I’ll just leave this here…
Only available to new customers seems a bit shit but a good step forwards for Flux I guess in getting some rewards going.
I think features like this will definitely be coming to Monzo at some point in the near future. With the development of Personal Loans , overdrafts, ISA etc., I do think the next stage for Monzo is some kind of loyalty rewards as the above.
One app I think they could take inspiration from is called Wuntu (from Three UK, the mobile network).
That app updates weekly with new offers (such as Pizza discount codes, discounts on cinema tickets etc…) and that’s only available to Three customers. So something like that would be cool
I think that type of thing will come in time but it’s a ‘scale’ thing. The size of the customer base likely has a say in the level of discount and ‘leverage’ the offering company can offer.
No idea how many customers 3 has but it’ll be more than the 2 million that Monzo have (soon!).
One for the future I hope!
Yeah, first steps and all that. Fintechs are really speeding these things up though, legacy banks are noticing this as well so this entire space is going to be fascinating in the coming couple of years.
Monzo Points is currently being tested, I’m on my way to a free vegan sausage roll from Greggs.
They’re hoping to team up with a few brands before it launches properly. Loyalty points are/will be awarded when spending with your Monzo card.