Keen to see more detail on this when it's available. BNPL is...

Keen to see more detail on this when it's available. BNPL is obviously APT's core business - they have to make a margin on the product. It won't be Apple's and perhaps there is a model in there where Apple's 'margin' is in using it as a means to increase sales of Apple products (where they make a significant margin) as opposed to making a margin on Apple Pay Later itself. If that were the case, we've got a problem.

Australia's main BNPL players down 7-10% on open on the back of this news.