@william23 wrote:"On the backend, Blispay partners with a Utah-based bank called First Electronic Bank. When the original purchase goes through, First Electronic Bank pays Visa, which pays the merchant the next day, with both entities taking a small transaction fee.
A few days later, Blispay buys back the loan and bills the customer directly, receiving 100 percent of the purchase price, which is the way they generate revenue. Beyond that, they also receive most of the interest for users who either can’t or don’t wish to pay back the loan in the first six months."
Very interesting...
Still doesn't explain their business model other than praying people carry interest 
..
@CreditCuriousity wrote:
@william23 wrote:"On the backend, Blispay partners with a Utah-based bank called First Electronic Bank. When the original purchase goes through, First Electronic Bank pays Visa, which pays the merchant the next day, with both entities taking a small transaction fee.
A few days later, Blispay buys back the loan and bills the customer directly, receiving 100 percent of the purchase price, which is the way they generate revenue. Beyond that, they also receive most of the interest for users who either can’t or don’t wish to pay back the loan in the first six months."
Very interesting...
Still doesn't explain their business model other than praying people carry interest
My guess is there looking to take some market share from other folks, incuding creditors. Example, Best Buy is store and card(creditor specific). BB will give you 6 mos no interest, but, you have to make payments. You're going to have and spend $299.00 or more to get that. You can't go back to the store a day or week later and do it again. You have to wait until the current promo you're in has been satisfied.
If they get even 10% of the BB market share, a percent or two from target, wal-mart etc., and mostly from retailers and others that have no promos' (furniture would be a big one) then they'll do just fine in the long run. Plus, anything under $199.00 will pick up some good revenue in interest. Let's face it, even 19.9 is much better than some of the other banks are hitting people for. Most department store cards are 26% or higher. This is still a much better deal for those people.
@theoldnocreditmaster wrote:
@CreditCuriousity wrote:
@william23 wrote:"On the backend, Blispay partners with a Utah-based bank called First Electronic Bank. When the original purchase goes through, First Electronic Bank pays Visa, which pays the merchant the next day, with both entities taking a small transaction fee.
A few days later, Blispay buys back the loan and bills the customer directly, receiving 100 percent of the purchase price, which is the way they generate revenue. Beyond that, they also receive most of the interest for users who either can’t or don’t wish to pay back the loan in the first six months."
Very interesting...
Still doesn't explain their business model other than praying people carry interest
My guess is there looking to take some market share from other folks, incuding creditors. Example, Best Buy is store and card(creditor specific). BB will give you 6 mos no interest, but, you have to make payments. You're going to have and spend $299.00 or more to get that. You can't go back to the store a day or week later and do it again. You have to wait until the current promo you're in has been satisfied.
If they get even 10% of the BB market share, a percent or two from target, wal-mart etc., and mostly from retailers and others that have no promos' (furniture would be a big one) then they'll do just fine in the long run. Plus, anything under $199.00 will pick up some good revenue in interest. Let's face it, even 19.9 is much better than some of the other banks are hitting people for. Most department store cards are 26% or higher. This is still a much better deal for those people.
I agree with what you are saying.. Although they are depending upon people carrying a balance whether it is used on smaller or bigger purchases being one that dont or do qualify for 6 month financing. If not enough people pay interest it won't make it, if they do they will make it. 2% CB is losing money off the bat, but alot of people carry balances aka pay interest then that 2% can be offset pretty quickly. See how it plays out. I hope it works, but not much initiai seed money still IMO and see where it lies in 6 or 9 months and then possibly apply as this is better then the DC card.