Monzo has introduced a new feature called Undo Payments, allowing users to cancel bank transfers within a 10 to 60-second window to enhance safety and confidence in transactions. This initiative responds to research indicating that 30% of Brits have made payment mistakes, with a significant amount of money sent incorrectly in the past year. The feature aims to minimize errors and potential fraud while providing users with a sense of control during their banking activities.
+ monzo
digital-banking ✓
fintech ✓
payment-safety ✓
banking-technology ✓