What does Monzo use for their backend payment gateway?

I read somewhere that they use stripe to make the payments from the card. What do they use at the backend when their customers load money into their account ?
Just curious to know when Monzo started at the beginning, did they use some off the shelf payment providers to facilitate the wallet services ?

They used Stripe, but no longer allow card-based top-ups as they now offer a full current account.


Marcel has it correct there

They used Stripe in pre-paid account days, plus some of time as current account, for loading the card, but that was removed as a) there are other options (e.g. FPS transfers) and b) it was very expensive for Monzo

Nowadays they have a direct connection to MasterCard and an almost direct connection to the Faster Payments Hub (third party getting removed this year owing to issues)

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Monzo.me is a workaround :wink:

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@SouthseaOne Thanks for the reply. But if I understand right stripe does not support top-ups and wallets ?

Yeah Stripe is just a card payment processor. It was being used to provide the ability to top up your Monzo account using a card.

It’s a bit like PayPal in terms of processing.

However PayPal being different where you have an account and balance with them.

(If you heard of Braintree thats owned by PayPal thats what Stripe is.)

The customer does not login to Stripe its just used behind the scenes to say take this card and charge it this amount. As a customer you can’t store your money with Stripe.

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I think @phildawson has explained that better than I could and has the point covered

TL;DR Stripe just did the backend and there was no direct customer interaction