This is reverse predator lending. Its payday loans and crap converters type of customer, but the vendor is paying the cost. So no I don't see regulators coming into the space (and it won't be the RBA- perhaps you mean ASIC or APRA).
Either way this is lending money for retail credit even though it is at no cost. I believe they do charge a late payment fee...so that makes them a lender and credit provider, which will put them in the crosshairs of a regulator. Id assume any credit to an under 18 is written off and unrecoverable?
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