Carmoola brings Apple Pay to the car finance industry

Car finance fintech house Carmoola is claiming an industry-first integration with Apple Pay. allowing customers to pay for their car directly through their Apple Wallet.

The business said the introduction of the Carmoola card on Apple Pay is a significant industry milestone through offering a streamlined, user-friendly approach to car finance, eliminating the traditional, often cumbersome, processes of ‘traditional’ lenders.

Carmoola's digital-first payment service is compatible across a range of Apple devices, such as iPhones, Apple Watches, iPads, and Macs, making it available to the majority of Apple users.

Amy McKechnie, co-founder and director of product at Carmoola, said: “We want to empower customers to take control of their loan on their terms - from budget setting, through application, to buying their car and beyond. The introduction of Apple Pay demonstrates our ongoing commitment to using technology to improve the staid car finance process. 

“As the first direct-to-consumer car finance lender to offer this payment capability, we're setting a new benchmark for convenience and security.

"With Apple Pay, our customers can now buy their cars with the simplicity of a touch or a glance, a true reflection of our dedication to innovation and ease of use in car finance