German mobile wallet startup Stocard has announced a new mobile payment feature as well as its official launch in the UK, where the loyalty app already has 3 million users.
The app allows consumers to keep all their loyalty cards in one place, and even reminds them to use the cards when they’re physically near relevant stores, such as Tesco, Boots and Marks & Spencer. In a press release, the company claims its global user base is growing by more than a million users month over month.
“The future of retail and of banking will look way more similar to what we are already seeing in Asia with the likes of Alipay rather than what European banks are currently doing,” says Stocard founder and CEO Björn Goß. “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.”
Founded in Mannheim in 2012, the fintech startup has raised just over $31 million, according to Crunchbase, including a $20 million round two years ago, from investors such as Macquarie Capital, Shortcut Ventures, ALSTIN Capital, rocketship.vc, and High-Tech Grunderfonds.