Revolut launches instalment payment plan for credit card users

Revolut launches new service, enabling credit card users to repay purchases through fixed monthly instalments

The feature will be available for new and existing cardholders and targets customers who may otherwise consider ‘pay later’ finance solutions or a personal loan.

Revolut said it will begin offering an installment payment plan service for its credit card customers which will allow cardholders to make repayments in fixed instalments.

Announcing the new product on Monday, the growing fintech, which now boasts more than 3m customers in Ireland, said it is one of many new products to be introduced to the market in 2025 with the bank expected to begin offering mortgages this year.

The neobank’s service allows customers to repay credit card purchases through ‘Instalments’ at either three, six, nine, or 12 monthly intervals at rates of 9.5% (9.98% APR). 

The feature will be available for new and existing cardholders and targets customers who may otherwise consider ‘pay later’ finance solutions or a personal loan.

Revolut said its service will allow multiple purchases to be consolidated into one ‘instalments’ plan. “This is a feature that is quite unique to us,” said Rob Mooney, head of lending at Revolut Ireland.

He said Revolut grew its credit card products by 87% year-on-year and also plans to offer new features this year including cashback services.

Already, Revolut has committed to growing its presence in the credit space, as well as delivering mortgage products to the market by the end of the year.

“Mortgages are also to come later this year too, as well as ‘pay later’ products, which is also a neat product.” Mr Mooney said.

“We’re looking at what else we can add on top of that in the next two to three months,” the head of lending added.