Afterpay stipulates merchants can't pass on the fee. In Australia regulators are looking at it because they decided previously that other payment methods (eg credit and debit cards) can't prevent merchants passing the cost on in a surcharge.
Afterpay is saying it's "not a payment system". They also claim for other regulations that they're not a credit lender. Makes you wonder what the hell are they?
APT Price at posting:
$74.37 Sentiment: Sell Disclosure: Not Held