Monzo, which has 13 million customers, is making it easier to use its Monzo Flex service.
Monzo makes change to buy now, pay later for 13 million customers
Monzo has made a huge change to its buy now, pay later scheme for millions of customers. Monzo, which has 13 million customers, is making it easier to use its Monzo Flex service.
Under a shake-up, Monzo shoppers now being able to choose to “pay later” at the checkout. You can also extend the repayment period to six or 12 months, but with interest added.
Monzo is now allowing customers to use Flex at the checkout in store or online, once they use Apple Pay. Monzo general manager Kunal Malani said: “Our customers love using their Flex credit card with Apple Pay and we’re thrilled to be the first bank to bring this feature to Apple Pay users in the UK.
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“Now our customers are able to choose their monthly payments—right at checkout with Apple Pay when using their Monzo Flex credit card.
“This brings an even more convenient experience for our customers when shopping online.” First you’ll need to add your Flex card to Apple Wallet if you haven’t already.
Then, when shopping online or in apps, tap the Apple Pay button at checkout. When shopping in-store, double-click the side button of your iPhone.
Select your Flex card to see your payment options. If Flex isn’t your default card, go to Other Cards & Pay Later Options to select it.
Tap Pay in Full to check out using your Flex default setting, or tap Pay Later to choose a payment plan that works for you.
Complete your purchase securely with Face ID, Touch ID or your passcode. If you’re checking out in-store, hold your phone near the card reader to finish paying.
Monzo said: “If you choose Pay in Full in Apple Pay, we’ll use your default payment setting.
“You can edit your payment plan in the Monzo app before your payment cycle closes, or change your default setting any time in the app.”