Is Afterpay credit and does it matter?

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Via the AFR:

Mr Comyn told a parliamentary committee the pay-in-four instalment model pioneered by Afterpay would trigger more competition, after US giant PayPal entered the market last week, sinking share prices across the high-flying ASX sector.

…”I see the potential for [instalment] offerings to be competed away, or to evolve,” he said.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.