Monetisation through purchase details


(Jason) #1

Read an article about how Monzo is looking at monetisation and wanted to couple it with a feature I would very much like to see.

I would like to be able to see details of the purchase for each transaction.
So, I would like Monzo to try and push big retailers to integrate with the API to add these details in.
This obviously creates a wealth of data that takes reporting to the next level from the customer’s perspective.
It also creates an opportunity for monetisation if the retailer API is charged for.


(Alex Sherwood) #2

Interesting idea, itemised receipts have also been discussed here :arrow_down: but this is the first time someone’s suggested charging users to receive that data.

I’m not really a fan of the idea to be honest, obviously the same information is free when it’s on a receipt. It would be key for budgeting too (for breaking down purchases by category) & I’m not that it would be a very good user experience if users had to pay to access it. I don’t like the idea of some users having access to certain functionality & not all either. At the moment all users are treated equally & I’d hate to see that end. That’s just my opinion though :slight_smile:

You could ask the team from Flux what they think…


(Jason) #3

The retailers would have to pay, which would be a negligent amount for them. If a make a £20 bill at Sainsbury’s, I am pretty sure they won’t mind paying 1p :wink:


(Alex Sherwood) #4

What would they be paying for exactly sorry & why?


(Jason) #5

For the access to the API that will populate the transaction with the purchase details.

I go shopping at the super market, make a £20 bill.
Supermarket has the details of the purchase, as soon as the payment is done they use Monzo’s API to populate the transaction with the details of the purchase.
Supermarket pays for this.
They would pay if the amount did not make any difference to them but provided an additional service to their customers.


#6

I can’t see any major supermarket doing this at cost to them when it is of no financial benefit to them