Flux: The End of Paper Receipts & Loyalty Cards

Would love to see flux working as a means of helping me with my business expenses.

Imagine being able to use a Mondo card and then specifying which transactions were for personal or business?

I end up with so many business receipts to scan and then enter manually enter each transaction on a spreadsheet before my manager has to approve them.

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Can I ask how this guy has been able to integrate Flux with Monzo when Iā€™m seeing on the Flux website that it hasnā€™t been rolled out for Monzo users yet?

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What can I say, Iā€™m a sucker for punishment and enjoy joining things in beta testing :slight_smile:

I should have known. Gadammnit.

Thereā€™s not a way of sharing yet, how would you like to share it if you could? :thinking:

Hey @TimBanting :wave:

Totally agree, weā€™ve run an internal demo thatā€™s linked to tapping the expense button. Receipt gets sent to accounting software, rules applied (e.g. no alcohol at lunch hours) and then reimbursement to Monzo account. Itā€™s amazing.

As we scale with more retailers weā€™ll be looking to work with accounting / expense companies for this purpose.

:smile:

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Sorry @Dennison, they got on super early! Weā€™ve got a long waitlist and are eagerly awaiting adding more users such as yourself :smile:

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I had a few ideas on my weekly shop today,

It would be nice if this would work its way into pulse and targets.

Example i spend Ā£50 every wednesday at tesco, the future graph shows a dip when it expects me to do my next shop.

Also i think this next one would require a bit more thinking, it would be great to some extent if flex would pricecheck against other supermarkets. And give me suggestions on where to shop and save money

(Im a bit salty missing out on a few Ā£1 deals because i didnt check online before buying the other day :grimacing:)

Also for lager purchaes, laptops, phones etc warranty information would be great.

And for things like clothes it would be great if it would let me know when my return peroid is almost over.

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Would love to see the testing list for the flux integration expanded a bit - Iā€™d like to try this out with EAT. Which other companies are you expanding to cover in the near future?

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Hey @Aj7 :wave:

Loving this, thanks you so much for sharing! Weā€™ve been looking at using receipt data to manage more effective budgeting for a little while for precisely the use cases youā€™ve defined. Do you think offering suggestions on where you could otherwise spend to save money would be enough to make you shop there? Factors that we consider important is cost saving and extra distance travelled. How much money saving would be enough to persuade you to shop elsewhere and how far would you be willing to go?

Weā€™re on the same page with warranties and return periods! :ok_hand:

Thank you for your support and we agree - itā€™s what weā€™re thinking about everyday now! Weā€™re looking at high-frequency right now so other EAT style retailers. Any particular retailers youā€™d like to see added?

I think if theres a consistent approach to it the distance travelled wouldnt be a concern for most. Generally in most towns ive been to in the uk your only going an extra mile or two from your local shop to somewhere else.

I have a tesco, morrisons, and a sainsburys within 5 mins of each other so personally its a case of how much im saving. I would honestly say anything below Ā£10 wouldnt make me shop somewhere else if its convenient to go to a closer supermarket.

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Iā€™d like to try it out sometime, what is the actual limitation at present on testers?

Re other retailers Gailā€™s, pret, Amazon, boots and of course any/all the big supermarkets would be good. Anything where people typically buy several items and make repeat purchases. You might have more luck getting some smaller online retailers on board too as theyā€™ll be more tech savvy, but I guess your problem at present is you have a two sided market. What are the benefits for retailers?

Iā€™d like to use it to look at my own spending rather than as a loyalty card replacement, but would not be averse to rewards.

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Soho Coffee might be a good one to get on board. They might be more open to the idea than Costa, Starbucks etc

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I used it at EAT recently. It turned an expensive breakfast roll and cuppa into a more reasonably priced one with the cashback deal, and the receipt looks great.

Just let down by only having one business signed up. Though I donā€™t think there is a competitor yet, so they are in a good position that way.

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I think a lot more independent coffee shops should look to sign. Many have loyalty schemes. Costa is dying on my high Street- people are frequenting the Indies. Iā€™m all for that!

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Just spotted this news on twitter:

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It doesnā€™t work with Monzo yet, does it?

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Probably most 3rd party integrations will happen after the new API is ready.

Nope, Iā€™m keen to try it out but both sides are saying the computer says no just now. You can use it with Starling though. Hopefully with the new APIs this is exactly the kind of business which will be enabled though - great to see they have their AISP authorisation, thatā€™s a step in the right direction, and Iā€™m happy to see Monzo are planning a compatible API as it sounds like exactly the kind of marketplace theyā€™re aiming for.

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