1 00:00:03,140 --> 00:00:06,230 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean Aylmer. 2 00:00:06,440 --> 00:00:09,709 Sean Aylmer: We often talk about the importance of data in retail, 3 00:00:09,920 --> 00:00:13,100 Sean Aylmer: particularly as more of our shopping moves online and onto 4 00:00:13,100 --> 00:00:16,070 Sean Aylmer: our smartphones. But one app in particular is trying to 5 00:00:16,070 --> 00:00:19,910 Sean Aylmer: close the loop between digital and physical retail, using the 6 00:00:19,910 --> 00:00:23,120 Sean Aylmer: data gathered online to drive offline sales and it appears 7 00:00:23,120 --> 00:00:26,540 Sean Aylmer: to be working. Mobile wallet Stocard has more than 60 8 00:00:26,540 --> 00:00:30,200 Sean Aylmer: million users across the world and five million in Australia 9 00:00:30,200 --> 00:00:32,990 Sean Aylmer: and New Zealand, making it the biggest shopping app in 10 00:00:32,990 --> 00:00:39,820 Sean Aylmer: the region. Radinck van Vollenhoven, is the Australia/New Zealand Managing Director of Stocard. Radinck, welcome to Fear and Greed. 11 00:00:40,159 --> 00:00:41,420 Radinck van Vollenhoven: Thanks, Sean. Great to be here. 12 00:00:41,540 --> 00:00:44,330 Sean Aylmer: Now, I didn't know much about Stocard and I had 13 00:00:44,330 --> 00:00:47,809 Sean Aylmer: a look at it this morning. Wow. It's easy to use. 14 00:00:47,810 --> 00:00:49,669 Sean Aylmer: That's the number one thing that jumped at me. So 15 00:00:49,670 --> 00:00:52,040 Sean Aylmer: long as you know where your card is, it literally 16 00:00:52,040 --> 00:00:53,479 Sean Aylmer: takes a photo of it and it's done. 17 00:00:53,690 --> 00:00:55,550 Radinck van Vollenhoven: Yeah, that's right. We put a lot of effort into 18 00:00:55,550 --> 00:00:57,290 Radinck van Vollenhoven: trying to make it as quick and easy to use 19 00:00:57,290 --> 00:01:00,020 Radinck van Vollenhoven: as possible for people, especially that first aha moment when 20 00:01:00,020 --> 00:01:02,390 Radinck van Vollenhoven: you download the app, adding all the cards takes about 21 00:01:02,390 --> 00:01:03,820 Radinck van Vollenhoven: a minute and then you're good to go. 22 00:01:03,980 --> 00:01:07,000 Sean Aylmer: Yeah. So what exactly is Stocard and how does it work? 23 00:01:07,490 --> 00:01:10,100 Radinck van Vollenhoven: So we're a mobile wallet and what we try and 24 00:01:10,100 --> 00:01:12,350 Radinck van Vollenhoven: do is we try and make people's lives easier when 25 00:01:12,350 --> 00:01:15,410 Radinck van Vollenhoven: it comes to shopping. So, you know, from digitising all 26 00:01:15,410 --> 00:01:18,290 Radinck van Vollenhoven: the loyalty cards that you own, to buying gift cards, 27 00:01:18,290 --> 00:01:21,229 Radinck van Vollenhoven: to browsing relevant offers that are tethered to your profile, 28 00:01:21,500 --> 00:01:24,709 Radinck van Vollenhoven: lots of different ways that we help shoppers increase the, 29 00:01:24,709 --> 00:01:26,740 Radinck van Vollenhoven: I guess, relevancy of their daily shop. 30 00:01:27,080 --> 00:01:29,839 Sean Aylmer: OK, so you download the app and then you can 31 00:01:29,840 --> 00:01:33,679 Sean Aylmer: put loyalty cards from Flybys to Qantas on it. That's 32 00:01:33,680 --> 00:01:35,450 Sean Aylmer: how it works. Is there a limit to what you 33 00:01:35,450 --> 00:01:36,050 Sean Aylmer: can put on it? 34 00:01:36,620 --> 00:01:39,560 Radinck van Vollenhoven: