Monzo Flex customers using iOS 18 and iPadOS 18 now have the option to either pay in full or spread the cost over several months at the point of purchase through Apple Pay. This feature is available for both online shopping and in-app purchases on iPhone and iPad.
Customers can view their monthly payments, understand the total cost including any interest, and select their preferred repayment method before finalizing their purchase.
Kunal Malani, general manager at Monzo, expressed enthusiasm for the feature: “Our customers love using their Flex credit card with Apple Pay, and we’re excited to be the first bank in the UK to offer this capability. Now, our customers can choose their monthly payments directly at checkout when using their Monzo Flex credit card, enhancing the convenience of their online shopping experience.”
Monzo is leading the way in the UK with this feature as part of the new iOS 18 operating system launch. In the United States, Apple has also announced that users will be able to redeem rewards with Discover credit cards and apply for loans through BNPL firm Affirm.
These new integrations come shortly after Apple discontinued its own buy now, pay later service to concentrate on partnering with third parties for installment loans.
Other banks anticipated to launch similar features soon include ANZ in Australia, HSBC in the UK, CaixaBank in Spain, and Citi Synchrony, along with issuers using Fiserv in the United States.