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N26 launches N26 Installments, allowing customers to settle past payments in installments

  • 'N26 Installments' allows the online bank's clients in Spain to pay for purchases made up to four weeks before in three to six installments.
  • The new product presents a responsible alternative to traditional loans or buy-now-pay-later products by focusing on past purchases already paid for in full
  • According to research carried out by N26, 45% of respondents in Europe would consider splitting payments for a large purchase into installments, while 16% would consider taking a loan, and only 12% paying with a credit card

Madrid The online bank N26 continues to expand its product portfolio and enters the world of credit. The digital bank announced today the launch for its customers in Spain of 'N26 Installments', a flexible payment solution that allows purchases made up to four weeks before to be split between three and six installments, giving instant access to up to 82% of the original purchase price. The functionality will provide N26 customers with greater financial flexibility and security, helping them to retroactively manage their expenses directly through their app, without interest or late payment fees.

Despite the similarities with the Buy Now Pay Later model, the alternative differs in that it only allows for the splitting of transactions that have been previously paid for, thus avoiding over-indebtedness and overspending beyond the user's means. The new product also responds to a growing customer need. According to a study conducted by N26, 45% of customers in Europe would consider splitting the payments of a large purchase into installments, while 16% would consider taking out a loan and only 12% would pay with a credit card.

Gilles BianRosa, Chief Product Officer at N26: We know that consumers tend to approach lending and credit products with care, especially because of concerns that these may encourage them to spend more than they can afford to, building up large debts that they may struggle to pay off. We see N26 Installments as a responsible alternative to traditional loans or buy-now-pay-later products as it focuses on past purchases already paid for in full.

With 'N26 Installments', available to the bank's customers in Germany since July 2021, account holders in Spain will have the option to pay for their purchases valued between EUR 20 and EUR 200 that they have made in the last four weeks in easy-to-manage installments. With the option to split monthly payments between three and six installments, they will be able to select a plan that suits their needs, with an Annual Interest Rate of 7.49% to 13.99% and a simulation of future payments displayed in a clear and transparent way in the app before the transaction is executed. The solution allows customers to have instant cash available for those times when they need greater financial flexibility. By splitting a payment into installments, they will immediately receive reimbursement for the original cost of the chosen purchase and the first installment charge. Payments will be automatically deducted from their accounts each month and reminders will be sent the day before the payment is due so that the payment never comes as a surprise.

Marta Echarri, General Manager of N26 in Spain and Portugal: 'N26 Installments' will allow our customers to make purchases with confidence and flexibility, but also with responsibility. In our quest to improve and simplify people's relationship with money, we seek to provide them with a new way to manage their expenses so that they can manage their monthly budget with total comfort.


About N26

N26 is building the first mobile bank the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has welcomed more than 8 million customers in 24 markets. N26 has a 1,500-strong team of 80 nationalities based across the globe. It has teams based in 10 locations: Amsterdam, Berlin, Barcelona, Belgrade, Madrid, Milan, Paris, Vienna, New York and São Paulo. With a full German banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS, and desktop. Valued at more than US$9 billion, N26 has raised close to US$ 1.8 billion from the world’s most established investors, including Third Point Ventures, Coatue Management LLC, Dragoneer Investment Group, Insight Venture Partners, GIC, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.

Website: n26.com | Twitter: @n26 | Facebook: facebook.com/n26 | YouTube: youtube.com/n26bank

N26 Press Contact press@n26.com