I would really like to see a small feature introduced where I can see which of my transactions were contactless. I think this would help with money management, as it makes recalling a transaction easier and (possibly) assists with identifying fraudulent activity.
I imagine this could be introduced using the contactless logo alongside the transaction amount, either in the main feed or the transaction overview page. Any thoughts?
Thanks a lot for sharing this idea with us, Iām not sure for how many people this would be noise rather than signal but weāll give it a go and see how it feels
What I donāt really get is your comment about fraudulent activity, what do you mean by that? Thanks!
Iām sometimes a little concerned about the ease of conducting a contactless transaction, so I guess thatās why I raised that point of fraudulent activity.
A scenario in which I see this being useful would be if I have a lot of transactions on a given day, and Iām certain that I have only used a PIN . If I then see a contactless transaction in my feed (when Iām checking my expenditure at the end of the day) it would allow me to identify that someone/something has used my card without my permission. Granted, this is probably a little extreme, but I do think thereās some value in knowing if a transaction is contactless.
Thereās a nice article here which outlines an industrial approach/view to contactless payments, which I guess I have become accustomed. In short, it says: ā[contactless payments] show up on your bank statement with the universal contactless wave symbol asideā.
I would also be keen on seeing contactless transactions being tagged. Useful when looking over past transactions and perhaps as an interesting metric over time.
Iām trying to understand why? My watch/phone alerts me when a transaction is made (within secondsš®) so doesnāt that eliminate most cases of fraudulent activity?
It would be interesting to know what % is contactless but arenāt most transaction contactless? (But also whatās the point of knowing this?)
Again my interest is purely historical. Yes my Apple Watch buzzes me the moment I make such a transaction but Iād still like to look back at past transactions and identify them.
Seems like this feature would be better suited for a report section. so you could have an overlook of your spending from a month / year. Allowing you to get a sense of your spending habits
Additionally, it might be good to be able to identify ācardholder not present transactionsā. The reason being that I occasionally see transactions on my card which I do not recognise (less likely with mondo) and I donāt know if have used my card and forgot, my card has been cloned etc. The added detail may be useful, especially when the transaction is delayed e.g. buying tickets for an event and being charged later when the tickets are dispatched.
Usually cardholder not present transactions would have Online transaction written under the merchant name and logo. Other transaction would have an address instead.
Iād like it on the transaction info screen if it provided as much information about the transaction as possible āContactlessā, āChip and Pinā, āChip and Signatureā, āOnline - CVV, Expiry and address matchā, āOnline - No CVV, Expiry or address checkā, āOnline - CVV and Expiry match, Address failed to matchā.
Iād like this alsoā¦ while we may get instant notifications (almost every time), it is helpful to view the transaction screen on a historical basis and see such useful information. Itās especially useful as the ecosystem expands and users employ things like Curve, which introduce an additional point of confusion/conflict/delay.
Wouldnāt bother me if this was here. I donāt really see how itās necessary with Monzo though. The reason many banks identify it is because itās not real-time notifications, so itās harder to spot if your card is being used. With Monzo, either way itās instant so you know.
Getting a refund - genuinely interested why it matters if it was contactless or not?
Ah - well I would hope thatās a very rare/niche issue. That being said, just because itās no use to me doesnāt mean it isnāt to others so Iād not stand in the way of it being introduced
No notifications?! Thatās the best part of Monzo!
My Barclaycard and Tesco CC apps do this and itās relatively useful. Personally I would like to extend the request so that we can have a little icon to identify ācard not presentā tranactions (which overlaps with but is subtly different from the current āonlineā indication in the transaction detail).