[senectus1]

looks like a digital debit "gift card" system.

Smart. Its a clever way to deal with legal boundaries on transferring money. Should be interesting to see them get it past Australian regulations.

[iancarroll]

Not sure about AU, but in the US, Apple is a registered money transmitter[0] because of this service. Doesn't seem like they are avoiding anything compliance wise.

[0] https://dfpi.ca.gov/money-transmitter-division/directory-of-...