In a significant move for digital banking, Monzo has announced a major update that seamlessly integrates its Buy Now, Pay Later (BNPL) service with Apple Pay. This change is set to alter the spending habits of millions of its customers across the UK.
What The New Update Changes
The core of this operational amendment means that customers can now select the Monzo Flex credit option directly at the checkout when using Apple Pay. Previously, shoppers were required to pay for an item in full using their Monzo Flex card and then retrospectively log into the banking app to spread the cost of the purchase.
This new feature eliminates that extra step, offering a more fluid and immediate shopping experience. Kunal Malani, General Manager at Monzo, expressed enthusiasm about the development, stating: "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."
How Monzo Flex Works and The Key Requirements
Monzo Flex is designed to allow customers to split the cost of purchases over a chosen period. The available options are:
- Spreading the cost over three months with no interest.
- Spreading the cost over six or twelve months with interest applied.
However, there is a crucial technical requirement to access this new feature. Users will need an iPhone with iOS 26.1 or a later version installed to see the BNPL option at the Apple Pay checkout.
Important Considerations and Potential Impact
While the update offers greater convenience, Monzo's rules on repayments remain strict. The bank stipulates that if a customer misses a Monzo Flex payment, they have a seven-day grace period to make the payment via the app before the missed payment could be reported and potentially impact their credit score.
Failure to pay within this window could result in the customer being moved to a longer, more expensive payment plan that includes additional interest. This update from Monzo arrives as other high street banks, like Santander, also roll out new customer incentives, highlighting a competitive period in the UK banking sector.
