Over the last eleven months, M Bank cardholders transacted ₮239.7 billion — and only ₮5.58 billion of it was acquired on our own POS network. The rest paid interchange to competitor banks. M idea is the intervention that brings it back.
The answer cannot be organic. The ON-US share has crept from 1.07% in April 2025 to 3.21% in February 2026 — real progress, but an order of magnitude short of target at the current slope. A step-change requires a step-change intervention: something that simultaneously pulls cardholders toward M card tender and pushes merchants to steer them there.
M idea is that intervention. A 9-box mystery reward for cardholders triggered at ₮50,000+. A daily-settled MDR rebate for merchants that hit their monthly ON-US growth target. A monthly lottery to sustain attention. All contained within a hard ₮500 million budget envelope — with unit economics engineered to remain net-positive even at peak participation.
Eleven months of data, one conclusion: M Bank's card book has been structurally misaligned since April 2025. Here's the anatomy of the leak, and why it won't close on its own.
Read chapter 01 →Nine boxes. One ₮50K trigger. A tiered merchant rebate settled daily. The full mechanic laid out — plus an interactive demo of what the cardholder actually sees at the point of sale.
Read chapter 02 →The math that makes it all defensible. Gross margin per qualifying transaction, engineered box EV, and why the avoided-interchange term is the hidden profit lever of the entire programme.
Coming in next drop →