Moorwand, which aims to transform compliance into an enabler
of innovation, today announced that it has been selected by German fintech
Stocard for issuing and BIN sponsorship services in the UK, France, Germany,
Netherlands and Italy.
Stocard allows
consumers to manage all loyalty cards, coupons and offers from their favorite
brands in one app and save money with every purchase. To offer a seamless
shopping experience, the company partners with more than 6,000 retailers.
With over 50 million
customers globally, Stocard is looking to offer this end-to-end experience in
additional European markets. Crucial to its growth strategy is making it quick
and easy for Stocard users to take advantage of offers from their favorite
merchants for everyday purchases and complete the experience by making payments
directly within the app.
By partnering with
Moorwand to provide a virtual card linked to its Mobile Wallet, Stocard users
can have the best of both worlds. Today, Stocard users across Europe can make
fast and simple payments. while seamlessly accruing and redeeming loyalty
points from leading merchants.
Stocard is using Moorwand’s E-Money license to issue its
virtual debit card, powered by Mastercard, and Global Processing Services is
the issuer processor for all transactions. The virtual card is accessible to
Stocard’s Mobile Wallet. To create a seamless customer experience, Android
users have access to the virtual card directly in the Stocard app through host
card emulation (HCE) technology. For iOS devices, Stocard supports Apple Pay.
“Stocard is
simplifying the management of coupons and loyalty cards for both, customers and
merchants. By helping users to enjoy
loyalty reward programmes more easily, Stocard is in turn helping merchants
engender loyalty from their customers,” said Luc Gueriane, Chief Commercial
Officer, Moorwand. “With the creation of a frictionless customer experience
through a combination of a first-class payment experience and its unique
approach to merchant loyalty schemes, Stocard is taking the market by storm. We
look forward to supporting the business on its trajectory of accelerated
growth.”
“With Moorwand we are
partnering with a well established firm to support us in bringing the future of
banking with Stocard Pay to our 50 million customers. The fast and
uncomplicated cooperation allowed us to achieve this multinational launch in a
very short time,” said Bjoern Goß, CEO and Founder, Stocard. “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. Together with
our excellent partners we will together form a future of this through Europe’s
leading mobile wallet for everyone.”
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