8.6 C
New York
Thursday, May 26, 2022
Home News Tymit launches new app-enabled instalment credit card

Tymit launches new app-enabled instalment credit card

London-based FinTech Tymit has announced the launch of its app-enabled fee-free instalment Visa credit card.

The Tymit card will now allow customers to plan their spending and spread the cost of purchases over three, six, 12 or 24 months.

The interest will only be calculated and applied to instalment transactions, rather than the whole balance, to save customers a significant amount of money compared to more traditional credit cards.

Related: The biggest changes to “Swipe fees” in a decade! Let’s see what Visa is planning.

Tymit co-founder and CEO, Martin Magnone, said: “Traditional credit cards haven’t really changed in decades. The big banks rely on old technology, and because they’ve had a monopoly for so long, they haven’t given a lot of thought to providing great user experience. You see this in the usability of their websites and apps, but it goes beyond that. ”

Martin Magnone, Tymit CEO

He added “Traditional credit cards offer customers almost no control, and that can be dangerous. The Tymit card and mobile app are different. They’ve been designed from the ground up to fit seamlessly together, providing a fast, intuitive interface that puts you in control and helps you make better decisions about your spending.”

Related: Trillion $ companies? Visa and Mastercard likely joining the club of few

The Tymit Visa credit card is issued by digital financial technology provider Wirecard and can be used anywhere in the world that accepts Visa.

The card will be rolled out to a select number of beta users from today, with waitlisted customers receiving invites soon after.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Revolut CEO Nik Storonsky launches his AI-based venture capital fund

Billionaire Nik Storonsky, the co-founder of Revolut, one of Europe's largest and richest startups, plans to launch his own AI-based venture capital fund to compete with legacy venture capitalists.

This is how Klarna will merge e-commerce with physical shopping

Klarna launches "virtual shopping" where online shoppers get access to experts in physical stores.

Revolut reached 1.7 million Irish customers

Of the 5 million population, 1.7million people from Ireland use Revolut to some extent.

Money20/20 “the place where fintech communities love to do business” is back

Money20/20 "the place where fintech communities love to do business" is back