Kinghm10

“People typically want credit to cover or fulfil (a) Big expenses (maybe to buy a bike) (b) aspiration (I want that iPhone now!) (c) Emergency. But are these pay later products meeting these credit requirements? No, they are not. BNPL companies give small credit lines to users so what exactly are they up to? Their play is different, here is what they are trying to do - Most of our spends are on small tickets e.g., Food order, medicine, utility bill, or bus ticket booking. So, BNPL companies are targeting these use cases (or merchants who are in those businesses) and trying to replace credit cards and/or other payment instruments.”
― Aditya Kulkarni, Auth n Capture : Introduction to India’s Digital Payments Ecosystem

“In many countries, customers are charged no explicit transaction fees, as payers or payees. The FSP in these cases is recouping costs, and possibly making a profit, from related service fees or revenue sources such as account balances. The most typical, and most lucrative, of these “adjacencies” is lending: account balances (arguably there because of incoming and outgoing payments) are used by the bank to lend money, profitably, to other customers.”
― Carol Coye Benson, Global Payments: And the Fintech Innovations Changing the Industry

“they turn out to be right, they take a cut of the returns—usually 20%.”
― Peter Thiel, Zero to One: Notes on Startups, or How to Build the Future

“There’s a competition for market share and a competition for mind share. If your competitors are telling better stories than you, if they’re playing the game and you’re not, then it doesn’t matter if their product is worse. They will get the attention.”
― Tony Fadell, Build: An Unorthodox Guide to Making Things Worth Making