Commonwealth Bank of Australia has today unveiled its new Buy Now, Pay Later (BNPL)

CommBank’s new BNPL features include:

• Can be used anywhere Mastercard is accepted
• A limit of $1,000
• Use for everyday spend for transactions less than $100
• Four easy, fortnightly instalments for transactions higher than $100
• A new card issued to customers’ digital wallet on their mobile, so no need for a physical card
• No ongoing fees[6]
• No foreign exchange fees
• Late fees of $10 per missed instalment repayment. And caps are in place to minimise the amount of additional fees charged
• No additional merchant fees above standard merchant service fees
• Does not provide access to cash advances or gambling
• Available to eligible customers from mid-2021

Source: 

https://www.commbank.com.au/articles/newsroom/2021/03/commbank-unveils-bnpl-offering.html