WBC has shared similar ambitions with ERG in the past but were shelved during the days of the ANZ Telstra alliance.
This time it appears on. A handy collaboration for both as interchange fees give great cause for this leverage play. Question is who will join the party? A loyalty component is needed. A telco also. Plus a few outsiders to hedge would just about complete the immediate picture.
Just a few thoughts.
cheers,
walt.
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