Monzo adds virtual card for contactless payments to Flex BNPL product

Monzo adds virtual card for contactless payments to Flex BNPL product

News
November 26, 2021 by J.D. Smith
23
Monzo’s buy now, pay later product, Flex, will come with a virtual card that lets users make contactless Apple Pay or Google Pay payments in-store. Unveiled in September, Monzo Flex lets eligible customers get a credit limit of up to £3000 and then pay for transactions of over £30 in three instalments at 0% interest,
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Monzo’s buy now, pay later product, Flex, will come with a virtual card that lets users make contactless Apple Pay or Google Pay payments in-store.

Unveiled in September, Monzo Flex lets eligible customers get a credit limit of up to £3000 and then pay for transactions of over £30 in three instalments at 0% interest, or over six or 12 instalments at 19% APR.

After feedback from customers with early access, the digital bank is giving users a virtual Flex card for contactless instore payments. For online transactions, customers enter their card details at the checkout. After making a payment, shoppers select an instalment plan and pay the first part.

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