Apple Card, page-40

My personal view on this is that most people in the US as well as here in Aus have a Mind Set about payment of all things. Zip and Afterpay have been changing the way people think when it comes to managing spending. IMO there is plenty of room in the BNPL for new players, this will further change peoples thoughts on finances. I think at the moment shareholders should be less concerned about competitors in the BNPL sector, and focus more on continuing to change the way people think about money management. I have no doubt management at Afterpay would be welcoming anything that further changes peoples line of thinking on this. Think about the percentage of people that use BNPL now and how this could and should increase considerably in the next 12 months. Interest free BNPL is just starting to open the eyes of more than just the 20 - 30 year olds. I think as a shareholder in this company, if you believe the Afterpay business model can stand up against new competitors in BNPL, then this company will continue to grow very quickly as it has over the last 12 months.

GLTAH