Monzo said to enter BNPL market

Monday 13 September 2021 12:38 CET | News

Monzo has been rumoured to enter the Buy Now, Pay Later market, as the digital bank looks to boost its profitability.

The bank is finalising plans for a service, which will include affordability assessments, as stated in Reuters.

Monzo has attracted five million customers since launching in 2015, but has struggled to turn its popularity into profits, with its annual losses widening to GBP 130 million in the year to February.

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Keywords: BNPL, product launch, digital banking, banks
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech