Monzo is considering offering its own mobile contract in a move that could see it take on the UK’s biggest phone networks.
The ten-year-old digital bank said it was in the ‘early stages’ of developing the idea.
Monzo is exploring the launch of a digital SIM, which connects to a mobile network without a physical SIM card, and offering monthly contracts.
The company is likely to enter the market as a mobile virtual network operator, reports said.
This refers to companies such as Giffgaff, Voxi, Tesco Mobile and Lebara, which offer mobile services by ‘piggybacking’ off the network provided by big UK operators.
Phone move: Digital bank Monzo is exploring the launch of a digital sim, which connects to a mobile network without a physical sim card, and offering monthly contracts
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