So Why does the Post Office refuse the Monzo Card

[j06 (Jamie)]

A good time to remind Monzo why PayPoint is a horrendous, unethical company for small retailers:

PayPoint Shops don’t know how to process cash deposits

I am a paypoint retailer and I am going to try help by explaining a few facts. Firstly I have never had any notification regarding Monzo payments however using paypoint isn’t rocket science and most things can be dealt with fairly quickly and easily. There are 2 types of PP machine, I can only speak of the older yellow box style. Firstly our machine costs £10 month (£10 week if iPad type of machine) Retailer commission is capped at 10p per transaction. Business bank fees are 70p per £100 Ho…

Why do paypoint merchants not accept monzo top up?

It was quite a while ago I wrote my original post so I thought I might chip in again and explain a bit further and yes this is only one shopkeepers opinion but my explanation of this situation may help others understand. Many retailers have had paypoint for a long time that is true but they have been seriously eroding commission over the years. 15 years ago my paypoint made a profit then it slid until it was costing me money to run. Over the last 5 years or so pp has added more services, these a…