Business
CBA looks to draw blood in Afterpay fightback – Sydney Morning Herald
Perhaps the biggest threat provided by CBA’s entry is what it will mean for future regulation of buy-now-pay-later operators.
According to CBAs internal research, between two and four million of its retail customers will potentially use the service once it is rolled out in the middle of the year.
But the real appeal will be for merchants who pay fees averaging 4 per cent to traditional BNPL players.
These are fees that merchants are not allowed to pass onto customers.
CBA will charge nothing above the standard merchant fees that apply to card transactions.
The bigger question that needs to be asked is why it took the bank…
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