Ben Quinlan of Quinlan & Associates breaks down the big problem for buy-now pay-later fintechs: they don't make money, and never will, without substantive changes to the business model. Ben tells Jame DiBiasio what went wrong and how BNPL firms can find a path to long-term success.

Timecodes:

0:00 - Ben Quinlan, Quinlan & Associates

1:34 - The threat to buy-now pay-later (BNPL)

2:40 - Non-performing loans and funding issues

4:11 - What makes BNPL a hot trend

6:12 - Drivers of growth

7:52 - Issues with balance sheets and merchant acquisition

11:02 - Acquiring and analyzing user data

13:38 - Breaking down why BNPL firms lose money

15:39 - Lots of competition!

16:25 - Can the BNPL model change?

19:11 - M&A in Asia Pacific's BNPL industry

21:03 - Banks and BNPL

22:20 - Regulation

25:40 - From BNPL to virtual banking