July 26 2022

Elfin Market launches P2P payment card

Suzie Neuwirth Top 3, UK News Elfin Market, Lakshithe Wagalath, Mansour Bouaziz

Elfin Market has launched its long-awaited peer-to-peer payment card, giving its customers a flexible way to use their credit accounts.

The peer-to-peer consumer lending platform has unveiled the ‘Elfin Card’ today (26 July 2022), which is a pre-paid Mastercard that enables fee-free, almost instant transfers to the customer’s bank account.

“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,” said Lakshithe Wagalath, co-founder and chief operating officer.

Read more: P2P loans vs payday loans

The Elfin Card has no foreign exchange fees and unlimited fee-free international ATM withdrawals, and £200 fee-free monthly domestic ATM withdrawals.

All Elfin Market customers can order the card via the latest version of the platform’s app from today.

The Elfin Card launch ties in with the platform’s rebrand, including a new website, which matches the card’s design.

“After a successful closed beta stage, we can’t wait to get the cards in customers’ hands,” said Mansour Bouaziz, co-founder and chief executive. “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.”

The consumer lender first unveiled its plans to launch the Elfin Card in 2020, calling it a “game changer” for its customers.