▁one ▁stating ▁that ▁it ▁is ▁putting ▁vulner able ▁young ▁women ▁into ▁v icious ▁cycles ▁of ▁deb t ▁that ▁follow ▁them ▁long ▁after ▁they ▁stop ▁sp ending . ▁ ▁Additionally , ▁market ▁comment ators ▁suggest ▁whilst ▁buy ▁now ▁pay ▁later ▁payment ▁options ▁( such ▁as ▁After pay ▁and ▁its ▁compet itors ) ▁are ▁showing ▁significant ▁ups ide , ▁ ▁they ▁may ▁be ▁unable ▁to ▁sust ain ▁such ▁growth ▁they ▁continue ▁to ▁show ▁they ▁are ▁able ▁to ▁generate ▁larger ▁basket ▁sizes ▁( i . e ., ▁extra ▁sales ▁that ▁consum ers ▁would ▁not ▁otherwise ▁have ▁made ). ▁ ▁A ▁report ▁from ▁Australian ▁Sec ur ities ▁and ▁In vest ments ▁Commission ▁( AS IC ) ▁revealed ▁that ▁After pay ▁earned ▁ 2 4 . 4 % ▁of ▁its ▁income ▁from ▁late ▁fe es ▁— ▁and ▁ 7 5 . 6 % ▁from ▁merchant ▁fe es . ▁Crit ics ▁have ▁argued ▁that ▁the ▁service ▁may ▁cause ▁financial ▁stress ▁and ▁the ▁accum ulation ▁of ▁deb t . ▁Despite ▁this , ▁ 9 5 % ▁of ▁pay ments ▁have ▁not ▁received ▁a ▁late ▁fee . ▁Following ▁this , ▁in ▁April ▁ 2 0 1 9 , ▁legisl ation ▁was ▁passed ▁to ▁provide ▁AS IC ▁with ▁" Product ▁Inter vention ▁Pow ers " ▁( PI P ). ▁These ▁powers ▁provide ▁AS IC ▁the ▁authority ▁to ▁interven e ▁where ▁it ▁ident ifies ▁a ▁risk ▁of ▁significant ▁det r iment ▁to ▁ret ail ▁consum ers ▁( including ▁those ▁using ▁B N PL ▁services ▁like ▁After pay ). ▁The ▁company ▁supported ▁the ▁introduction