New P2P Lending Credit Card by Elfin Aims to Shake up the Industry

Lending
02.08.2022 02:50 pm

Elfin Market, the UK-based peer-to-peer lender, is pleased to announce the launch of the new “Elfin Card”, the world’s first peer-to-peer payment card.

This new prepaid Mastercard gives our customers a flexible way to use their credit accounts. Alongside fee-free, almost instant transfers to their bank account (with no cash advance fees).

Features Include:

- No foreign exchange fees and unlimited fee-free international ATM withdrawals - Contactless-enabled prepaid MasterCard

- £200 fee-free monthly domestic ATM withdrawals

- If misplaced, the card can be easily frozen in the app

All customers will be able to order the card via the app on 26/7/22 after updating to the latest version of the app, available on iOS and Android. The rebrand will be live on a brand-new website and app at the same time on 26/7/22, matching the card’s design. The change shows how far Elfin Market has evolved over the past few years.

“After a successfully closed beta stage, we can’t wait to get the cards in customers’ hands. I believe the addition of the Elfin Card to our popular borrower product will help make Elfin Market the go-to platform for flexible credit in the UK.” - Mansour Bouaziz - Co-founder & CEO

“Though technically not a credit card, the Elfin Card was designed to offer UK individuals the same borrowing flexibility as a credit card, without the sky-high rates and numerous additional fees.” Lakshithe Wagalath - Co-founder & COO

Elfin Market is a peer-to-peer lending platform, offering borrowers credit 75% cheaper than the average credit card*, with a representative APR of 5.8%, and investors an innovative finance ISA for tax-free returns.