Guys, enter SPT a while ago and exited at $1.4 for a small profit. I am now glad I exited! What I feel is that the banks are trying to offer what BNPL companies are doing. Surely, VISA, Master Card ... are more than capable of doing this with the banks. They just find the BNPL companies give them pressure so they will have to lift their game. It's is very natural that the credit providers will just work with the banks to provide BNPL as part of what they are already doing for decades. The only difference is that it is harder to get the service from these traditional credit provider. The increased popularity of debit card also shows that people are now more aware of avoiding the costs of credit. NAB already provides a credit card of fixed cost as their BNPL offer. SPT does not seem to have a future trying to piggy-back on the banks. Would the banks just want to throw it off their backs?
With the huge rally in BNPL, the fittest will survive. The rest will probably go back to wherethey started and probably will fail as the space is gettiing too crowded and the banks will eventually take control of the space too.
SPT Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
