It is an opportunity, but it is also one where the banks face a growing set of rivals from the fintech universe, and the trend known as "buy now, pay later" — a direct threat to the status quo in cards — which was behind Square 's $29 billion acquisition of Afterpay, and has led Apple to reportedly consider deals in the "BNPL" space with Afterpay rival Affirm and Goldman Sachs. Jamie Dimon was asked about the fintech threat and banks' "lack of imagination" with trends like BPNL, and said on JP Morgan's second quarter earnings call, "sometimes, we're a day late, a dollar short, but we'll do the right thing. ... we'd like to be a little critical of ourselves. I think when companies aren't, that's part of their failure. ...