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Ketharaman Swaminathan

Ketharaman Swaminathan

  I'm amazed how this article makes gloomy predictions about BNPL's profits without making any reference to MDR, which is the single largest source of revenues for BNPL. At 4-6%, BNPL makes twice what credit card does - 2-3% in unregulated markets. Among VC-backed businesses, BNPL happens to have one of the best unit economics.
Richard Peers

Richard Peers

  excellent a must read
Ketharaman Swaminathan

Ketharaman Swaminathan

  My "Waiting for Godot" feeling about ISO 20022 got stronger than when the following article was published in 2019. Ripple accused of making false claims about Swift error rates
A Finextra Member

A Finextra member

  To claim that MDR is the value in this for the operators is to ignore what comes later..... People borrowing from Payday lenders, loan sharks, Credit cards, etc, anything but free of stress.... If 2 in 5 users have had negative impact on credit score then something is wrong, I have added some more research extracts and links below  if you want to check it out                     52% of people who have used BNPL in the last 12 months have another debt or repayment to manage alongside their BNPL payments. 1 in 5 people that have other debts to repay say that these only started after they first used BNPL. For those already in debt when they started using BNPL, 17% have seen their debt get worse in the last year and 45% attribute this to using BNPL. Buy now pay later has a knock on impact on people’s other debts. 2 in 3 have prioritised paying a BNPL fee or repayment instead of another debt or repayment. The financial impacts of struggling with buy now pay later purchases are long-lasting. 2 in 5 BNPL users have had their credit score impacted by using BNPL.                                                                               https://www.citizensadvice.org.uk/Global/CitizensAdvice/Debt%20and%20Money%20Publications/BNPL%20report%20(FINAL).pdf

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