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Monzo, TrueLayer to protect vulnerable customers with Open Banking

Thursday 18 February 2021 13:08 CET | News

Monzo and TrueLayer have teamed up to offer the protections for customers using new payment methods to gamble, according to the official press release. 

Monzo introduced a Gambling Block in 2018, following demand from customers who wanted help controlling their gambling addictions. Over 275,000 Monzo customers have chosen to activate the Monzo Gambling Block and less than 10% have ever switched it off permanently. The Gambling Block is a completely optional tool that blocks card payments to gambling firms. Customers can apply to their Monzo account themselves in the app or by speaking to a member of Monzo’s customer services team. 

However, with more and more gambling providers switching to Open Banking payments, Monzo and TrueLayer have teamed up to offer the same protections for customers using these new payment methods to gamble. This pilot means that Monzo customers will be able to benefit from an extended gambling block that prevents card transactions and Open Banking payments to operators supported by TrueLayer.


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Keywords: Monzo, TrueLayer, Open Banking, Gamling Block, Open Banking Payments, UK
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech