Halden Arbeiderblad – New service concerns: – Hi, let's see this in the luxury trap


"Our customers are innovative and like to be out there with the latest fintech and payment solutions. Being able to offer a watch payment is quite suitable for us as a newly established Fintech bank," says Gjerdem, managing director of Monobank, about the bank's latest service.

You can now use Monocard's credit card by covering the phone at the terminals that support the solution. A feature that will prevent a PIN from being printed for values ​​under $ 200.

Carefree bank manager

The press release does not tell us anything about the price: "Ordinary price 29, – / month. accumulates after the expired test period. Example price: 15,000, with 29.98% effective participation over 12 months. Total 17.225, –»(From the bank's website).

– Are not you worried that even more people will end up in the luxury trap when they can raise consumer loans with the phone?

"No, whatever, and at least not with our solution. The app has a good overview of what you've used. You have more control, not less, "says Bent Gjendem, governor of Monobank, for Nettavisen.

Concerned Consumer Economist

The luxury trap Lene Drange is not so calm on behalf of borrowers.

"This is a new form of SMS loan, which we'll soon see at Luxury Fellowship. That's not good news, she sticks.

"Of course it will increase the consumer when you combine consumer loans and these payment solutions," she says.


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