Part 7/10:
As the discussion shifted to major players in the fintech space, Moser and Frankel provided insights into Square and PayPal. Square’s latest initiative allows customers of small businesses to make monthly installment payments on purchases ranging from $250 to $10,000, representing the company’s first significant step into consumer lending. While this could enhance consumer accessibility, Frankel voiced concerns regarding potential credit risks similar to those often seen with store credit cards, where default rates tend to be higher.