Wirecard and Stocard collaborate to launch mobile payment feature and drive contactless payment adoption
Aschheim (Munich) (ots)
- Stocard users can now make payments via the Stocard app using a virtual Mastercard
- Wirecard provides both issuing and acquiring services to embed payment functionality into Stocard's loyalty product
- The new mobile feature offers users a seamless way to pay
Wirecard, the global innovation leader for digital financial technology, is collaborating with Stocard, the leading mobile wallet and one of the largest B2C European FinTechs, to launch a new mobile payment feature in the Stocard app. The announcement comes as Stocard reaches 50 million users worldwide. Starting today, UK-based Stocard users can pay with their app via a virtual Wirecard-issued Mastercard card, an option that will be rolled out across Europe later this year. Not only will Stocard benefit from Wirecard's bespoke Banking-as-a-Service solution to launch this new functionality, Wirecard is also providing the acquiring service behind the wallet, allowing users to load funds quickly and effortlessly by adding their bank cards to the app.
Through the new mobile wallet solution, Stocard users can now make contactless payments in-store and online. Wirecard's research found that contactless payments are booming across Europe: More than half of British, French and German respondents (57%) report using contactless payment methods more frequently today than before the spread of COVID-19. Over three-quarters (78%) plan to continue making contactless payments even after the crisis.
Stocard was founded in 2011 and is one of the largest B2C startups in Europe in terms of user base. The app allows users to store all their loyalty cards on their smartphones, discover good deals at their favorite retailers, search for and activate coupons, which are applied automatically at the checkout with just one click, and see their transactions and points balance in real time. In 2019, shoppers made 1.7 billion purchases with the app, spending close to EUR 40 billion annually.
"The launch of our mobile payment feature is a major step for Stocard globally," said Björn Goß, Stocard Founder and CEO. "As our wallets are moving to our mobile phones, the digital wallet is becoming the central hub in our lives for anything around money, shopping, and banking. The future of retail and of banking will look more similar to what we are already seeing in Asia with the likes of Alipay, rather than what European banks are currently doing. This consolidation of shopping, payments and financial services in the digital wallet will happen in Europe as well. We are working closely with our retail partners to shape this future."
"The partnership with Stocard is an exciting development in the move towards a cashless society. With 50 million users, Stocard's success demonstrates just how much consumers are shifting towards mobile wallets and cashless payments. We are excited to be collaborating both on the issuing and acquiring side of the payment flow thereby offering consumers a seamless user experience. In the long-term we hope to work with Stocard as they look to offer additional services such as Point of Sale lending and top up payments on a global scale," added Kilian Thalhammer, EVP Product Management at Wirecard.
The cooperation between Wirecard and Stocard is another example of Wirecard providing its Banking-as-a-Service infrastructure for leading FinTechs within the payment ecosystem. Payments through the Stocard mobile app are accepted everywhere with just a tap of the phone on the terminal. By allowing users to bundle payments with rewards and loyalty points, the app has the potential to transform in-store shopping experiences for the better. The latest payment feature unlocks the app's full potential: bringing financial services and shopping together in one place.
About Wirecard:
Wirecard (GER:WDI) is one of the world's fastest growing digital platforms in the area of financial commerce. We provide both business customers and consumers with a constantly expanding ecosystem of real-time value-added services built around innovative digital payments by using an integrated B2B2C approach. This ecosystem concentrates on the areas payment and risk, retail and transaction banking, loyalty and couponing, data analytics and conversion rate enhancement in all sales channels (online, mobile, POS). Wirecard operates regulated financial institutions in several key markets and holds issuing and acquiring licenses from all major payment and card networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and TecDAX, ISIN DE0007472060). Find out more at www.wirecard.com.
About Stocard:
Stocard lets users store all their loyalty cards in one place - on their smartphones. With fifty million global users, Stocard is the leading European mobile wallet app and combines smart technology with a maximum of usability. A simple scan feature lets users scan every card and add it digitally to the app. Moreover, targeted offers from retailers can be received by the users. In order to implement a complete mobile wallet, the new feature allows users to pay directly with the app, thanks to a virtual Mastercard. Stocard was founded in May 2011 in Mannheim, Germany, where it is still based. They have since opened international offices in Australia, Italy, France and the Benelux countries. www.stocardapp.com
Contact:
Wirecard media contact:
Wirecard AG
Jana Tilz
Tel.: +49 (0) 89 4424 1363
Email: jana.tilz@wirecard.com
Stocard media contact:
Stocard
Allison Queiroz
Email: allison@thirdeyemedia.press
Original content of: Wirecard AG, transmitted by news aktuell