Curator of Monobank: For half a year we plan to issue 400 000 cards
Last weeks, Ukrainians are massively uploading photos of new black bank cards to social networks. What in general is it? Back in May, the former top management of PrivatBank, Dmitry Dubilet, Oleg Gorokhovsky and Mikhail Rogalsky, announced that they were going to open the first mobile-only bank in Ukraine without offices. And they launched it together with Universal Bank under the name Monobank.
The creators of the new bank say that due to refusing in physical departments, their project managed to establish more favorable tariffs compared to other banks. Well, one of the most interesting users of mobile banking services was cashback. On the convenience of functions and services, the creators of Monobank want to compete with the Privat24 application. Although the new bank is still far to its five millionth audience. Monobank managed to issue already with tens of thousands of its black cards.
It was done in three weeks, when the mobile bank was already working in beta testing mode. Today Monobank had to get out of it. Deputy Head of Universal Bank Julia Akulenko agreed to answer a few questions
- What was the duration of the test period and how many cards did you give out?
The test period was 3 weeks and we issued 12,000 cards, although they sent out invitations only to those who agreed to become a tester.
- What bugs did you find and fixed?
We created a closed group on Facebook for the testers. Customers shared their wishes. A lot of problems had been corrected in time, thanks to the high response of the community. From all types of payments and schemes for calculating credit limits to cosmetic improvements. We decided not to close the beta program and all innovations should always be tested by our first beta testers.
- What features will be available after a full launch?
A couple of weeks after the start, the application has a function of a technical installment, which has no analogues in Ukraine.
- Whom do you consider your competitors? And what about PayPass and Android Pay?
Our customers are smartphone owners, modern people. Of course, they have long mastered Privat24. Of course, at the start we do not have such a rich choice of services in the application, there is no taxi and wine, shopping centers. But what we have already implemented, it is more convenient and we continuously move on. A Monobank card allows you to pay for trips in the metro contactless, exactly like any other contactless payments. The only nuance from the metro is that it is temporarily impossible to buy a travel card through the MetroPass system from our card — this is one of the mistakes that we identified during beta testing. Now we are dealing with this issue with colleagues from MasterCard, in the near future the error will be eliminated. Android Pay will be, while it is difficult to name the term, but the process is on.
- What are your expectations for the next six months?
Our plans are ambitious. For the first six months we expect to issue 300–400 thousand cards and after that we will try to keep the pace. We plane to start really trending project and it will be connected with cryptocurrencies.
- What do you mean? Will it be connected with payments?
Yes, it will! The crypto currency has a tremendous potential, and with it a colossal resource appears. Crypto currency has already significantly changed our economy and our world, but this is only the beginning. The pace of innovation is accelerating all the time, and the more important is the need to stay one step ahead. The Crypto currency will change everything — from investing methods to paying for purchases and using electronic devices.
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