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Case Study

Delivering Europe's first full-service digital banking solution

Edenred Payment Solutions helped Monese disrupt the traditional banking scene by enabling unbanked customers to open current accounts in just two minutes.

2 minute read


Founded in 2015, Monese is a British-Estonian company that offers current accounts and money transfer services as an alternative to traditional banks. Monese provides accounts in Pounds sterling, Euros and Romanian leu, and is available in 31 countries across the European Economic Area.




countries with active Monese users

Case Studies

Account access for all 

Partnering with Edenred Payment Solutions powered the launch of Monese’s upgraded mobile-only banking account, equipping users with a contactless Mastercard and, uniquely, full direct debit functionality.



Monese started when its founder moved to the UK and tried to open a bank account – a task that he found anything but simple. He needed proof of his address, local credit history, utility bills and countless other documents – but he couldn’t get any of these without having a bank account. 

After getting stuck in this frustrating loop, he set out to fix it so no one would ever have to go through the same ordeal. The idea for Monese was born: an account to help individuals who live, work, travel, study or retire abroad, and typically find it hard to open a bank account in a new country.

To make this vision a reality, Monese needed the help of a payment partner which not only brought the technical know-how, but the human touch needed to empathise with the end user.



The partnership powered the launch of Monese’s upgraded mobile-only banking account, equipping users with a contactless Mastercard and, uniquely, full direct debit functionality. The current account service was initially accessible in 20 European countries, in eight languages, and was the first of its kind to stretch across Europe. 

Edenred Payment Solutions put together a bespoke suite of products:

  • Licenses
  • BIN Sponsorship
  • UK Sort Code and Account Number
  • Access to Payment Schemes in the UK & EU
  • Virtual Cards
  • Debit Cards
  • Apple Pay & Google Pay functionality
  • Instant Notifications
  • 3DS


The team at Edenred Payment Solutions really understood our vision and we were impressed by their knowledge and professionalism. Despite our complex list of requirements for this important undertaking, they successfully migrated an existing customer base, to deliver the integrated account on time.

Norris Koppel, CEO, Monese



Monese is now able to offer a complete digital account experience and its customers can open an account in minutes. Customers in 31 countries can quickly enjoy all the benefits of a current account style product, even if they are not a permanent resident.

Monese is available across Europe and has become a favorite of many, reporting a grand total of more than 2 million users.

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