Flux: Instant Digital Receipts and Rewards

(Kieran McCann ) #63

Monzo X Flux Launch

This is being live-streamed on Monzo’s YouTube channel at 19:00.

Watch Here

(Paul) #64

Does it work in Itsu’s outside London? There’s one in Bristol that I use occasionally

(Caspar) #65

One bonus - it gives you VAT number and breakdown of the vat cost, super handy for business expenses (esp if you’re a contractor). It’s on receipts anyway, but not always easily accessible.


So then - would i be right in saying this has killed the Flux website?

(Toby Toller) #67

Native itemised receipts are the main talking point, but the other thing Flux does is automate loyalty cards.

For retailers like Eat, instead of carrying one of those paper cards which you have to carry, remember, and get stamped each time flux just records how many eligible purchases you’ve made and credits you for the 10th coffee (or whatever their offer is)

(Martin Jones) #68

I hope Monzo isnt paying Flux for its services and more the other way around. Having Monzo is far beneficial to Flux.

When Flux get more retailers Id be happy but for Flux to only have few companies on board ie Costa kind of goes against all the social media guides ive seen online from Monzo, such as ‘ditch the coffee shop and make a cuppa at home’

(Adam) #69

So I’m guessing there’s been no big secret announcement from the launch event tonight.

(Paul) #70

So I notice that the rewards part of Flux is optional (mentioned on the stream, and here).

Why would I not want to enable that? Does it share less info?

(Thomas Horne) #71

So far Flux works really well; it shows everything that I’d want on a physical receipt and even shows more complex things such as my staff/center discount. :grinning: (Shown as an EAT Voucher.)

[Flux/iOS] Flux for Eat receipt text overflows and is not visible
(Jonathon) #72

Few thoughts:

  1. Firstly I love that this is getting there. It’s exactly what I think should have been done for years now.

  2. It’s going to be London focused because that’s where the most people and companies are. Good luck getting the corner shop down the road in Grimsby coming on board and providing useful mass data on how it can be rolled out across the UK. To be brutal: accept this is how it’s best done and accept it for now.

  3. How does this handle returns? I know you don’t often return items from the partners currently but I have been charged twice for coffee before and had a refund on one. Does the app update when a refund occurs? Is there a barcode the partner has to scan?

  4. While great, my gut instinct is that this is too big of a project to get more than a few major retailers on board. But please, prove me wrong!

(Michael) #73

But not recent Costa receipts?

(Adam) #74

Wrong on so many levels :joy:

Your need to step outside of the M25 and see there’s a load more than London.

(Jonathon) #75

I’m from the north. I’m not stupid.

But for major testing, a highly concentrated group of people with higher than normal disposable income in a city that has a higher concentration of fintech users and fintech companies and companies that generally are more progressive and open to trying new things, London cannot be beaten.

If you can name another city please do. And I mean one that has seriously more numbers than London.

(Thomas Horne) #76

I can’t see retailers wanting to add Flux support until more banks support Flux; with Monzo fully onboard a million plus new potential users have been added.

Barclays have Flux within their Launchpad app and hopefully may add it to the main banking app at some point soon.

(Adam) #77

Except for Monzo to grow bigger the last thing they should do is concentrate on London. You’re completely wrong to say London is where most companies and people are.

They’ve trialled Flux there which makes sense, but they need to integrate it with true national retailers now.

So no, it’s not good enough to just accept “that’s the way things are”. If Monzo don’t look to the rest of it’s UK user base to appear as a bank for them too and not just a bank for Londoners then they’ll start losing momentum and potentially custom.

(Ray Singh) #78

If I remember it correctly, Costa was listed as coming soon partner!

(Jonathon) #79

Exactly. They are still in the infancy so it makes sense to start where their main markets are. Sorry but I think you’re wrong to suggest that one city with 20% of the entire country concentrated in is not the optimum place to launch these kind of ventures. I think the fact that this is the norm is why you are wrong. Unless companies are voluntarily avoiding a better marketplace :man_shrugging:t2:

Name me a city with more people and businesses than London? Name me progressive retailers that aren’t primarily concentrated in London? Flux have to go where the money/people/retailers are. Fact is that Itsu and Pret and the likes are more in London than not.

Just about the only one I can think of would be perhaps Greggs. They would be a fairly good bet and are much denser in the north.

But so far you haven’t really explained why NOT London and also why these kind of ventures aren’t launched predominantly outside of London. Maybe you know something everyone else doesn’t?

Also: this is about Flux, not Monzo. Monzo don’t decide where Flux launches.


Wondering how the cashback works? Hope they come to southern England too, would be amazing if it worked in londis.

(Adam) #81

12% actually.

I agree, as a trial it makes sense. But now Flux have so many potential customers through Monzo and are now closely integrated into the app they do reflect on Monzo as a banking product.

There’s so much talk of how some people dislike “premium” banking products and how that can split the customer base into the “haves” and “have-nots”. My feelings are that if a more widespread national retailer isn’t added to Flux’s partners that those outside of London will feel less important to Monzo and their long term goals. That’s my point.

There’s so many high street companies and brands that could be added to this that would be a massive selling point to potential Monzo customers that I hope they’re helping Flux get them in board. Boots, Pret, Tesco, Asda, McDonald’s… Costa is a great start.

And earlier on you mentioned the local corner shop. The tiny sandwich shop next to my work in South Shields has a POS machine that emails me receipts for my lunch :man_shrugging:

(Jonathon) #82

Good for them, but if I were a start up I wouldn’t focus on that shop in South Shields.

If you watched the launch, they explained who they are targeting, and that is the largest retailers who have a high concentration of purchases - there just happen to be a lot of them in London because, you guessed it, it’s the biggest city (by a mile) and has a lot of the wealth there.

Flux are still very, very small. They aren’t even close to being National yet. I hope they will be, but there will almost always be a concentration in London down to basic scales.

Like I said, unless you know something every other company who launches (including, btw, Monzo) primarily in London doesn’t know?