CaixaBank is set to become the first bank in continental Europe to offer split payments for e-commerce transactions through Apple Pay. The new feature, available in the coming months, will allow CaixaBank credit card users to divide their payments when shopping online using Apple Pay. This option will be accessible via iPhones, iPads, and Apple Watches running iOS 18 or iPadOS 18.

With this feature, users can choose whether to pay upfront or spread their payments over multiple months directly at the point of purchase. According to the bank, buyers will be able to view their payment options, see associated costs (including interest), and decide how to complete their transactions.

As of now, this feature has only reached Europe through Spain and England (with HSBC and Monzo banks). Outside of Europe, only US consumers (through Citi, Synchrony and issuers with Fiserv) and Australia (with ANZ) can access instalments from credit and debit cards with Apple Pay. 

In Germany, Apple chose not to offer its buy now, pay later scheme directly, opting to partner with payment platform Zinia and Spanish bank Santander. Apple has a long history of business partnerships with banks, though not all have been successful; last year, Goldman Sachs ended its credit card partnership with the Cupertino-based company.

Mobile payments surge for Caixabank

CaixaBank, which closed the first half of 2024 with 4.4 million customers using cards linked to mobile devices, continues to see strong growth in mobile payments. According to the bank’s data, more than 800 million transactions have been carried out in the last 12 months through mobile devices, with over 30% of in-person purchases in Spain being made via smartphones.

The Spanish bank will become the first bank in mainland Europe to offer Apple’s split payment service. The feature, often referred to as “Buy Now, Pay Later” (BNPL), has gained considerable traction in recent years, especially in online shopping during the pandemic. BNPL options are typically linked to mid-range purchases and are characterised by their simplicity and flexibility, allowing payments to be spread over short periods (often three to four months). CaixaBank’s customers who opt for this service will be able to manage their split payments through their MyCard or other CaixaBank credit cards connected to Apple Pay.

Tapping Apple: is Caixabank at the forefront of technology?

CaixaBank has a long history of innovation in payment methods. It was one of the first institutions in Spain to adopt contactless cards and develop wearable payment solutions. The bank was also an early adopter of NFC technology, which allows users to make secure payments with their smartphones. Currently, CaixaBank supports various mobile payment platforms, including Samsung Pay, Garmin Pay, Fitbit Pay, and SwatchPAY!

Nonetheless, the bank might be falling behind in AI adoption. Evident Insights released its benchmark of AI adoption and maturity throughout the banking sector on Monday. The company evaluates 50 of the largest banks in North America, Europe, and Asia, and Caixabank placed 41, being only the third-best Spanish Bank. JP Morgan Chase led the ranking, followed by Capital One and the Royal Bank of Canada.