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BNPL is taking market share away from credit cards or unsecured loans. It's not money that's materializing in an additive fashion. So when somebody's looking at the possibility of going for a BaaS market share, for me, the two questions that they need to answer for themselves is one, who am I cannibalizing? Is it me or is it someone else?

And often, though they may be newer to traditional credit products, they're not new to some of these alternative credit products, things like point-of-sale loans like buy now, pay later. And what we see through our alternative data sources at TransUnion again is that this cohort of the population is using that credit responsibly.