Of course I am looking at this from a shopper point of view,...

Of course I am looking at this from a shopper point of view, that's who uses the product you are selling. Here's a few reasons it's flawed.

Also, all BNPL and SPT are used overwhelmingly by sub-prime consumers which is why Klarna targeted them.. A prime consumer doesn't need to "Split their purchase" into instalments. Read a few AfterPay releases....

1. Why would I as a consumer use a product that puts a HOLD on my credit card for the entire purchase amount? This means I lose purchasing power on my credit card for whatever the entire purchase amount is. I as a consumer could have just used a BNPL and left my credit card available balance alone for other emergencies.
2. I now could potentially pay interest on my credit card which means the purchase wasn't interest free.
3. OR If I can decide to split my purchase into 4 instalments with my credit card provider after the fact.

Again, it was a great idea but it's too late to the party. SPT must completely change strategies and product or they are smoked mate.