ID Finance, a fintech group operating in Spain and Mexico, has introduced Turrón, a payment solution developed by its brand Plazo. The product combines an e-money account, a debit card and a Buy Now, Pay Later (BNPL) mechanism, and is designed to let customers split online and in-store purchases into instalments without additional steps at checkout.
How the instalment mechanism works
Unlike many BNPL products that require customers to select an instalment option at the point of sale, Turrón applies the split automatically at partner merchants, both online and in physical stores. Customers do not need to take any additional action during checkout for eligible purchases to be divided into interest-free instalments at no extra cost.
Before completing a purchase, users can view the repayment schedule within the app, including the instalment amount and the collection dates. The standard structure consists of three monthly instalments, while purchases made at selected retailers may qualify for repayment terms of up to twelve months, subject to applicable conditions. The card carries no maintenance fees and does not require a subscription. Customers using the Turrón card at partner merchants also accumulate cashback, which is tracked automatically within the app.
Positioning within ID Finance's platform strategy
According to a company representative, the card is intended to integrate into existing spending habits by applying instalments automatically, reducing friction for customers at the point of sale. The representative added that the launch extends the company's platform to include BNPL and instalment payments as part of its broader financial services offering.
The launch forms part of ID Finance's strategy to build a range of digital financial products addressing everyday customer needs. Plazo was launched in 2021 and has since expanded from a mobile finance application into a platform combining payments, financing and features related to financial well-being. The introduction of Turrón adds an instalment and BNPL layer to that existing offering.
Funding background and profitability targets
The launch follows a EUR 140 million structured funding round completed by ID Finance in 2024. Plazo reported reaching profitability for the first time at the end of 2025. Following the Turrón launch, the company said it is focused on expanding its network of partner merchants. The addition of BNPL functionality is described as a further step towards Plazo achieving full-year operating profitability in 2026.
The move places ID Finance among a group of European fintechs extending card-based products into embedded instalment payments, a segment that has drawn increasing attention from both consumers and regulators across the EU in recent years as BNPL usage has grown.
