Finance Forward has reported that Klarna, the Swedish payment giant, has purchased Stocard.
Stocard launched just ten years ago after co-founder David Handlos spent time in Australia and collected plastic loyalty cards as at every retailer he visited. Stocard was his lightbulb moment when he pondered on a better way to approach loyalty that didn’t require an ever-bulging wallet.
Stocard recently commenced their journey into payments. In 2020, they issued a Mastercard-backed virtual card to their 3 million UK customers, with plans to roll out the feature across Europe and then into Australia and other countries.
The take-over by Klarna will certainly take that journey in a different direction, with Klarna’s Buy Now Pay Later product likely to be woven into Stocard’s experience.
Irrespective of what happens, David Handlos and co-founder partner Björn Goß are going to be able to enjoy many more long holidays to Australia in the future.
Philip Shelper, CEO of Loyalty & Reward Co, has many years’ experience within the loyalty industry, including roles at Qantas Frequent Flyer and Vodafone. Loyalty & Reward have consulted to over 60 major brands in the past eight years.
Phil is a member of several hundred loyalty programs, and a researcher of loyalty psychology and loyalty history, all of which he uses to understand the essential dynamics of what makes a successful loyalty program.
Phil is the author of ‘Loyalty Programs: The Complete Guide’, the most comprehensive book on loyalty programs available.
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