No, no. We've got about 400 different programs in Australia 35 00:01:39,560 --> 00:01:42,080 Radinck van Vollenhoven: that you can have. And it's basically any retailer that 36 00:01:42,080 --> 00:01:44,539 Radinck van Vollenhoven: you would shop with that has a loyalty card. We 37 00:01:44,540 --> 00:01:46,750 Radinck van Vollenhoven: make that available in a digital format inside the app. 38 00:01:47,209 --> 00:01:49,160 Sean Aylmer: And so for the user, what I've got, I've got my 39 00:01:49,160 --> 00:01:52,280 Sean Aylmer: phone and so I'm paying for my goods and shackles. 40 00:01:52,580 --> 00:01:54,830 Sean Aylmer: And then I just, when they ask about the loyalty card, 41 00:01:54,830 --> 00:01:58,610 Sean Aylmer: you simply use the app on your phone to gather points, 42 00:01:58,610 --> 00:01:59,059 Sean Aylmer: is that right? 43 00:01:59,420 --> 00:02:02,570 Radinck van Vollenhoven: Correct, yeah. So you basically are rewarded for shopping at 44 00:02:02,620 --> 00:02:05,300 Radinck van Vollenhoven: your local retailers, but it makes it really quick and 45 00:02:05,300 --> 00:02:07,490 Radinck van Vollenhoven: easy for people to collect those points because often, you know, 46 00:02:07,490 --> 00:02:09,530 Radinck van Vollenhoven: you're at the checkout, you forget the card, you can't be 47 00:02:09,530 --> 00:02:11,510 Radinck van Vollenhoven: bothered pulling out your wallet or you've left it at 48 00:02:11,510 --> 00:02:13,700 Radinck van Vollenhoven: home and, you know, you always have your mobile phone 49 00:02:13,700 --> 00:02:15,650 Radinck van Vollenhoven: with you. So it's very quick and easy to display 50 00:02:15,650 --> 00:02:17,060 Radinck van Vollenhoven: that card when you're at the point of sale. 51 00:02:17,310 --> 00:02:20,540 Sean Aylmer: OK, so are the retailers, they are encouraging of it, or 52 00:02:20,540 --> 00:02:22,310 Sean Aylmer: do they prefer people to use their own apps? 53 00:02:22,790 --> 00:02:25,130 Radinck van Vollenhoven: Well, I think it depends on the retailer and how 54 00:02:25,130 --> 00:02:27,080 Radinck van Vollenhoven: they're positioned. You know, we work with a lot of 55 00:02:27,080 --> 00:02:29,690 Radinck van Vollenhoven: retailers that are very open to using us. And the 56 00:02:29,690 --> 00:02:31,880 Radinck van Vollenhoven: reason is that it actually encourages people to use the 57 00:02:31,880 --> 00:02:33,980 Radinck van Vollenhoven: loyalty programs. And the more people use it, the better 58 00:02:33,980 --> 00:02:37,100 Radinck van Vollenhoven: data they collect and the more relevant they can be 59 00:02:37,100 --> 00:02:40,760 Radinck van Vollenhoven: in their communications. Yes, some retailers would prefer customers to 60 00:02:40,760 --> 00:02:42,560 Radinck van Vollenhoven: use their own apps, and there's a place for that 61 00:02:42,560 --> 00:02:44,570 Radinck van Vollenhoven: as well. It's just that people don't usually want to 62 00:02:44,570 --> 00:02:46,830 Radinck van Vollenhoven: have 20 or 30 different retail apps on their home screen. 63 00:02:47,100 --> 00:02:48,860 Sean Aylmer: No, the other thing that I noticed this morning when 64 00:02:48,860 --> 00:02:50,730 Sean Aylmer: I was downloading it, I also get all the old 65 00:02:50,780 --> 00:02:54,350 Sean Aylmer: pamphlets you used to get in your letterbox. They're now all online, obviously. 