Why did the Afterpay (ASX:APT) share price and 2 other BNPLs fall today? // The Motley Fool Australia

It hasn’t been a great day for companies in the buy now, pay later (BNPL) sector. The Afterpay Ltd (ASX: APT) share price fell into the red, as did shares in fellow payment providers Zip Co Ltd (ASX: Z1P) and EML Payments Ltd (ASX: EML).

Comparatively, the S&P/ASX 200 Index (ASX: XJO) closed 0.6% up. So why did the share prices of these 3 BNPL companies drop today?

ASIC continues BNPL probe

The BNPL industry is on the Australian Securities and Investments Commission’s (ASIC) radar.

According to the Australian Financial Review, ASIC is concerned that consumers are not clear on how the BNPL businesses operate. 

ASIC believes that…