Monzo Flex customers with iOS 18 and iPadOS 18 will have the option to pay in full or spread the cost over multiple months directly at the point of purchase in Apple Pay. Customers will be able to use this when shopping online using Apple Pay and in-app on iPhone and iPad. This allows customers to see the monthly payments, understand total cost including any interest and choose how they’d like to repay before completing their purchase. Kunal Malani, general manager at Monzo, says: “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. Now our customers are able to choose their monthly payments — right at checkout with Apple Pay when using their Monzo Flex credit card. This brings an even more convenient experience for our customers when shopping online.” Monzo is the first bank in the UK to adopt the feature as part of the roll out of the new iOS 18 operating system. In the US, Apple has announced that users will be able to redeem rewards with Discover credit cards, as well as apply for loans directly through BNPL firm Affirm.

The new integrations come just months after Apple killed off its own buy now, pay later service to focus on working with third parties for instalment loans.

Other banks understood to be prepping for an early launch include ANZ in Australia, HSBC in the UK, CaixaBank in Spain and Citi Synchrony, and issuers with Fiserv in the US.