Monzo launches virtual cards for contactless payments to BNPL products

Released earlier in September 2021, Monzo Flex allows eligible clients to get a credit limit of up to GBP 3,000 and then use it for products worth more than GBP 30 in three equal installments, at 0% interest. The six and 12 installment plans are also available with 19% interest.

Recently, the digital bank has offered its virtual Flex users the option of choosing virtual contactless cards for in-store payments. Clients who want to benefit from the option must enter their card details at checkout and proceed to pay the first installment from the installment plan they previously chose.