BREAKING: ASIC report into BNPL has not called for any additional regulation.Missed payment fee revenue for all six buy now, pay later providers in the review was more than $43m, up 38% on a year earlier.Openpay, Oxipay and then Afterpay had the highest percentage of transactions incurring missed payment fees.the number of buy now pay later transactions increased from 16.8m in the 2017-18 financial year to 32 million in the financial year 2018-19, an increase of 90%.Total revenue from buy now pay later arrangements across the six providers grew by 50%, from $266m in 2018 to $398m in 2019.ASIC said it expects players "to work collectively to develop a code that provides good consumer outcomes across the diverse range of business models operating in the industry".
BREAKING: ASIC report into BNPL has not called for any...
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