Yesterday we added NewDay cards to Labs, so you can now test connecting your Amazon, Argos, Aqua, or Marbles cards to Monzo.
We’re back today with a second Labs update for Monzo Plus, this time for all connected accounts: we’re adding merchant logos to your connected account feed!
After you turn on the new Labs toggle the following connected account transactions should be matched to a merchant:
We want to make sure this feature is as good as possible before we give it to everyone. So if you spot something that doesn’t look right, tap on “Suggest merchant details” to drop us a note about that transaction, and we’ll take a look.
Right now we’re focused on getting the right names, but let us know about wrong or missing logos too.
Remember: you’ll need Monzo Plus or Monzo Premium to connect an account
And as always, let us know what you think!
You are a star and we love you.
That is all.
Great addition. Bravo!
Is there going to be more resource thrown at this to correct them?
Excellent new merchant data collection flow klaxon!
(Once this is working, can we have the Trends strings for merchant views, back please? And also turned on? @davidwalton)
We see merchant information as foundational for a lot of the work we want to do on Trends, so we’re keen to get it right. And we are…not unaware that the existing feedback system is less than ideal.
If we were working on a merchant view for Trends, merchant enrichment for Connected Accounts would certainly be a good first step, wouldn’t it…?
All looking great. But here’s an oddity:
Refund showing in feed without a logo:
Tap into it and logo present:
You’re on Android aren’t you? Hmm. Send us some feedback on the refund?
Certainly a good step towards a master feed too
Hope this is what you meant!
SO MANY MERCHANT UPDATES ALREADY.
(Be still my hot coral heart).
From the merchant feedback queue:
Which…which of you did this
Definitely your fellow blue circler!
Am I right in assuming these share some form of merchant group with transactions on your Monzo account?
Are these changes affecting the merchant data for our current accounts? (Yes is a good answer! )
The answer to that is unfortunately not straightforward The short answer is sometimes.
Roughly, this feature works by trying to match external account transactions to existing merchants in our database. This is tricky for card payments because the data we get through Open Banking doesn’t include the full card network message, so here we’re using a new and slightly different way of matching merchants. It also falls down when we see a merchant that no-one’s ever shopped at with Monzo before!
Non merchant data question:
I’m about to CASS away an old current account for £££bribe. There’s not much data in it (because Monzo) but I kinda want to keep all its transactions in Trends.
Is that a thing?
(Actually let me keep that on topic: I really need all my old merchant names and logos in Monzo from a closed account!).
Some feedback on the new merchant data screens:
It’d be excellent to show somewhere (up top maybe) the current data (so name and logo) of the transaction you’re correcting
I’d love to have separate fields for common social media (Twitter, Insta etc) that display the company’s logo when you fill them in (so you know you’ve got the right one)
Some link to see all your transactions connected to that merchant would be cool
Historically this has happened a lot with Monzo’s own account merchant data, possibly because the refund is not necessarily tied to the original transaction ID.
Maybe some auto-detection of common retailers would fix this?