NewDay launches digital-only credit card 'Bip'

Tuesday 27 July 2021 15:00 CET | News

UK-based financial services company NewDay has launched digital-only credit card Bip, which can be added to the digital wallet of the user’s mobile phone.

Bip is available via the App Store and Google Play, and can be added to the digital wallet of the user’s mobile phone. Just like a traditional card, it can be used anywhere Mastercard is accepted when making contactless or online payments.

Bip offers no annual, foreign exchange or late payment fees – just one interest rate – typically 29.9% APR. If eligible, users can be up and running in minutes. In addition, customers can set two kinds of spending caps to give them control – including a warning and a freeze cap within the app and can set spending alerts to ensure they remain in control.

Customers can also see how much they could save on interest with the Payment Calculator, allowing them to understand the impact on the interest they will pay by increasing their repayments. Everything is accessed through the Bip app – including a chat function to help customers service their account.

More: Link

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Keywords: product launch, credit card, virtual card, digitalisation
Categories: Payments & Commerce | Cards
Countries: United Kingdom
This article is part of category

Payments & Commerce