SPT Target Price, page-6

Agree.  I think this is a niche business rather than a world beater.  I think it will carve out its market - however I don't know how large that will be.

I see its most significant advantage to the consumer who wishes to make a large purchase without incurring interest.  Does this encourage them to make the purchase?  Is this part of their process when buying? ie is it going to cost me x + interest.  To some I'm sure but to others not so sure.

Limited benefit to retailers as these large purchases won't continually revolve in the way an Afterpay purchase does as I think these would be split on a 6 - 12 month basis (though up to 36).  And the more payments the more fees incurred by somebody?

The biggest benefit will also be this payment methods biggest inhibitor on its growth - a consumer is using their own already approved credit.  If they are comfortable with their status quo, this won't add the budgeting benefit/consumer loan benefit of other products on the market.

I think their tech is probably their most valuable asset, rather than it future revenue generating ability.

Time will tell.