price target 7.50, page-303

to the contrary, banks may argue (whether true or not) that it is nothing more than unregulated borrowing, aimed a specific demographic i.e those prone to frivolous spending, low incomes and often fall into debt traps.

by cutting off this external payment process avenue, and applying for a BNPL process via the banks (who’s privy to the spending habits and balance sheets of their customers), said banks are protecting their own loan books, promoting sensible lending and protecting the interests of their customers for whom they’re loaning funds too.

Dig deeper from the artificial narrative, and it seems quite far from anti competitive behaviours, but more so sensible behaviours