Honestly even with this reasoning I still don't understand the BNPL business model. If a person can't afford it from the start how are they going to afford it once interest and fees kick in? Seems like the BNPL providers are paying for something full price, potentially charging some fees, but overall receiving less because the debtor defaults.

Obviously I'm missing here because there is no way the BNPL industry would exist without profit, but I just don't get it.