News: APT PayPal Australia takes on Afterpay with no-late fee 'buy now, pay later' offer, page-39

I would suggest this is also why APT have been working on a banking product. At the end of the day, Apple pay is just a pay in 4 option with some undisclosed frills.

The value is really in directing a consumer to a merchant with larger baskets (what the pay in 4 bit does). That's what the merchant wants, you still have to lead the consumer to the store. I'm still not clear on how Apple achieves that, and they won't achieve it for free, there will be some cost to merchants (Look at their power over Apps and the App store). To get to where APT is will take time for Apple, despite their size the kind of ecosystem they will need to create won't come overnight.

I'm sure every digital payment provider is working on some sort of pay in 4 product right now, that's not where the value will end up being. If we start talking about home loan products, baking, share trading/crypto trading + online shopping marketplace APT will have a lot of power over the consumer.

It's clear what APT's hand is now, it's just a matter of whether anyone can catch them. In my honest opinion this move by Apple is really no different to Paypal last year.