Challenger bank Monzo has presented a solution to bill splitting in a new feature set to be embedded within the Deliveroo app.
A link called Monzo.me will be at the core of new capability, which is intended to be shared via easily accessible platforms like Whatsapp among the members of the group required to pay.
Deliveroo has worked to make this more efficient with the incorporation of an option within the Deliveroo app to directly share the Monzo.me link among those contributing to the bill.
This is prime example of companies combining their innovative approaches to disrupt a process, a trend that is gaining attention and traction across the industries.
Monzo burst onto the banking scene after breaking free from restrictions and gaining a full license this year, the major milestone was achieved following significant investments from the likes of Thrive Capital and Orange Digital Ventures.
Record breaking funding was in fact achieved by Monzo, with crowdfunding rounds hosted by Crowdcube ensuring both financial stability and confidence regarding support for the mission of the new bank.
The challenger bank has been accruing losses since gaining its full license, due to the popularity of its pre-paid card service. Despite this, Monzo aims to regain momentum with the release of current accounts, a goal targeted for this year.
Deliveroo has been a disruptive force in ordinary life, and it is actively seeking to further enhance and streamline its approach to delivery.
Safety concerns from Deliveroo bike and moped riders have brought about a feature on the company’s app for drivers to make other drivers aware of safety risks. Recent acid attacks on Deliveroo drivers have sparked the development of this new capability.