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.”