To me this isn’t as much as CBA trying to crush Afterpay, as...

To me this isn’t as much as CBA trying to crush Afterpay, as more of a recognition that BNPL in general is crushing credit cards. And seeing as Credit Cards are the domain of the big 4 banks, they need to do something to stop that bleed.

it’s why Westpac partnered with Afterpay.

The reality is, in the same way US households will end up with Netfix, Disney+, HBOMax, Peacock etc and the old cable companies get crushed, that consumers will probably have 4 or 5 different BNPL providers that replace 1 $5k credit card limit. Because down the line BNPL will have loyalty programmes etc, so what utility is gained from a credit card?

The pie is big enough for all