Ann: Business Developments, page-14

I don't know about you but I'd hate to be shareholder of a company who makes material profits from late fees. Afterpay's business model is an honest model that makes money by charging spreads to the retailers. Retailers get more volume of sales, consumers get a consumption-smoothing payment tool and Afterpay makes a marginal profit. It's a win-win-win. The late fees are there to give consumers an incentive to pay on time, not to make material profits of them. This win-win-win model is the biggest reason why I'm invested in this company.