So Mastercard have announced their new cards will not have the magnetic strip on the back as this is rarely used. As most transactions are done either by contactless or chip and pin. But it got me thinking. If Mastercard do this then how are Monzo customers going to be able to topup via PayPoint? As retailers have to swipe the magnetic strip to put credit on the card.
Maybe paypoint deposits will have to end and Monzo will finally start allowing the post office to topup the card. But then Monzo will have to issue all new compatible cards to work with the post office.