love the APT model of a simple add on at point of sale.  That's why I've been on PalPal since it listed - it's just such a great, scalable model.  An easy win/win/win for retainer and consumer and afterpay.  A quick internet search throws up mylayby.com and laybyland.com.au - but neither seem to offer the neat simplicity of afterpay.
2. Does APT lay off it's default risk?  My understanding is that APT carries the risk of default by the buyer.  No doubt it's all explained in the accounts and prospectus, but I'm hoping that someone can give a quick answer around how much of that risk APT lays off and at what rate.  
3.What are the barriers to entry? Has APT patented it's system?  I get that some Countries would probably regulate the system as 'consumer credit' making it unattractive for potential providers.  But in situations where it is not regulated - I'm interested to know why major players don't jump in.  If APT has some Global IP protection it would be a huge plus.  If not, it raises a few questions.

Thanks in advance for all informed comment.