Will mounting competition break the Afterpay (ASX:APT) share price?

The Commonwealth Bank of Australia (ASX: CBA) is the latest player wanting a piece of the buy now, pay later (BNPL) pie.

As BNPL becomes an increasingly crowded space, will this pose a threat to the Afterpay Ltd (ASX: APT) share price? 

CBA’s new BNPL product 

CBA’s BNPL product allows its customers to create a digital Mastercard via the CommBank app, which is accepted anywhere that accepts Mastercard. Customers can use the card for everyday spend for transactions less than $100 and pay in four fortnightly instalments for transactions higher than $100.

The bank aims to roll out its new product in the second half of the year, making…