Last year Afterpay reported their income as 75% merchant fees and 25% late payments. On very few, percentage-wise, late payments.

So that's $65m in late fees. It would seem that is a fair incentive to not do due diligence on their buying customers, and certainly doesn't fill me with confidence that their business model is sustainable

---

@davewil1964 wrote:

Last year Afterpay reported their income as 75% merchant fees and 25% late payments. On very few, percentage-wise, late payments.

 

So that's $65m in late fees. It would seem that is a fair incentive to not do due diligence on their buying customers, and certainly doesn't fill me with confidence that their business model is sustainable

---

Yes and 2019 AfterPay accounts show late payments as 18.7% or 0.9% of underlying sales.  In comparison Credit Cards having a total balance of $45.5 Billion with Accuring Interest of $29.5 Billion.  I guess not much confidence in the credit Card business model as sustainable either.