I think the responses in this thread are fascinating. Its my belief that if you give me a dollar and I have to pay you back,more that the dollar I have paid an implied interest rate. Many avoided that fact by launching into sales and marketing schemes. There were some excellent examples but not really addressing the issue. One point I don't understand is why the industry uses The approach of buying future receivables as opposed to future revenue. That may have its roots in traditional factoring .
The reason I think this is an important item is I believe future regulators with think this way also. All they have to do is look at the material the lenders give investors and banks that discuss their yield is expressed as an interest rate.