An interesting paragraph from CBA's announcement that 'Stepay" was launched today to go live next Wednesday. In part the announcement says: -
"StepPay is also set to create new precedents for how banks earn payments revenue, even though the instalment service is free for customers, because the four-instalment construct is being treated by CBA and Mastercard as a credit card rather than a debit card payment."
EB
SPT Price at posting:
53.5¢ Sentiment: None Disclosure: Held