66 00:02:54,350 --> 00:02:56,480 Sean Aylmer: But in my instance, it was a Flybys card that 67 00:02:56,480 --> 00:02:59,180 Sean Aylmer: I was downloading first. And so all the Coles Group 68 00:02:59,180 --> 00:03:02,060 Sean Aylmer: pamphlets appeared as well. And if you're like me and 69 00:03:02,060 --> 00:03:05,419 Sean Aylmer: you actually looked forward to the Aldi Wednesday pamphlet, that's 70 00:03:05,419 --> 00:03:06,579 Sean Aylmer: hours of fun for me. 71 00:03:06,919 --> 00:03:09,650 Radinck van Vollenhoven: Yeah, that's right. And it's great for the planet as well, 72 00:03:09,650 --> 00:03:12,230 Radinck van Vollenhoven: because all those previously, all the paper catalogues have to 73 00:03:12,230 --> 00:03:14,720 Radinck van Vollenhoven: be printed and distributed and now it's just available on 74 00:03:14,720 --> 00:03:16,660 Radinck van Vollenhoven: your phone and one tap of a button. 75 00:03:17,180 --> 00:03:20,180 Sean Aylmer: Radinck, you're spoiling my Aldi fun there. Anyway, you mentioned a 76 00:03:20,180 --> 00:03:22,590 Sean Aylmer: moment ago data. Is that what it's all about? 77 00:03:23,090 --> 00:03:25,400 Radinck van Vollenhoven: Well, I think from a consumer point of view, it's 78 00:03:25,400 --> 00:03:28,370 Radinck van Vollenhoven: about making the shopping experience better. But from a, I guess, 79 00:03:28,370 --> 00:03:30,560 Radinck van Vollenhoven: a merchant point of view, it's about that data that 80 00:03:30,560 --> 00:03:32,810 Radinck van Vollenhoven: we collect in the app and making the offers more 81 00:03:32,810 --> 00:03:34,090 Radinck van Vollenhoven: relevant to the customer. 82 00:03:34,460 --> 00:03:36,180 Sean Aylmer: Okay, so how do you make money? How does Stocard 83 00:03:36,350 --> 00:03:36,920 Sean Aylmer: make money? 84 00:03:37,220 --> 00:03:39,530 Radinck van Vollenhoven: So it's a very similar model to Google as an 85 00:03:39,530 --> 00:03:42,770 Radinck van Vollenhoven: advertising business. Whenever somebody opens up one of those pamphlets 86 00:03:42,770 --> 00:03:45,170 Radinck van Vollenhoven: that you saw earlier. So when you click to engage, 87 00:03:45,200 --> 00:03:47,270 Radinck van Vollenhoven: the retailer pays us a fee, essentially. 88 00:03:47,730 --> 00:03:52,700 Sean Aylmer: Okay, so the actual functionality is a loss leader, but that's 89 00:03:52,700 --> 00:03:54,860 Sean Aylmer: probably overstating it a bit, so you don't make any 90 00:03:54,860 --> 00:03:57,350 Sean Aylmer: money from that. But you do if I'm opening my 91 00:03:57,350 --> 00:03:58,520 Sean Aylmer: Coles pamphlet? 92 00:03:59,300 --> 00:04:01,680 Radinck van Vollenhoven: Correct. Yeah. And if you sign up to, say, new loyalty programs, 93 00:04:01,680 --> 00:04:03,590 Radinck van Vollenhoven: like I think you mentioned one earlier that you're going 94 00:04:03,590 --> 00:04:05,600 Radinck van Vollenhoven: to sign up to, we get a fee for that 95 00:04:05,600 --> 00:04:08,060 Radinck van Vollenhoven: as well. If a customer joins the program inside the app. 96 00:04:08,210 --> 00:04:10,520 Radinck van Vollenhoven: And then we've got a number of different products as well, 97 00:04:10,520 --> 00:04:13,250 Radinck van Vollenhoven: like gift cards, where we make money on when somebody 98 00:04:13,250 --> 00:04:15,230 Radinck van Vollenhoven: goes into the app to buy a gift card, we 99 00:04:15,230 --> 00:04:16,850 Radinck van Vollenhoven: take a clip of that transaction as well. 100 00:04:17,210 --> 00:04:18,980 Sean Aylmer: I think I said in the introduction there that there are 101 00:04:18,980 --> 00:04:22,760 Sean Aylmer: 60 million users and five million in Australia and New Zealand, 102 00:04:22,760 --> 00:04:24,110 Sean Aylmer: what's the growth rate been like? 103 00:04:24,589 --> 00:04:27,470 Radinck van Vollenhoven: Been pretty strong. Like you mentioned, 60 million global users. 