How should Monzo get paid for marketplace products?

Could you please expand on this?

In Monzo’s case, they have specifically said that they will protect user’s privacy -

As we’ve seen with the testing of the energy partnerships & as Tom’s mentioned, Monzo users may effectively pay for the services too, by sacrificing some of the savings that they could have gained, if they had signed up with the supplier directly. But as far as I can tell, that will be the cost to the user (in return for convenience), rather than privacy.

Monzo is offering suppliers a way to access users without paying for marketing & in return, they’re taking a portion of the incentive that the supplier would have paid the user to get them to switch & / or some of the money that they would have spend on marketing, in order to earn revenue. Once Monzo’s has enough users, that could mean that the supplier actually saves money compared to traditional marketing methods, while the user benefits from the insights, along with frictionless access to & management of, the service.

The reality is that if Monzo doesn’t enable access to useful suppliers & give useful recommendations, they won’t earn revenue. So there’s a clear incentive for them to make this service work for users, as opposed to users simply being taken advantage of. Call me naive but it seems like a win / win to me - I don’t have a problem with the suppliers benefiting too.

I’m strongly opposed to that idea because it immediately creates a barrier for those who can’t afford to pay for the service. Presumably if Monzo want to achieve their goal of offering the current accounts to the unbanked, that’s not an option. It sounds like you may have accepted that already though..

What do you mean?

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