Commonwealth Bank of Australia to launch BNPL offering

Thursday 18 March 2021 15:23 CET | News

Commonwealth Bank of Australia (CommBank) has announced the launch of its buy-now-pay-later (BNPL) offering.

According to the bank, the solution can be used anywhere, and debit and credit card payments are accepted. CommBank will begin rolling out the solution to eligible customers starting mid-2021. The offering will be linked to a CBA bank account and will allows customers to split purchases over four instalments.

Eligible customers will be allowed to apply for the product after they submit proof of a regular salary deposited into a CBA transaction account which can cover repayment instalments. The bank informed that the offering will only be available to customers following internal and external credit assessments.

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Keywords: CommBank, BNPL, ecommerce
Categories: Payments & Commerce
Countries: Australia
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