Late fees are useless if you can't collect the money.
The RBA will most likely look at the issue of merchants not being able to on charge the fees to the consumer. This is a massive risk for Afterpay, because people will elect to use a free credit card, debit card or cash.
Late fees.. we will see how long Afterpay can charge a consumer 25% fees without the Government intervening. $10 late fees on a $40 transaction, criminal.
So you have a model based on no credit checks, during high unemployment times, advertising no interest charges (but bend you over with fees), at risk of being forced to allow on charging of merchant fees (forcing customers to use other free payment methods).
APT Price at posting:
$67.44 Sentiment: Sell Disclosure: Not Held
