Amazon Partnership

Will it come at the expense of amazon having access to data?

7 Likes

I read an article today explaining how stringent Google were in their early days regarding product features and that simplicity they strived for actually made them rise to the top above their ā€œover featuredā€ competitors.

Iā€™d like to see things that actually add value to Monzo as a bank accountā€‹, not things like links to the products, opening hours (!?), return policies etc. Letā€™s not start treating Monzo like an e-commerce app/assistant, itā€™s a banking app.

Itemised transactions are a great idea, however, especially if youā€™re an avid shopper.

9 Likes

I think this is an important question.

3 Likes

Hugely agree with you. However Iā€™d view integrations which allow foresight into committed spend as core to banking and money management. Possibly not money management of the past where personal management has mostly been left up to the responsibility of the individual and their personal systems, but the new world where money management services are core to your bank in a SaaS style way. Power to the masses.

2 Likes

Iā€™d like notification of upcoming pre-order payments and also (more general than Amazon) to group spending across Monzo accounts. My wife and I have an Amazon Prime account setup between us but both spend on our own Amazon cards - weā€™d like to group ā€œTotal spent on Amazon this monthā€ between the cards.

1 Like

Yes - weā€™re certainly thinking about this wider than Amazon ā€¦ this was intended as a brainstorm for our discussions with Amazon at the moment. Thanks :slight_smile:

1 Like

Thank you all for your input - super helpful! Weā€™re still very early days with all partnerships and Iā€™ll take this to Amazon to see if anything is possible in the shortish-term. Will keep you posted if we work on any of this and Iā€™ll be sure to ask you more questions about what we should build going forwards! :smiley:

4 Likes

I like the part with the ASOS order detailed in PayPal transactions. It would be cool to have that on Monzo as well. Quite helpful! :slight_smile:

4 Likes

Order details straight from the transaction in Monzo, and a good Alexa skill for current balance (and maybe ā€œHow much do I have to spend on groceriesā€ type stuff for the current account targets)

3 Likes

If youā€™re a developer / adventurous techy person (like me), thereā€™s a couple of those that you can adopt from 3rd party developers already.

Iā€™m using this one from @Geit & itā€™s great :robot:

2 Likes

Lol! Me too. I was weekly paid on a Wednesday until recently and ā€œAmazon Prime Thursdayā€ was an actual thing for me :joy:

1 Like

It is definitely a feature Iā€™d love for Monzo- I sell stuff on eBay too, so sometimes Iā€™ll get a random payment and not realise what it was for (I donā€™t have eBay popup notifications) and find the transaction listed in full on my PayPal page.

1 Like

Instalments https://www.amazon.co.uk/gp/help/customer/display.html?nodeId=201606200

Interesting. At the current time, linking to Amazon would damage your brand for me. I do not use them because of their tax policy and their treatment of employees. It changes my perception of you as a light-weight, responsive, non-corporate, slightly counter cultural financial organisation to be aligned with Amazon. I use you because you are not a big corp! Anyway, just a comment - it wonā€™t stop me using you!!

8 Likes

I understand where youā€™re coming from @AliDuncan, and I also donā€™t use Amazon for the exact same reasons. There are also other merchants I avoid or prefer based on ethical issues but I know this doesnā€™t necessarily reflect most of the population. And that others will have different opinions on the ethics of the same merchants. So I accept that Monzo is going to enable integrations based on the reality of where people shop.

I donā€™t see this as Monzo taking on the values of the merchants theyā€™re integrating with, but making sure they are useful/attractive as a financial institution. The more people that want to use Monzo, the more impact :monzo: can have in promoting ethical and responsible financial management. Where it would be a problem for me is if Monzo start promoting or giving preference to companies like Amazon over others, especially small and independent merchants.

I realise that starting with Amazon could be seen as a form of preferential treatment. And personally Iā€™d prefer the first integrations to be with independent merchants (e.g. through iZettle or other payment platforms). However, at this early stage Iā€™m willing to give Monzo the benefit of the doubt that it is a pragmatic decision based on utility to the most number of people, combined with feasibility/reasonably quick path to a solution, to test the attractiveness of such integrations. If in the future the focus is on big merchants to the exclusion of smaller ones, or providing an advantage to one large merchant over another, Iā€™ll re-evaluate. But given that partnerships and the marketplace are only just starting development, Iā€™m willing to sit back and see what happens.

5 Likes

Iā€™m in agreement with you, I think if anything an integration can be a pathway to making change eventually.

2 Likes

I expect Amazon is one of the most popular merchants and that is the reason that Monzo are prioritising them. As someone who has made 81 purchases on Amazon since I joined last July, I would really appreciate the integration.

Similarly, I would hope for TfL integration. I know thatā€™s a bit London-centric but suspect again there are significant numbers this would benefit.

7 Likes

I agree with you, I think starting off with Amazon can be a sort of springboard but ideally Iā€™d love to see all my transactions listed out + contact options like PayPal for independent merchants and other brands too. It would be helpful given how you sometimes pay a lump sum and have to trawl through email order updates (which I usually delete) to find out what exactly has been charged/ if anything is missing

2 Likes

Great feedback, thanks! Note that weā€™re not starting with Amazon, although I know thatā€™s how it might be seen given the question I posted here. I just happened to be talking with Amazon and they suggested we ask you guys for your thoughts. Weā€™re also talking to a lot of other partners (and iZettle is on my list to talk to as well!)! :slight_smile:

11 Likes

:tada: Thanks for the clarification. That is really exciting to hear. :hugs: