Ann: EFTPay Partnership, page-123

When a financial institution partners with MasterCard then it means that all transaction processing communications must be done through MasterCard as the network processor. MasterCard does not have a financial business component for credit card underwriting or banking deposit services.


So when you say " it's a matter of time before mastercard offer X" .... It's the Bank that offers whatever it wants, not mastercard or visa

Splitit is taking advantage of the Visa / Mastercard hold process, and using the credit card issuing bank as guarantor.

If banks started offering easy high interest free purchase periods for any length, they will start loosing money - Or introduce astronomical fees to continue making money in that space.