London based Monzo, previously Mondo, set the record for "quickest crowd-funding campaign in history" when it raised £1m in 96 seconds, and has reportedly helped users save over £1,000,000 within 2 months of launching its in-app Coin Jar saving system. Yesterday, another 30 United States banks also got onboard to support Apple Pay. Monzo's mission has always been to make sure everyone can use and manage their money effortlessly, and with Apple Pay we are one step closer to achieving that.
Now that the feature is live, Monzo is talking up the security and privacy aspect of using Apple Pay, noting that when you use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers.
One awkward issue with using the Monzo card with Apple Pay is that transactions will result in two duplicate notifications, one from the Monzo app and one from the Wallet app. Their design thinking has always been a source of inspiration for us.
If you open up the Monzo app on your iPhone, it'll now give you an option to add the card directly to your wallet there. Just follow the instructions!
To make Monzo your default way to pay, just drag your hot coral card to the front of your Wallet - we'd highly recommend it!