Stocard

Financial Chat
1

I’ve not seen anyone mention this yet (recently). Sorry if there is already a chat ongoing.

Stocard is an app to manage your loyalty cards - so instead of carrying them all around, you can open the app and scan the card through that instead. I’ve personally got Co-op, Holland and Barrett, Waitrose and KFC in the app.

They’ve just launched their own pre-pay virtual ApplePay card. So, through the app you can now get a Mastercard debit account that you top-up and then pay using ApplePay (not sure if it’s also launched on Android?). You don’t get a physical card and I don’t even think you can see your full card number so you can only use it for ApplePay (you don’t get a CVS number either).

It’ll be interesting to see how that develops though. At the moment, I can’t see any reason why I’d bother using the virtual card apart from maybe for budgeting but what would make it actually useful would be if they can link the loyalty cards with the payment card. This would then set Stocard up as a competitor to Flux (available on Monzo) where you don’t need a separate loyalty card to get the benefits of the scheme.

Anyone trying this yet? Have an opinion on it?

2

I saw this on the Stocard update a couple of weeks ago and was similarly intrigued, but quickly came to the same conclusion as you:

It will definitely be interesting to see where this goes. Overall, Stocard is an excellent app, hopefully they have a clear idea of where they’re heading with this!

3

They need to work on their product market fit a bit more

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4

Before you get your hopes up, has been Bink’s vision since 2015 and they haven’t managed to do it yet :cold_sweat:

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5

With psd2 I imagine this is something possible as they could see where you are spending your money and if those shops have loyalty cards link in and give points

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6

Yes if they’re getting to your data that way or by partnering with your bank like Flux, this is a lot more doable.

7

I think the difference between Stocard and Bink seems to be with Stocard you’d be using their own virtual debit card, whereas with Bink it looks like they’re trying to match up your normal payment card with your loyalty cards.

So, they’ll need agreements with all the banks as well as the loyalty card merchants to make Bink work, whereas Stocard don’t and only need the same current agreement with their existing loyalty card partners? Could the app itself convert and generate over into the loyalty scheme the amount spent and points earned?

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8

Ah ok.

Yes I expect it could.

9

Now that’s smart. I’ll take a look.

Took a look. It’s early days, it seems, as both Boots and M&S cards are yet to be properly linked with a payment card. Oh well…later.