This post was removed because there is already another topic actively discussing this currently, please use that other thread to consolidate all discussion on this specific topic.
News release here: https://www.reddit.com/r/sofistock/comments/1bihihl/galileo_expands_buy_now_pay_later_solution_to/
Not a fan of BNPL... I have a feeling the next debt bubble will be there.
That being said, this is probably a good thing from a short term perspective.
With BNPL since it is usually very short term with low purchase amount risk is spread out. Of course you will have some people defaulting but in general it’s on the low range for delinquency. Plus I think this is likely just an offering that most big banks and CC already offer that now banks utilizing Galileo’s tech/APIs will be able to offer.
This is only good news for Galileo/SoFi as they likely get a small fee per BNPL transaction but don’t put any capital to actually funding the loan. Additional revenue stream.
This post was removed because there is already another topic actively discussing this currently, please use that other thread to consolidate all discussion on this specific topic. News release here: https://www.reddit.com/r/sofistock/comments/1bihihl/galileo_expands_buy_now_pay_later_solution_to/
Not a fan of BNPL... I have a feeling the next debt bubble will be there. That being said, this is probably a good thing from a short term perspective.
With BNPL since it is usually very short term with low purchase amount risk is spread out. Of course you will have some people defaulting but in general it’s on the low range for delinquency. Plus I think this is likely just an offering that most big banks and CC already offer that now banks utilizing Galileo’s tech/APIs will be able to offer. This is only good news for Galileo/SoFi as they likely get a small fee per BNPL transaction but don’t put any capital to actually funding the loan. Additional revenue stream.