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Tekvest

14,969 Posts.

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04/02/23

06:55

Post #: 66066701
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Originally posted by Treba: ↑

(I will elaborate. Its been said before but you were too busy with your negative hat on to process it)

Don't let the maketing fool you like the kids these days.

Just a $1000 bank issued credit card account with a pay-in-4 rules rather than pay in-30 days like standard credit card.
Hence it can be used "anywher visa is accepted"....wow....just like a debit/credit card.

Regulated under lending rules as offered by banks.
Only available to "select" user...i.e....people that a bank can leagally lend $1000 to after a credit check.

They give Visa/Mastercard transactions on their rails so a slice of the pie...thats why they promote it.
Keeps them off ZIP and Afterpay where Visa/Mastercard miss out.

Guess what....Splitit also gives Visa/Mastercard/banks their standard transaction slice of the pie. (Thats why Visa/Mastercard partner with splitit)

Splitit AOV also is over $1000.
Those users limit are under $1000...so different target consumer (millenials who dont want a $1000 credit card and dont understand they are being conned into one at the same time)

Not competition. Future credit card owners who like splitting payments...do you know a company that profits from splits credit card payments?

Expand

Right back at you.You are right to a small extent in relation to those specific products, but I think you may need some more insight into competitors' products and implications for customers

Last edited by Tekvest: 04/02/23

SPT Price at posting: 20.0¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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