Philip Belamant, the founder of Net 1 UEPS Technologies, recently said that 43% of consumers believe that BNPL companies make money from the interest they collect. This is a worrying statistic, showing that many people don’t understand how these companies operate. In this blog post, we will discuss Philip Belamant’s comments and what they mean for the future of BNPL companies.
Philip Belamant is the founder of Net One UEPS Technologies, which provides BNPL services. In a recent interview, he said that 43% of consumers believe that BNPL companies make money from the interest they collect. This statistic is worrying, suggesting that many people don’t understand how BNPL companies operate.
BNPL companies don’t make any money from the interest they collect. Instead, they use this money to cover the cost of providing credit to their customers. By using this model, BNPL companies can provide low-cost credit to consumers who might not be able to afford it otherwise.
Philip Belamant’s comments are an important reminder that BNPL companies provide consumers with valuable service. In a world where credit is becoming increasingly expensive, BNPL companies are helping to keep costs down for millions of people. We should be grateful for their work and hope that they continue to provide this service in the future.
He believes that 43% of the population believes that a BNPL company makes its money from the interest it collects on loans and advances, which is a worryingly high statistic. This confusion over how these companies operate could have far-reaching consequences for the industry, as people may be less likely to use BNPL services.
However, Philip Belamant also said that he believes that BNPL companies offer a valuable service to consumers, and we should be grateful for the work they do. In a world where credit is becoming increasingly expensive, BNPL companies are helping to keep costs down for millions of people.