Afterpay 'a potential threat' over time says CBA James Frost...

Afterpay 'a potential threat' over time says CBA

James Frost

Commonwealth Bank CEO Matt Comyn declined to comment on the partnership between the buy now, pay later juggernaut Afterpay and rival big four bank Westpac.

On Monday it was revealed the buy now, pay later sector had almost doubled in two years.

"Afterpay has built up a very strong ... business and we certainly see them as a potential threat over time."

The sector continues to attract controversy, however, over whether instalment payments constitute credit.

“When you open a buy now, pay later account and it saidyou are approved for $1000 that sounds like credit to me … We believe that regulation is inevitable but not imminent,” Comyn says