Around 100,000 Commonwealth Bank customers who pre-registered for its new buy now, pay later product StepPay will be able to load the new card into their digital wallets from Wednesday, as CBA tries to stop customers fleeing to Afterpay, PayPal and Zip.
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StepPay: a new way to buy now, pay later everydayStep Credit Builder Review 2024How StepPay affects your credit scoreWhy Wednesdays are the new Fridays with early direct deposit | StepStepPay 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.
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