Mobile Chip and Pin

Feedback & Ideas
1

Hi,

Can I ask if it possible to either have a Chip and Pin machine that we can take payments direct to our Monzo Account, similar to ‘SUM UP’! If this could be done with a phone, that would even better!

Uses: Using if selling things, boot sales, small businesses

For people who may not like the monzo.co.uk/exampleuser or people who don’t have a device and only have their wallet. Currently these other suppliers charge for the machine (understandable) but pay per transaction, if this could be added in with out a payment fee it could be come very popular very fast!

2

I imagine they would need to provide business accounts first

3 Likes
3

As far as I understand it, the card networks (in this case MasterCard) charge for handling transactions. That cost gets passed on to the merchant by way of processing fees. Those fees are presumably accounted for when business work out their pricing.

1 Like
4

Completely understand! Thanks for the feedback :slight_smile: