Challengers to Afterpay please stand up, page-9

Rex, thanks for your comments and debate. Agree Banks can provide payment options but why would they offer interest free when they currently charge interest? Are you suggesting the Banks would spend Marketing money for an outcome of replacing interest paying customers with 'interest free' customers? The Banks would need to charge an additional fee to the Merchant for this service surely? This would be an enormous fee for 1 or 2 years interest free? And in any case this only applies to consumers who already have a credit card with that particular Bank?
And remember, (for new customers/applicants) any more than 62 days credit and applicant has to provide Payslips, Asset and Liability information and a credit check as per NCCP. Afterpay doesn't require any of this.
A Bank would win more credit card customers from other Banks if it offered more attractive and longer interest free options. And this could persuade some of the 20% of Afterpay customers who deduct their fortnight payments from their credit card to not use Afterpay? But that is the case now? Banks offer up to 55 days interest free now? Same as Afterpay.
And also remember, Afterpay customers can have the 4 fortnightly payments deducted from their credit card. This allows them to get up to 55 days interest free from their credit card Plus the 4 fortnights interest free Afterpay offers on top. I do this.