Yes, that is exactly what I'm saying. Like I said, it is only a...

Yes, that is exactly what I'm saying. Like I said, it is only a theory that I have. If Paypal were to scale a pay later business, I think it would take 10x the costs you have mentioned above, perhaps multiples more, involve more credit risk (a move away from their core business) - product development would be years behind competition - and there are plenty of others in the market already, as many like to point out. What I'm suggesting is if Afterpay become a trusted payments company and continues to scale in the US, Paypal may take notice, particularly if Afterpay's margin becomes appealing (which is a complete unknown). If the 'trust' that Paypal has as a payment option is matched by Aftterpay & user's decide they can Afterpay everything or Afterpay Now, rather than Paypal I certainly see a possibility?

It is only my theory - but on a smaller scale, I see it as similar to Facebook acquiring Instagram once it became a threat. Of course, the counter is that Instagram copied Snapchat's popular features once it became a threat & forced Snapchat to develop alternative features.