Do many people still use physical cards?

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83

Bugger. :joy: Would I be good with a non-LINK ATM?

84

Who would the card issuer be?

You could try using the barter system instead of cash

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85

I have the Greggs app on my phone with a few quid pre-loaded onto it, but itā€™s just there as an emergency back up food fund, and to collect my freebies :grin:
I still use my physical card most of the time in there.

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86

ā€¦ good point.

87

That was the final thing that has made me convinced humanity is doomed

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88

Itā€™s my lunchtime survival kit :rofl:
Emergency steak bake anyone? :crazy_face:

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89

A few days ago I wouldā€™ve agreedā€¦ But Iā€™ve been won over again by vegan mince pies. :star_struck::seedling:

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90

Another argument in favour of the physical card :grin:

There must be people like me, who from time to time like to get away from their phones
(My good lady and I enjoy a bit of tech free time every now and again)

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91

Surprisingly enough the smaller merchants that just get a plain card reader from an acquirer bank are usually the best in terms of acceptance. Itā€™s the bigger ones that try to do ā€œcleverā€ things like Tesco and their Clubcard or the Post Office that donā€™t accept it even though their card readers do support it. The usual excuse is ā€œitā€™s the systemā€ and I guess they live in a world where software engineers donā€™t exist and the ā€œsystemā€ is something given by a superior deity that mere mortals have no power to modifyā€¦

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92

Itā€™s not that hard. I know several people who are cash only.

93

Petrol station near my work is chip and pin only.
Most likely due to very few transactions being under Ā£30.
Either that or it being independent means they try and keep costs down by not upgrading things.
But itā€™s annoying when I only want Ā£15 worth to tide me over but it keeps my SCA reset so it has its benefit.
Looks something like this article-0-06528DAF0000044D-834_233x423

94

There are some publicly available stats - though I suspect Monzoā€™s demographic might mean their customers behave in a markedly different way.

In Vocalinkā€™s State of Pay report, the following statistics are given:

For transactions under Ā£30

  1. 64% sometimes or always use contactless (up from 34% in 2017)
  2. 83% sometimes or always use their card
  3. 60% sometimes or always use cash
  4. 10% make a contactless smartphone payment
95

Slightly different perspective from someone in the US:

I still use physical cards most of the time. I do have Apple Pay, but I donā€™t use it all that often at home; I prefer to get out my card to use it unless my wallet is buried deep in my bag and I donā€™t feel like fishing it out. I also do a lot of spending through gift cards because grocery stores and office supply stores here tend to have discounts on those on a fairly regular basis, so the physical card Iā€™m getting out isnā€™t always a bank card.

When Iā€™m traveling, however, itā€™s a different story. I use Apple Pay a lot more because Iā€™m not using gift cards as much, and because a lot more stores take contactless. I usually only get out my card to withdraw cash or to check in at a hotel. In Japan in particular, itā€™s also because Apple Pay with Suica extends the effective acceptance of my credit card by a lot, and because of their current cashless rebate scheme (pay with something other than cash and you get a 2% discount applied at the till if youā€™re at a convenience store or up to 5% of your spend credited to your transit pass at a later date at other stores).

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96

Tbh this thread is an example of where this forum isnā€™t representative of Monzoā€™s userbase or the wider public when it comes to banking habits - unlike say (I suspect) much of the feedback the Plus team have received and ignored.

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97

Forum feedback or their other sources? Because I think the forum is unrepresentative there as well

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98

In my view, the forum l can be unrepresentative of the wider public/userbase as represented in this thread. Itā€™s certainly got issues in terms of demographic diversity for instance.

In the same way, if you go to some of the Monzo events itā€™s like being in fishbowl where almost everyone acts/thinks the same.

On the other hand I suspect that on occasion there is lots of valuable feedback that Monzo ignore like on the Plus thread.

From what I read on here, I also donā€™t think much of Monzoā€™s other market research efforts either - they seem to be rushed, have small sample sizes and seen likely to involve those already involved with the brand.

99

All constructive criticism is valuable regardless of where it comes from.

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100

As an experiment I stopped carrying a wallet a few months ago. I have an iPhone and iWatch and live in London, I havenā€™t gone back to carrying one and have only had 2 or 3 instances where this was an issue. Very liberating :slight_smile:

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101

The forum is either representative of the customer base or itā€™s not. You canā€™t really pick and choose bits and pieces.

Letā€™s not bring Plus in here. There are threads for that.

Thanks.

102

Not sure that is right.

I think it would be right to say that this forum has far more users interested in fintech than the entire customer base, but I would also say the forum is pretty representative of the customer base in terms of how many people use contactless or biometric payments?

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