ASIC regulation

What is the concern exactly? that ASIC will ask Afterpay to check if customer can afford the 6 week small loan by having to complete an assessment of the customers income, expenses, assets & liabilities? I doubt it?
I can sign up to 12 month and 2 year plans for foxtel, mobile phone, netflix, gym membership, rent a house, enrol my kids in private school etc etc all wIthout them checkIng If I can afford It!

Afterpay don't charge interest and offer tiny loans to start with. They cut people from further spending if they miss a payment. Their arrears are approximately 0.5%.

ASIC 'regulated' payday lenders a few years ago. maximum per annum rate was introduced by ASIC.....48% p. a. rIght?

Some people think ASIC may insist Afterpay do a credit check? I doubt it? A credit check doesn't help to check repayment ability and doesn't protect the client. Afterpay protect theIr customers from themselves by starting out with tiny amounts, 25% upftont repayment and monitoring closely. late payment fee of just $7 to provIde a detterent whIch is perfectly reasonable?

and they DO NOT charge interest!

Is there anything else? Maybe ASIC wIll cap the purchase amount? eg anythIng above $5k becomes 'regulated credIt' even when its less than the 62 day threshold and no Interest being charged?