I had a friend who worked there and we discussed potential solutions to this after the 2019 spike (I worked at a BNPL fintech and now at an insuretech). It was really a lot for a startup to do and no third parties would take on a program at that scale.

Technically this company was trying to fulfill the market need driven by the deregulation, and trying to provide lower cost solutions to the consumer, but they needed to build something to help with these spikes. They could have eventually I think, but just a tough business frankly!