104 00:04:27,800 --> 00:04:30,440 Radinck van Vollenhoven: We're adding about a million new app users a month 105 00:04:30,440 --> 00:04:32,600 Radinck van Vollenhoven: in all our markets. That's kind of the growth rate 106 00:04:32,600 --> 00:04:34,970 Radinck van Vollenhoven: that we're seeing. And in Australia, New Zealand, we're at 107 00:04:34,970 --> 00:04:37,339 Radinck van Vollenhoven: about 70 to 80 thousand new app users a month. 108 00:04:37,520 --> 00:04:39,500 Radinck van Vollenhoven: And the funny thing there is that, it actually, a 109 00:04:39,500 --> 00:04:42,410 Radinck van Vollenhoven: lot of the growth is organic. So people recommend the 110 00:04:42,410 --> 00:04:45,049 Radinck van Vollenhoven: app to a friend or a family member and go 111 00:04:45,050 --> 00:04:46,970 Radinck van Vollenhoven: and download it because it's a problem that everyone has. 112 00:04:46,970 --> 00:04:49,220 Radinck van Vollenhoven: You know, if you're shopping regularly, you have all these 113 00:04:49,220 --> 00:04:51,920 Radinck van Vollenhoven: loyalty cards you want to browse offers. Yeah, we provide 114 00:04:51,920 --> 00:04:54,440 Radinck van Vollenhoven: a really seamless, quick solution for that. So a lot 115 00:04:54,440 --> 00:04:55,340 Radinck van Vollenhoven: of the growth is organic. 116 00:04:56,089 --> 00:04:59,780 Sean Aylmer: I mean, you don't have to just believe me and you, Radinck, our producer, 117 00:04:59,779 --> 00:05:03,450 Sean Aylmer: Michael Thompson, he raves about your card and the thing 118 00:05:03,450 --> 00:05:05,760 Sean Aylmer: about it is that that word of mouth seems to 119 00:05:05,760 --> 00:05:07,680 Sean Aylmer: be very strong with Stocard. 120 00:05:07,980 --> 00:05:10,680 Radinck van Vollenhoven: It does. And obviously it's great for us from a 121 00:05:10,680 --> 00:05:13,730 Radinck van Vollenhoven: business point of view because it's less acquisition cost for us. 122 00:05:13,740 --> 00:05:16,050 Radinck van Vollenhoven: But on the other hand, it is a good product 123 00:05:16,050 --> 00:05:17,539 Radinck van Vollenhoven: and I think it is quick and easy to use. 124 00:05:17,550 --> 00:05:19,710 Radinck van Vollenhoven: You don't have to enter any personal details. You just 125 00:05:19,800 --> 00:05:21,690 Radinck van Vollenhoven: download the app, put all your cards in and off 126 00:05:21,690 --> 00:05:21,990 Radinck van Vollenhoven: you go. 127 00:05:22,350 --> 00:05:24,740 Sean Aylmer: So who's using it? What age group are using it? 128 00:05:25,020 --> 00:05:27,870 Radinck van Vollenhoven: So typically based on our data, but also data from Nielsen, 129 00:05:27,870 --> 00:05:30,950 Radinck van Vollenhoven: which we've looked at recently, it's the household decision maker 130 00:05:30,960 --> 00:05:35,190 Radinck van Vollenhoven: and typically that's a female shopper between twenty-five and forty-four 131 00:05:35,550 --> 00:05:37,870 Radinck van Vollenhoven: is kind of the core category for us. But you know, 132 00:05:37,920 --> 00:05:40,440 Radinck van Vollenhoven: it's also younger people, it's also older people. And everyone 133 00:05:40,440 --> 00:05:43,590 Radinck van Vollenhoven: has a smartphone nowadays and most people shop at different retailers. 