You can get weekly statements for your Oyster card delivered by email, though not sure about contactless admittedly!
And thereās my issue - they give it for something I donāt need it for, and donāt give it for something I need it for
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Hah - sounds about right. One can hopeā¦
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So I wish theyād hurry up and post some news on Apple Pay. Iāve just got my current account and am loving it - but the lack of Apple Pay is the number one reason why I wonāt yet switch my salary to being paid into Monzo. I use the convenience of Apple Pay too much to want to lose it by switching to a bank that doesnāt support it.
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Tomās tweet wasnāt the immediate reply to Mathews but a reply further down the thread.
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Hi All,
New to Monzo but I can tell you why in my opinion, lack of Apple Pay support is a deal breaker.
- Security:
ā¢ When I pay in a store with a physical card, the merchant has the ability to theoretically see my card number, my signature and of course the security code. While unlikely, it does provide an opportunity for this information to be stolen.
ā¢ The more often I need to get out my physical card, the more the risk that I use my card in a fraudulent payment terminal and thus my card is cloned. Those details canāt change dynamically for each transaction.
ā¢ Apple Pay uses one time payment numbers for each transaction but crucially the security code is a dynamic security code that also changes. Even if the security code was compromised at a point of sale system, your iPhone has already changed the security code in anticipation of the next transaction.
ā¢ Biometic security means every single payment is authorised quickly and efficiently with Apple Pay. A contactless card requires no such authorisation but limits itās usefulness and security in terms of the amount you can spend to Ā£30.
- Privacy:
ā¢ Many conventional bank cards have your name and indeed your bank account number engraved on them. This encroaches on the topic of security but itās also nice that when I pay with Apple
Pay, these details are not shared unnecessarily with every cashier I interact with.
ā¢ Details of your transaction are never shared with Apple. It stays between you, the merchant and your bank, in this case Monzo. Your device account number is stored encrypted in a Secure Enclave locally on your iPhone or Apple Watch.
- Convenience:
ā¢ Apple Pay is in many instances quicker than fishing out a card in a wallet, particularly if you have an Apple Watch on your wrist. Iāll always have my Watch strapped on or my iPhone with me so I can always make payments anywhere that accepts contactless.
ā¢ In official partner stores of Apple Pay, it is possible to exceed the contactless limit. I purchased a TV from John Lewis with my Watch a few weeks ago, no need to share credit card details with the cashier. As mobile payments continue to rapidly grow, more and more merchants will accept and support mobile payments above the standard Ā£30 contactless limit of a plastic card.
ā¢ When purchasing online from merchants that support Apple Pay, with a single tap, my payment is completed including filling out my billing and delivery address. With the conventional debit card this has to be typed in manually, or at least edited as auto fill often creates discrepancies.
- The Future:
ā¢ Smartphones and other devices will only continue to become more central to the things we do every day both in financial terms and others. I think swift adoption of new and emerging technologies is important for a company like Monzo who market themselves as innovative and forward thinking.
ā¢ The contactless market in Britain is much more mature than in many other countries so I think weāll see it more and more widely adopted, merchants enabling payments over Ā£30 on mobile devices in more places.
ā¢ The smartphone will eventually become a comprehensive digital wallet. Youāll have loyalty cards, debit cards in many cases already. It isnāt a stretch to imagine digital driving license and passport documents in the future. The physical card is a bit like a DVD or Blu-Ray. Still relevant but itās only a matter of time before streaming services become the dominant force and wipe them out.
ā¢ As some have pointed out in this thread, a potential pitfall of Apple Pay is battery life on your device. While for me I personally havenāt run in to any issues with this, I think over time this problem resolved itself. Think new battery technologies, fast charging and the recent introduction of wireless charging. You can change your phone with Qi Wireless charging in McDonaldās these days! It isnāt too much of a stretch to imagine future wireless charging tech being truly wireless, itās already possible over short distances.
Finally Open Banking. This is a new service where by third party developers can create modern, slick mobile banking apps that link to your existing current account. As an example, letās say you bank with Barclays, you could use a third party app to access and manage your account with a much sleeker, modern App than the one provided by Barclays. Right now Monzo has a beautiful app with a great interface but it lacks some of these key technologies such as Apple Pay. If they donāt support them, then many including myself would use a third party app linked to the traditional bank account that I have that supports Apple Pay among other things (albeit with terrible first party apps!).
Itās time Monzo.
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We we promised in Q1/Q2 2017. It solves the problem of ease & of members like me who donāt like the card colour & thus means I do not use the account until Apple Pay is live. It personal choice after all 
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Iād use my Apple Watch then 
The payment card number doesnāt do this on mobile payment systems either. This is a myth for the most part.
This is describing magstripe contactless, which is less secure. EMV contactless (including mobile payments at compatible terminals) is far more secure than just a rotating CVC
I really love mobile payment systems and use Android Pay daily. So donāt get me wrong. Itās just one certain company really overhyped what made them unique. The only new thing is the tokenisation of the PAN (which is a persistent token created when the card is added and kept indefinitely). Everything else security-wise is just that company describing how contactless worksā¦
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They donāt have to be partners with Apple, they just have to support CDCVM in their terminals. The same technology is used by both Apple & Android Pay, as well as some high tech cards with built in fingerprint readers.
Liam
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and remove or amend any in house limits on the EPOS systems
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True, but generally I think this always gets done when CDCVM is added. Iāve never seen CDCVM used somewhere that blocks contactless attempts over Ā£30.
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Maybe they were idiots, but the only reason I commented was this happened in a local store where their POS terminals were linked to the card network via an EPOS system or computer, and they did not know how to use their system 
That was probably because their were a small mom and pop firm with only 3 branches. I think in huge chains they have no issues as they have people skilled up to go around stores to upgrade, or even can do it from remote.
A true acolyte if Nicola Tesla! I do hope we get there some day
I used apple pay via apple watch on the underground - not having it it is one of the few (only? maybe only standing order UI being the other) pain points where Monzo is less convenient than my previous banks
Yeah, according to that timeline it should be here by the 17th Januaryā¦ wait, itās past the 17th January. Somethingās gone wrong hereā¦
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Yup
obviously when the team adds an item to the roadmap or moves it to a certain list, theyāre expecting it to be ready within that timeframe but that doesnāt always work out in the way they originally expected.
I+1 convenience within iOS for ability to pay for items with a single click or select a specific bank with a few clicks
+1 backup for when you forget / break / lose a card
+1 for convenience in travelling on the tube, when your phone is in your hand already
+1 for that weird positive phycological feeling you get for being able to see all your bank cards in a single place
+1 for the future ā¦ with Apple allowing 3rd party apps access to NFC with iOS 11 I suspect itās going to become more and more natural to use your card to scan ā¦
being on this train is just a great convenience and hopefully good preparation for a careless future
Edit ā¦ cardless future, Iām not so bat sh1t that I think This is going to solve lifeās problems
Also, Apple Pays means that other people donāt have to see the hideously coloured āhot coralā card!
I like monzo but the card design is not my favourite (tho to be truthful it is only the lack of Apple Pay and CASS that keeps me from switching)
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