Monzo is a Mastercard Debit Card. Wherever Mastercard is accepted, you can use your Monzo card. As a startup company, Monzo faced trouble finding the right cooperation partner. Monzo decided to partner with Mastercard early on. Mastercard proved to be supportive of innovative startup financial technology companies. In October 2015, Monzo launched their first Mastercard prepaid debit card. It proved to be popular with the market. In January and May 2017, Monzo reached 350,000 customers on Mastercard prepaid debit cards. With Mastercard’s globally recognized conversion rate and no hidden costs, you can spend anywhere in the world in any currency. Mastercard’s exchange rate is also better than Amex’s and Visa’s. Other than that, there are no added fees on top. Currently, Monzo is still in partnership with Mastercard.