thats interesting. I was always wondering what the hustle was, guess that was it- it was outside of the credit system
The hustle is mostly just getting merchants to eat bigger discounts in hope of selling more volume. Instead of eating ~3% interchange on a credit card, merchants eat ~6% subsidizing short-term BNPL loans.
It already shows up when mortgage lenders do their checks, AIUI.
The hustle is mostly just getting merchants to eat bigger discounts in hope of selling more volume. Instead of eating ~3% interchange on a credit card, merchants eat ~6% subsidizing short-term BNPL loans.