Watch This Space, page-5440

Maybe someone can help me out here.

I had been using BNPL for years in Hong Kong before it ever became a thing. HSBC in partnership with a number of retailers allowed 6, 12 and 24 month instalments at absolutely no cost to the consumer. I can't quite remember what authorisations were taken on the card but I seem to remember not running into any credit limits.

When I invested in SPT I did so based on my experience of the HSBC instalment plan and thought it was far superior to something like Afterpay. I dld not understand why the Afterpay SP was so high because as a BNPL scheme it did not appear to provide much of an advantage given the best you could do is three credit card cycles. I cannot deny that Afterpay did what it did and all my misunderstanding of it does not change the fact that people did well out of it.

My question to the group is why?

Why did Afterpay do so well when it was IMO an inferior product to something like SPT. Was it better or was the marketing of the product that good or was the low end small payment market a better target.

Cheers
BW