Hello hello, here’s an update on Monzo Points:
The quick takeaway 
We’ve learned tons from the Points trial over the last three months. And now that the trial has come to an end, we won’t run any more tests on Points until later in the year, or perhaps early next year. We’ve got tons of exciting features on the go, and we’d like to finish some work on Monzo Plus and Business Banking before coming back to Points.
The full story
We set out to build a loyalty and rewards scheme 
In 2019, we decided to scout out a few new features. Along with Monzo Plus and ISAs, we said we’d look at loyalty, rewards and cash back. This has long been one of our top requested features.
We launched an MVP within a month, got lots of feedback, and showed that Points was valuable to people 
Two of us kicked this off in April, and within a month we’d launched an early test to the community. The test let you earn 50 points at Greggs when you spent over £3.50. After some quick refinement, over 6,000 people were enrolled into a three month trial, and we gathered tons of feedback via the community.
Most importantly, you found the rewards we were offering valuable, and we found you were willing to shop at certain places to get them! This gave us confidence to keep building out the points experience, and a pipeline of partners who could reward our users.
We improved the experience with a new home screen, and tested a few more offers (including a lucky draw) 
By the end of May, four of us were working full-time on this, with a couple of others part-time. We responded to feedback and shipped a second version of Points with a much cleaner user experience, and also ran a few more tests with Google Pay (such as the lucky draw which let you earn up to 100 points each time you paid with Google Pay) and loyalty stamp-style offers.
We did lots of user interviews, and found more ways we could improve Points 
In early June we conducted 12 user interviews which highlighted some further learnings on usability. For example:
- People don’t understand the full lifecycle of an offer (i.e. activating an offer, spending, earning points, claiming a reward by spending points, and then going into store to redeem it) > this includes what the states are, what state an offer is in.
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People use very different language to describe Points, which contributes to the confusion around the lifecycle. We’ve since improved this, simplifying down to
earn,spendandclaim. - People aren’t sure what they can do with the points, as there were limited rewards (and sometimes none); we later added in cashback to ensure that there was always something to do with your points.
- People don’t realise that they’ve earned points, as the blue text on a feed item disappears after you’ve tapped on it once, and points don’t show up on the push notification.
- People found the experience said when they have no offers or rewards, and so we added a neater ‘no offers at the moment’ state
We have a bunch of exciting things we’re working on, and we need to get them out of the door before we run any more tests on points 
We spent the first few weeks of the quarter running tests on cash referrals, which went pretty well. And we’ve also been adding firepower to Business Banking and Monzo Plus!
We’ve found working on too many things at once can be pretty distracting, and so we’ve decided to put Points on hold in order to prioritise shipping Monzo Plus and Business Banking. This means we’re unlikely run any more tests on Points until later in the year, or early next year.
We’ll cash out any points you have left, and remove the Points Home from the app 
We’ll be removing the Points Home from the app whilst Points is paused. Of course, you won’t lose your points, and so we’ll be giving you 1p for each of the points you have left. We’ll let you know all of this via feed item if you’ve earned any points during the trial.
Your input throughout has been invaluable, thank you so much for building this with us 
I also wanted to say a massive thanks to you all. There’s been over 750 comments on this thread since April, and I hope you can see how your feedback has filtered down into the latest version Points; we’ve definitely built this together.
If you’re interested, hop on over to the Business Banking and Monzo Plus threads to help us supercharge those features over the coming months!
Rich & The Gang