I’ve been playing with p2p payments for a little while now, and I’d love the ability to send a quick message back after receiving the payment. “Thanks, Ben - hope you got home safely.” etc
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To pick back up on paying others and PayM it would be nice if it worked something like:
You say you want to pay someone you havent paid before
App offers to get details from phones contacts or you can just add them
App checks if they are Mondo customer
App checks if they are on PayM (I assume there is a API call to check this by their telephone number)
App then shows if either of above are available
App offers to add additional payment method (ie option 1 and/or 2)
This way the user doesnt have to be forced down a particular route to find out whats available.
As for Option 1 or 2 (dont like 3) I think option 2 is best, but the other person would find it odd and might not trust it.
If you send a payment via bank transfer it would be good to have option to SMS at the same time with a message.
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Maybe I’m jumping on the bandwagon a little late here - I also have a Monese account. Internal P2P payments are instant. For external payments I believe they use a company called the currency cloud. I’m assuming they have some sort of account with them and any external payments are processed by them. Smaller amounts seem to go thru fine and within the faster payment 2hr cap. Larger amounts have taken 24hrs and I’m assuming this is down to to the credit limit that they have with them before funds upfront are required.
Just a thought maybe as a temporary measure before full banking facilities are granted?
The “receipt capture”/“highlight to split” feature would be incredibly useful. I split bills and tabs all the time with friends, especially on trips, and invariably paying at restaurants is a nightmare. Waiters have trouble splitting the bill into individual bills, and my friends and I spend 10+ minutes at the end of every meal working out who pays for what, what total they owe and to whom, whether they’re paying with card or cash, what currency they’re paying in, etc. It makes the dinner less enjoyable. I’d love to be able to snap a picture of the receipt and send it to my friends, with their part of the bill highlighted and a request to transfer that amount to me to reimburse me for covering the bill.
Also, it’d be nice to have the option to save the request to split the bill for later, since I don’t always have Internet access while traveling, and also to link the repayment to the original transaction (restaurant bill, bus/train tickets, etc.) so my budgets would accurately reflect the amount I spent “post-reimbursement”.
I’m constantly using an app called Splitwise. Daily with my girlfriend and a couple of times a year with friends when going on trips. I love the group function where you simply just add costs to the group and the app calculates the split. That app is however lacking a good way to settle up, you’d be the perfect couple and it would be a smooth on boarding to go from splitting bills to get a card.
Seeing the notifications that are presented as you use the card it would be rather smooth to check in once in a while to tag the items; If on a trip it could be automatically suggested the who to split with based on pattern of last purchases, letting you toggle people or make any adjustments to the split.
When ending the trip or triggering a settle up, the app could notify the members who gets the option to settle up either via Monday, Paym or record a cash payment.
I’m originally from Sweden where are version of Paym has become a success. I don’t know anyone who dosen’t have it and it’s now grown to a platform for businesses where you can actually shop online by using special recipient numbers. Great potential for the UK if you ask me.
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This is a really great idea that I will be pleased to see.
Either pay via P2P or split the bill as Uber split your ride and help you to make your friend to participate in the cost of the ride. Really nice idea @jamesallison !!
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Hello,
this might be a little late…but I recently moved here from the USA and its incredible how far behind Europe is in terms on banking, which is what led me to Mondo.
Have you guys heard of the “cash” app? (i’m sure you have, its what snapchat also uses for P2P payments within their app) Anyways, it’s great for this reason:
you pay ANYONE instantly, from your debit card to their debit card. Beautiful. That person doesn’t need to be the same bank as you, on your phone, no account numbers swapped. I loved it and used it all the time to pay friends in the US. Europe seem to be a fan of the whole (frankly annoying) sort-code business. Is this a requirement for some reason?
Would be awesome if you found a way to simplify this whole process 
I think the UK call it PayM. Instant transfer based on phone number, irrelevant of bank. Hasn’t really caught on though. But I do agree, I’m really missing a way of splitting costs, some times my spending a week is double just because half of it is my GF.
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Uber has a VERY good example of this type of ‘fare splitting’ functionality!
Check it out if you haven’t already tried it 
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It works very well, but it has fees!
It would be nice if any incoming payments can have the option to be assigned negatively to a category. So if I pick up a meal for 2 and the other person pays me half through the app, it deducts half from my spending on eating out.
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@Benjsross you’re totally right, we need to do that. We’ll probably fix it once we build bill splitting functionally, it’s all kind of the same use case.
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I used the P2P feature again today and feel there should be a ‘review payment’ screen (to confirm the beneficiary name and amount) before transmitting - like Barclays Pingit etc.
I realise that means an extra click but I think it will help to prevent payment errors in the long term as the volume of P2P transactions increases.
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It is with PayPal, but yes Monzo needs this too.
PayM integration please
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I agree with this too think this will beneficial 
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I wouldn’t be comfortable using (2) on either side of the transaction. It just doesn’t feel very secure. I have some experience in infosec and I think that, so I imagine the average consumer would be even more distrustful.
Also with (3) it’s friction that doesn’t really need to be there. Even legacy banks don’t require the payee to create an account with the sending bank. I don’t think it’s a good idea.
Now the current account has launched I need to turn off paym on barclays and add it to Monzo! Do you have plans to enable this?
Hi Hugo, what’s the timeframe on that. I’ve been desperately waiting for this fix for a year 
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I’ve never used the bill splitting function in monzo but I have exchanged P2P payments in both directions and I agree with others that it would be really handy to be able to categorise them as a credit against the relevant spending category, e.g. I pick up the tab for dinner then my partner pays me back for their share. The incoming payment is shown in transactions but not listed in the relevant spending category, even if I categorise it in the transactions list. Any idea when this functionality might be implemented, given that your post several months back implied that they’d probably be done at the same time?
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