The APT Downramping genius, page-13

Afterpay has very low interest bearing debt and is well capitalized. It would require a very large increase in interest rates to materially affect potential profitability imo (valuation is another story). They also benefit from turning over the receivables book extremely quickly.

I don't know the commercial arrangements of Afterpay money - but there may be the potential to achieve a NIM on deposits made that could actually benefit from higher rates also.

I would also think that higher interest rates could improve both demand for afterpay and their competitive position vs some competitors that may be less able to cope with increased rates.

Definitely not saying higher interest rates are good for APT share price - but quite possibly not as bad for the actual business as current commentary suggests.