ID Finance Launches Turrón BNPL Card via Plazo

ID Finance has introduced Turrón by Plazo, a buy now, pay later (BNPL) card that automatically converts eligible purchases into interest-free installments at participating merchants. The product went live in Spain on July 14, 2026, and is distributed through the existing Plazo app.

Seamless Instalments with No Checkout Friction

The Turrón card eliminates the traditional BNPL checkout step by automatically splitting qualifying transactions into manageable installments—typically three monthly payments, with options for up to 12 months at select retailers. This “set it and forget it” approach provides a seamless payment experience for consumers.

According to Vitali Yermakou, country manager at ID Finance: “The card fits naturally into how people already pay for everyday purchases, with installments being applied automatically which removes friction when spending at merchants.” Customers can track cashback rewards on partner-merchant spending through the Plazo app.

Financial Foundation and Profitability Path

The launch follows a €140 million structured funding round closed by ID Finance in 2024, which has supported Plazo’s expansion. The unit achieved profitability at the end of 2025, with Turrón expected to drive merchant network growth that will contribute to full-year operating profitability for Plazo in 2026.

Navigating a Maturing BNPL Landscape

Spain’s BNPL market is evolving under new regulations from the European Consumer Credit Directive. This framework extends affordability checks and disclosure requirements to installment products, raising compliance standards for automatic-split models like Turrón—where underwriting decisions must be made before or at card issuance rather than at checkout.

While global players have partnered with local merchants, ID Finance is differentiating by leveraging its existing Plazo user base instead of relying on merchant-led acquisition. This approach presents both opportunities and challenges as the company seeks to build a competitive merchant network at scale.