Sebastian Siemiatkowski

We took it away.

We took it away.

We even didn't have late fees in the UK for a period of time at all.

We even didn't have late fees in the UK for a period of time at all.

But it turned out that that wasn't great either because then people to some degree were overextending themselves.

But it turned out that that wasn't great either because then people to some degree were overextending themselves.

So it's good to have a little bit of fee, some kind of consequence of not paying on time.

So it's good to have a little bit of fee, some kind of consequence of not paying on time.

We got that back, but you have to be mindful of not making too much money on it.

We got that back, but you have to be mindful of not making too much money on it.

So you just have to find the balance.

So you just have to find the balance.

But over the years, we iterated on a model that we feel like is a better alternative to credit cards.

But over the years, we iterated on a model that we feel like is a better alternative to credit cards.

If 10 years from now, less people have credit cards and more people have debit cards and then use buy now, pay later occasionally, I would argue it's a better society.

If 10 years from now, less people have credit cards and more people have debit cards and then use buy now, pay later occasionally, I would argue it's a better society.

And that's what we've been pushing.

And that's what we've been pushing.

And the consumers now, we see they love that.

And the consumers now, we see they love that.