A few observations, now that another "fintech" start-up is moving rapidly to grown-up: Afterpay has gone from start-up in 2014 to potential listing this year, fishing in the pond where the major credit card companies might expect to find their best customers - a point emphasised by the reference in the prospectus to PCI DSS compliance. The typical period being financed is 56 days, with the goods expected to be paid for in four fortnightly instalments. The Afterpay prospectus makes the pointed comment that its late payment fees are intended "as an incentive for end-customers to facilitate on-time payments," not to be another source of revenue. The firm has also highlighted thath his  once established, it expects to be dealing in data analysis, and will be spruiking its findings to SME here and in Asia. There are some other risks not mentioned though, the clearest of which is that another company with much the same name is operating across Northern Europe, but with a different business model: providing payment gateways and giving price comparisons on credit card processor for to start-ups. Non-executive director David Hancock continues his career in small niche players, after exiting from CBA - an item overlooked in this CV in the prospectus is his time at listed mortgages and financial services distribution business, FirstFolio, where Hancock was chief executive from June 2012 to October that year, after assisting the Company with a "transitional phase".