Great stuff Stefan, I saw the same post from Forbes. Most of us...

Great stuff Stefan, I saw the same post from Forbes. Most of us would know Paypal and how they work. It is such a large corp with deep pocket and already mature relationships with merchants and penetration in various markets.

I always know that there is a risk of a dominant player entering the race, like the Klarna and other big banks with their existing payment network. Another risk is regulation change (or tighter regulation) that may put a dent on BNPL sector.

I think there will be consolidation in the sector, the larger ones will survive, but smaller will get pushed out. I think it is likely we may see top 3-4 players in the market, e.g. PayPal, Klarna, Afterpay and Affirm - plus maybe a mid-sized like Z1P.

Won't look good for opening tomorrow. Future looks a bit more cloudy now, but this risk is not unexpected.