[thwayunion]

BNPL doesn't make much sense if you have access to typical quality credit lines. The x% cash back on groceries, plus a month of interest on deferred payment, is probably a better deal than the extra duration on the credit line you might get from BBPL.

The major difference between some BNPL apps and credit cards is that the apps don't require a credit check. So, y'know, there's a certain segment of the market they are targeting.

I think the ethics are fairly mixed -- access to capital is important and capital is expensive to some people for a really good reason. Of course there are fairness issues and predatory lenders, but there's a balance between the two concerns.

But the risk modeling for CCs and BNPL are quite different. I expect there to be a BNPL blow-up at some point.

[teeray]

> The major difference between some BNPL apps and credit cards is that the apps don't require a credit check.

But why would they extend a one-off unsecured line of credit without a check of creditworthiness? It’s not like they can repo the groceries if you don’t pay.