Worst case is that the ASIC out rite outlaws buy now, pay later services.
I dont think this will happen but their is an argument to be made that these services cost the economy (be it predominantly from the merchant). Traditionally the ASIC does not look kindly on any fees associated with purchasing of goods.
A more likely scenario is that buy now, pay later services get lumped in with payday loans. If an individuals capacity needs to be assessed ie providing 3 months of payslips etc. the appeal of afterpay would disappear and a traditional credit card would be more attractive to the consumer.
APT Price at posting:
$5.69 Sentiment: Buy Disclosure: Held