CaixaBank activates installment payments with Apple Pay

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CaixaBank customers with iOS 18 and iPadOS18 will soon have the option to pay in full or spread the cost over several months directly at the point of purchase when paying with their CaixaBank cards in Apple Pay. Customers who choose to opt-in will have the option to do so when shopping online with Apple Pay and from the app on iPhone, iPad and Apple Watch.

CaixaBank closed the first months of the year with 4.4 million customers with cards linked to mobile devices, figures that are rising, with more than 800 million transactions in the last 12 months.

During the first half of 2024, more than 30% of in-person purchases made in Spain with CaixaBank cards were made with mobile phones.

The new functionality will allow customers to see the payment options available to them, understand the costs, including interest, and choose how they would like to pay before completing their purchase.

CaixaBank is the first company in continental Europe to offer the service, following in the footsteps of Monzo in the UK, Klarna in the US and UK and Affrim in the US.

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

Other banks preparing for an early launch include ANZ in Australia, HSBC in the UK, Citi Synchrony and issuers with Fiserv in the US.