Stocard launches free buyers’ protection with Stocard Pay

By Megha Bhattacharya

European mobile wallet Stocard today announced the launch of a free buyers’ protection for all Stocard Pay users. The company has partnered with Moonshot, the B2B2C InsurTech dedicated to e-merchants created by Societe Generale Insurance. All purchases made, both, online and offline, with the virtual card are insured for 45 days and for an amount up to €250.

The company stated that products paid with Stocard Pay are protected against damage, breakage and theft. Clients can report the damage directly through the company’s app. The offer will be rolled out progressively to all Stocard Pay users. Stocard Pay and the product protection is available in Germany, France, Italy, the Netherlands and the United Kingdom for, both, Android and iOS users.

Björn Goß, CEO and co-founder of Stocard said, “We’re very proud to offer a free product protection to all our Stocard Pay users. With the launch of Stocard Pay last year, and the expansion to online payments a few months later, we already made a huge step forward on our road to a comprehensive mobile wallet. Offering a free insurance now, adds another value for our customers and brings us nearer to our goal of becoming Europe‘s financial super app. You could already ask yourself: „why should I use any other card?“, but it is only a glimpse to the future of what users can expect: enriching services around their daily shopping; and in collaboration with our retail partners, we will be able to offer even more value and products in the future”.

Recently, Stocard selected Moorward for issuing and BIN sponsorship services in the UK, France, Germany, Netherlands and Italy. The company will be leveraging Moorwand’s e-money licensed to issue its Mastercard-powered virtual debit card. Android users have access to the virtual card directly in the Stocard app through host card emulation (HCE) technology. For iOS devices, the German FinTech supports Apple Pay.