Originally Posted by
sleepy3192
I think credit cards including Visa, Mastercard, and Amex will be impacted by BNPL (Buy now pay later). I honestly think this is good because it's quite messed up charging 20%+ for interest. When you can instead finance it for a much lower rate. This is huge and I think it will change the payments space in the future.
The whole BNPL gold rush seems like a bubble waiting to pop, there is nothing particularly sophisticated or proprietary about the entire concept (as demonstrated by the number of companies that offer it, including AMEX with Plan It), I can't believe Square paid $29 billion to buy AfterPay, they should have just copied the concept like everyone else and used their own brand recognition to sell it to merchants. It's an installment loan for crying out loud, hardly a ground-breaking advancement in financial products!