Zero need for a payment service like BNPL??? How on earth do you...

Zero need for a payment service like BNPL??? How on earth do you explain the rapid growth they have been able to acheive? You try and buy something online for the first time with no credit card. Apparently 20% of retail transactions are BNPL (referencing today's report into regulating BNPL). Most of that 20% will probably be millenials who will continue to transact for decades to come (with more and more generations to come through).

If anthing, BNPL has shown that there is zero need for a payment service like a credit card. I suppose you have a credit card though don't you Keith? I think you might be making the mistake of thinking BNPL has no use simply because you already have an inferior substitute available. Like saying there is no need for CDs as you had a tape collection.

Regardless of where shareprices are at, it is ridiculous to suggest that BNPL hasn't been a huge success. The industry will continue to grab market share. We're talking 10 years + though for the story to play out. Not where it will be 6 months from now.