- Stocard, the leading European mobile wallet with over 50 million users, launches its payment functionality Stocard Pay in Germany, France, Italy and the Netherlands
- Users get a free virtual payment card for mobile payments on Android and Apple Pay on iOS as well as for online payments
- The payment feature is the first financial service launched by Stocard and will be joined by other innovations over the next months
Mannheim, November 27, 2020 – Stocard, the leading European mobile wallet, today launches its mobile payment feature Stocard Pay in four other European countries: Italy, France, Germany and the Netherlands. The Fintech company has already launched its payment functionality in the UK in June 2020. Stocard Pay complements the end-to-end shopping experience that the Stocard app offers. Over 50 million people are already using Stocard for their daily shopping to manage their loyalty cards and receive coupons and offers from their favorite brands directly in their Stocard app with nearly 1.7 billion POS-transactions per year. The company is planning to launch more “on the go” financial services in the upcoming months.
With Stocard Pay every user can easily get a virtual Mastercard directly in the app. The registration for the new payment function takes only one minute, digitally and without paper documents. From now, Stocard users can not only add all loyalty cards but also all bank cards into the app. Visa and Mastercard are currently supported. Stocard users save on foreign currency fees, which allows payments in every currency worldwide without being charged any FX fees.
In addition to mobile payments at the points of sale, Stocard enables customers to pay online with their Stocard payment card. To create a seamless customer experience, Android users have access to the virtual card directly in the Stocard app. For iOS devices, Stocard supports Apple Pay, which brings the Stocard payment card to Apple Wallet. Users transfer money to their Stocard account via IBAN (note that in the UK this is account number and sort code) or all common debit and credit cards. Thanks to the auto-top-up function, users don’t have to reload their account manually, instead the Stocard account can be refunded automatically once the balance drops below a certain threshold.
Björn Goß, CEO and co-founder of Stocard, comments: “The launch of Stocard Pay in four more European markets is a major step for Stocard to bring the future of banking to our more than 50 million users. As our wallets are moving to our smartphones, the digital wallet is becoming the central hub in our lives for anything around money, shopping, and banking. The future of banking will look very different from what it is today. The consolidation of shopping, payments and financial services in the digital wallet that we observe in Asia, is likely to happen in Europe as well.
Stocard Pay is the first major feature with several more to be launched over the next months on our road to create this future of shopping and banking through Europe’s leading mobile wallet for everyone.”
To offer mobile payments, across Europe, Stocard partners with international experts of the payments industry. Amongst them are Moorwand, issuing the virtual Stocard-Mastercards, the processor GPS and dejamobile for handling the contactless payment process on Android devices.
Neil Harris, Group Chief Commercial Officer at Global Processing Services (GPS), commented: “At GPS, we are excited to support Stocard in the next leg of its evolution with Stocard Pay. We’re focused on the growth and success of our customers, so powering Stocard to go beyond loyalty and promotions in providing over 50 million digital accounts makes us incredibly proud. Unlike many fintechs, Stocard is a strictly mobile-first deployment with no physical card. With GPS’ help, Stocard Pay offers a seamless user experience that makes it simple for customers to now add a digital card and account into their existing mobile wallet at the click of a button. This development means a win for Stocard users, who can collect points with every spend, and a win for retailers who will receive incremental business through their loyalty programmes.”
About Stocard
Stocard is Europe's leading mobile wallet with more than 50 million users and actively shaping the future of shopping and banking. Digital management of loyalty cards and mobile payment are just two of the functions of the Stocard app.
The aim is to expand the offer with innovative "on the go" financial services, thus making the physical wallet obsolete. Stocard was founded in Mannheim in 2012 by Björn Goß, David Handlos and Florian Barth. In addition to its headquarters in Mannheim, Stocard is represented in Sydney, Milan, Rotterdam, Paris and London. The company has a total of 75 employees.
For further information please visit https://stocardapp.com
