Stocard, a leading mobile wallet app, has announced that it will use recently secured funding to expand its reach in the Australian market and launch a new mobile payment function.
While digital wallets have been around in Australia for some time, what makes Stocard’s offering unique to existing mobile wallet apps, is the functionality that allows users to store all their loyalty cards easily in their smartphone, rather than in their wallets.
Loyalty programs are becoming increasingly popular for Aussie shoppers, with 50% saying they’d be more likely to spend with a store that offers a loyalty program than with one that doesn’t, according to Nielson’s latest Global Loyalty Sentiment Survey.
Shoppers can also collect points and rewards, see their points balances and transactions in real-time and cash in on personalised offers from retailers, all through the Stocard app.
And Stocard is soon to join the ranks of digital payment platforms like Apple Pay, Visa Checkout and MasterCard MasterPass with its new mobile payment feature, to be launched in 2017. This is designed to take users through the entire shopping experience within the app, from browsing for a deal to paying for their purchase.
Banks who currently offer smartphone payment systems include Commbank, which has its own app, and ANZ and American Express, both of which have linked their credit and debit cards to the Apple Pay app.
“To be successful, a mobile wallet needs to accompany the user throughout the whole customer journey; mobile payment is just one component,” said Radinck van Vollenhoven, Country Manager of Stocard Australia and New Zealand.
“Our goal is to expand our position in the market and actively shape the future of how people discover and purchase products and services through their mobile device.”
Stocard has 12 million users worldwide, 1.5 million of which are Aussies, and they can use the app to access loyalty programs from over 4,000 brands, including Woolworths, Coles, Myer and Priceline.