this is a good discussion to have. let me begin that ive never said i think zip will fail, plenty of room for a bunch of diverse bnpl players.
as to fee breakdown the closest ive seen re zip is ~61% of zips revenue comes from a combination of late fees, establishment fees, account keeping fees and interest at 19.9%. this does not include quadpay which will be higher (imo).
these fees and the rollover of credit provided by zip products very much looks like a credit card. zip pay is imo their best product and serves as the cheapest option for the average user.
there is plenty to pro/con re customers being happy/unhappy to pay fees. ie why are customers steering away from cc if fees are not a problem (dont get me wrong im on the side cc are incredibly expensive and debt traps for many) zip money looks so close to a CC (digital) that i find little benifit to it. but zip customers can steer towards the best product for them. most CC users didnt care for how much interest they paid on a weekly basis but when giving an annual total they are a little more taken back.
my biggest issues with fees is quad, and calling it a convenience fee at $1 per installment makes it sound less harmful to the wallet. (but these $4 fees will add up) i believe its expensive and apt were hammered when fees made up 20% of its revenue. imo quads will be much higher and will draw some very unwanted attention eventually. after some time imo stories will printed about how user pay $100's or maybe $1000's in convenience fees a year. again the business may be more viable then i think and be accepted.
also before anyones says why do you hold if i dont like quad (i brought pre quad). and im personally hoping they morph towards something more like zip pay.
anyhow such a conversation like this with you i find very informative and your point of view is something i take in. when i first brought up the quad fees, or the establishment fees and interest zip has many forum members wernt even aware and just claimed i was downramping and lying. thus the conversation just didnt happen.
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