My apologies. Let me simplify.
Humm and bundll are lending products. As they write more loans they require more cash. Where's does FXL get the cash to fund this book, fund customer acquisition and fund international expansion while also paying a dividend?
this is a land grab and being short of cash because you pay a dividend is a beginner error which will end in failure.
Mastercard / Dividends / BNPL ^, page-52
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