I did post that the existing incumbents would not stand idly by...

I did post that the existing incumbents would not stand idly by and let these BNPL disrupt their long established and profitable businesses.

They will simply play the long game and squeeze the BNPL players on margins.

Their nett margins are already paper thin and a 1%,reduction makes the business unviable.

APT is priced on the basis they will replicate the ANZ business on other territories.

Competition, regulation, will lead to slower onboarding and GMV reduced margins and greater loss rates.

UK is a disaster considering they already had a leg up with Clearpay existing business.