Monzo Introduces Monthly Payment Options For Apple Pay Transactions
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Monzo has launched a new feature for its Flex customers, allowing those with iPadOS 18 and iOS 18 to pay in full or spread the cost over multiple months directly at the point of purchase with Apple Pay. The bank revealed that this option will be available when shopping online using Apple Pay and for in-app purchases on iPhones and iPads.
The bank said customers can view their monthly payment choices, full cost, and any interest before deciding. Monzo noted that this lets users choose how to repay before cpmpleting their purchase.
Monzo Becomes The First UK Bank To Offer The New Payment Feature
Kunal Malani, General Manager at Monzo, said customers are pleased with their Flex credit card when using Apple Pay. He revealed that Monzo is the first UK bank to introduce this feature. Malani noted that this addition makes online shopping easier. It is meant to improve users’ overall shopping experience.
Monzo said it is the foremost UK bank to add this feature with the iOS 18 update. The company noted that this makes them stand out in the banking sector. In the US, Apple has also launched new features. Users can earn rewards with Discover cards and apply for loans through BNPL provider Affirm.
The company announced that Apple, in the US, has revealed new features, including redeeming rewards with Discover credit cards and applying for loans via BNPL firm Affirm. Monzo said these integrations come after Apple discontinued its buy now, pay later service.
According to the update, banks such as HSBC in the UK, ANZ in Australia, and CaixaBank in Spain, and US issuers like Citi Synchrony and Fiserv are set to introduce similar features soon. Monzo works solely through its mobile application, giving customers personal and business accounts, loans, and savings options with its bright coral Mastercard.
Monzo Focuses On Using Customer Funds Ethically And Avoiding False Tax Strategies
Monzo announced that it focuses on using customer funds properly and avoiding false tax strategies. It also stated that it has a firm stance against modern slavery and human trafficking.
The company said it does not invest directly in fossil fuels, but some of its partners, like Investec and Shawbrook Bank, have been criticized for harming the environment. The bank added that it wants to be clear about how it operates.
The firm announced that as a branchless digital bank, it has a smaller carbon footprint. The company said it aims to reach net-zero carbon emissions by 2030 and gives rewards to customers who switch to green energy providers.
