While Zebit has been described as an ecommerce play with a BNPL solution, Feuille said the company doesn’t compete directly in what’s now a crowded space.
It also operates adjacent to the big ecommerce players such as Amazon, he said.
“Zebit’s consumers can’t buy on Amazon because typically they don’t have a credit card. So from an ecommerce perspective they (Zebit) don’t really compete with Amazon. They compete with bricks and mortar outlets like Walmart where customers can pay in-store.”
And breaking down the numbers in the red-hot BNPL space, Feuille said Zebit’s gross margins (including bad debts) as a percentage of gross merchandise value (GMV) stack up favourably.