Business
CBA confident its no-interest credit card, app will fend off Afterpay – The Australian Financial Review
Commonwealth Bank’s results briefing shows it wants to tackle buy now, pay later competition head-on, in contrast to Westpac’s wholesale banking approach.
We have seen demand from certain customer cohorts who are more comfortable paying a fee and having certainty, and are not interested in an interest rate, Mr Comyn said.
Customers want to take more control, they want to see more simplicity, and they also want to have help around their budgeting needs.
CBA also quietly launched AdvancePay late last year, which will allow customers to spend small amounts of income earned but not yet paid. It is another product moving onto the buy now, pay later turf.
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