Millennium bim has launched a new feature on its Smart IZI app that allows customers to convert debit card purchases into fixed monthly instalments, enabling them to spread higher-value expenses over several months.
The bank described the solution as a first in Mozambique. It allows customers to split purchases valued between 25,000 and 150,000 meticais into two to six instalments, subject to eligibility criteria set by the institution.
The facility carries no interest charges. Customers pay only a set-up and processing fee, the amount of which is disclosed before the transaction is confirmed.
To use the feature, customers must access the Smart IZI app and select an eligible debit card purchase made within the previous seven days. They can then simulate the available repayment terms and confirm the conversion of the purchase into instalments.
Once confirmed, the value of the purchase is credited to the customer’s account, which is then repaid through fixed monthly instalments in accordance with the chosen plan.
Rui Pedro, Chief Executive of Millennium bim, said the new feature was designed to address customer needs and provide greater flexibility in managing higher-value expenses.
“Innovation has the greatest impact when it responds to the concrete needs of people,” Rui Pedro said in a statement, adding that the solution represents a further step in the evolution of digital banking in Mozambique.
The new feature forms part of the broader development strategy for the Smart IZI app, which has been progressively incorporating new digital services. Among the features recently made available is the ability to open a bank account entirely online.
With the new service, Millennium bim aims to expand the options available on its platform and support customers in managing their expenses through digital solutions.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/09/03/tech-3/millennium-bim-vai-permitir-a-divisao-de-compras-em-prestacoes-com-smart-izi/
