I'm not too stressed about the inquiry (although the questions...

I'm not too stressed about the inquiry (although the questions from some of the senators, which clearly indicate they have no idea about Afterpay or the sector - and that they have clearly not done any research prior to the formal meeting is a concern... might say more about our politicians though).

Afterpay are a victim of their own success. They are the clear leader in the industry, the brand name and flag bearer for the industry. There are some dodgy operators in the industry - like any. In many ways the inquiry (or more accurately the reporting of it) is painting Afterpay as a negative, but it could be a major positive as the operators who are not doing the best by the customers may face further regulation (Afterpay may also face further regulation - but I don't doubt that at least some of that compliance they are already doing of their own accord).

The big thing that stood out for me was that Afterpay do use debt collectors to assist with collecting funds - but don't sell the debt to them and no permanent record is made on the file of the borrower for a default. Now that has its issues - but also pretty clearly shows that Afterpay don't actually view themselves primarily as a credit provider per se - more of a facilitator.