The ASX has suffered its largest fall in over four years,as what some described as panic selling took hold amid heightened coronavirus fears.
The two big banks say the Reserve Bank should take action to allow retailers to surcharge customers who pay using buy now,pay later schemes.
Afterpay says it should not be viewed as a payment system,as it also competes with Google and Facebook to generate leads.
The stock,which rocketed 800 per cent in the six weeks following its ASX debut in late January last year,dropped as much as 18 per cent on Friday morning.
New players in the instalment payments sector will not be forced to sign up to standards.
Telstra is the latest Australian company to stump up cash for bushfire relief,with the telecommunications group agreeing to match every dollar donated by staff.
Sezzle shares have surged 40%,clawing back much of the ground lost after a California regulator accused the buy now,pay later outfit of illegal lending.
Despite losing 1.8 per cent in the final day of trade for the year,the ASX has still had its best year in a decade.
The stratospheric valuation of ASX-listed Appen is built on its role as a platform marrying cheap casual labour with the grunt end of the AI industry.
Half of all company tax collected by the ATO in 2017-18 was paid by 11 companies,while more than 700 companies paid 0 per cent tax.
Black Friday sales have pushed buy now,pay later darling Afterpay to a fresh sales record,as monthly transactions cracked the $1b mark for the first time in November.