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They're currently dependent on Wirecard for the underlying processing until they get their full banking license. At which point they can ditch that dependency -
by AdamGibbins 10y ago
They're currently dependent on Wirecard for the underlying processing until they get their full banking license. At which point they can ditch that dependency - that's expected to be in ~May this year.
Edit: My mistake, its GPS doing the processing -- who are currently experiencing issues.
- tluyben2 10y agoSo it is the Wirecard infra failing then? And it depends if they can ditch that dependency; they will have to work with GPS or whoever themselves then. That is quite a lot of work. There are companies providing an intermediary to lessen that burden. Ideally you would want to cut it out indeed.
- BillinghamJ 10y agoI believe it is specifically GPS, however I believe they are also doing that directly for their current account launch - they're putting a lot of emphasis on doing everything in-house
- OJFord 10y ago> I believe they are also doing that directly for their current account launch They are, I just updated my top-level comment - they confirm that in the blog post the CTO linked in another comment here: https://monzo.com/blog/2017/03/05/outage/ https://monzo.com/blog/2017/03/05/outage/
- abritishguy 10y agoWirecard are the issuing bank but not the card processor.
- ereli1 10y agothe processor is the dubai based GPS https://twitter.com/GPS_Processor https://twitter.com/GPS_Processor