Nov 16 (Reuters) - Australian Securities & Investments Commission:
* SAYS PUBLISHED A NEW REPORT ON THE BUY NOW PAY LATER INDUSTRY
* TOTAL AMOUNT OF CREDIT EXTENDED IN BUY NOW PAY LATER INDUSTRY HAS ALMOST DOUBLED IN 12 MONTHS
* SAYS ASIC'S RESEARCH SHOWS THAT ONE IN FIVE CONSUMERS ARE MISSING PAYMENTS
* THERE ARE REGULATORY CHANGES COMING THAT WILL IMPACT BNPL INDUSTRY, WITH DESIGN & DISTRIBUTION OBLIGATIONS COMING INTO EFFECT IN OCT 2021
* DESPITE CONTRACTUAL PROHIBITIONS, STILL POSSIBLE FOR SURCHARGING TO OCCUR & CONSUMERS TO BE CHARGED MORE WHEN USING BNPL ARRANGEMENT
* PERCENT OF TRANSACTIONS INCURRING MISSED PAYMENT FEES GENERALLY DECLINED BETWEEN JAN & JUNE 2020