NFC Contactless Wearables

As a customer, I want to be able to have a keyless fob like bPay used to have which is closed down now. In small sizes to make contactless payments when i’ve decided to not take a bank card or my wallet with me but my house keys. I would like to be able to set a minimum balance topup if it falls below a certain amount and be able to view my balance on the fob at any time. Some nice cool designs would be amazing. I really really think this can be a great feature for Monzo and there is no other bank doing it currently in the UK! I’ll even be the Product Manager for this! :smiley:

I assume with your keys you’ll also take your phone?

Google/Apple pay has been around for donkeys.


If you don’t want to carry your phone, wallet or keys, have you considered cash?

True Utility TU241B-P CashStash Waterproof Emergency Cash Capsule for Key Ring

Dont use apple pay. I dont have a passlock on my phone and it is required.

I don’t this would be possible due to SCA which means you need to enter your PIN every £100

Has any body considered the elderly too?

Why wouldn’t you? How could you prove you were in possession of it using 2 factors?

Most elderly people I know take a purse or wallet with them

Its prepaid. So top up. Not connected to your bank card directly.

So you top up before every single purchase?

You set a minimum top up if balance falls below £30 too up by X

So you’d need SCA on that or else it could be used multiple times if stolen

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Put a pin code on your phone and problem solved.


@Revels is it though?

You’ve mentioned something that doesn’t exist anymore. And this isn’t something Monzo will do.

Add a passcode to your phone. Open a Starling account. Then everytime you want to out without your wallet and phone, add £20 from Monzo to Starling.

This is all just bizarre!


Ok, so let’s pretend this is theoretically possible, how much would you be willing to pay for this?

It’s got to be at least £100 for a fob that does what you want due to the small numbers wanting it, time to implement it etc. They can’t offer things that only a small number of people want and that will cost them money. That’s why bPay shut

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Most elderly have no problems using cash or card or contactless.

In my opinion it’s a gimmick and what stops someone unauthorised using it?

They’re many companies out there offering wearable payment devices. Most are going bankrupt each day due to the fact no one wants it or needs it as with most banks you have:
-The card it self.
-The contactless
-Apple / Samsung / Google pay either on a phone or a watch

Plus most of them needs Bluetooth connection to work which defaces the point since you can just use your phone and save buying a pointless thing.

I always thought Barclays stopped bpay because there wasn’t a way for them to implement SCA hence why it’s no longer available

Stopped because they moved the feature to pingit but pingit is closing. Theres still a demand as the devices for some reason are still in amazon.

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