134 00:05:44,490 --> 00:05:46,200 Sean Aylmer: So what next? I mean, I think you're trying to 135 00:05:46,200 --> 00:05:48,660 Sean Aylmer: build a super app for retail that provides more insights 136 00:05:48,660 --> 00:05:52,650 Sean Aylmer: into customers preferences and data, while obviously making the app 137 00:05:52,650 --> 00:05:55,859 Sean Aylmer: easier to use for shoppers is critical, these sort of 138 00:05:55,860 --> 00:05:59,010 Sean Aylmer: super apps aimed at tying together all these different aspects 139 00:05:59,010 --> 00:06:01,950 Sean Aylmer: of retail. What does it actually mean? What's it look like? 140 00:06:02,070 --> 00:06:02,980 Sean Aylmer: What can it do? 141 00:06:03,480 --> 00:06:05,429 Radinck van Vollenhoven: Yeah, that's a great question. I think if you look 142 00:06:05,430 --> 00:06:08,100 Radinck van Vollenhoven: at Asian markets in the East, have super apps that 143 00:06:08,100 --> 00:06:11,970 Radinck van Vollenhoven: are already very dominant like WeChat and even GoCheck and 144 00:06:11,970 --> 00:06:15,840 Radinck van Vollenhoven: Grab in Southeast Asia. And they've started from a chat 145 00:06:15,839 --> 00:06:20,250 Radinck van Vollenhoven: functionality or they've gone vertical from there. What we try 146 00:06:20,250 --> 00:06:21,690 Radinck van Vollenhoven: to do as an app is we try and make 147 00:06:21,690 --> 00:06:24,570 Radinck van Vollenhoven: that shopping experience really seamless. But you can think of 148 00:06:24,570 --> 00:06:26,730 Radinck van Vollenhoven: other products that we're looking to add on top of that. 149 00:06:26,730 --> 00:06:28,860 Radinck van Vollenhoven: And gift cards is the first one that we've added. But, 150 00:06:29,160 --> 00:06:31,140 Radinck van Vollenhoven: you know, in Europe, we have a payment feature where 151 00:06:31,140 --> 00:06:33,270 Radinck van Vollenhoven: you can actually use the app to transact in every 152 00:06:33,270 --> 00:06:35,070 Radinck van Vollenhoven: store that you go into that has a point of sale. 153 00:06:35,410 --> 00:06:38,000 Sean Aylmer: Is it a buy now, pay later product or is it a credit card? 154 00:06:38,010 --> 00:06:38,839 Sean Aylmer: How's that one work? 155 00:06:38,850 --> 00:06:41,790 Radinck van Vollenhoven: So it's a digital MasterCard attached to either Apple Pay 156 00:06:41,790 --> 00:06:45,060 Radinck van Vollenhoven: or on Android it's built into the phone directly. And 157 00:06:45,060 --> 00:06:46,770 Radinck van Vollenhoven: we just add that. You have an account to feed 158 00:06:46,770 --> 00:06:48,119 Radinck van Vollenhoven: it and then you use it the same way you 159 00:06:48,120 --> 00:06:50,880 Radinck van Vollenhoven: would an Apple pay card in your wallet. So we 160 00:06:50,880 --> 00:06:54,380 Radinck van Vollenhoven: actually become the end time point from the loyalty card through 161 00:06:54,390 --> 00:06:57,510 Radinck van Vollenhoven: to the transaction. And ultimately, that's what we want to provide 162 00:06:57,510 --> 00:07:00,060 Radinck van Vollenhoven: for the customer is a quick and seamless experience for 163 00:07:00,060 --> 00:07:02,700 Radinck van Vollenhoven: people to transact and to research and to show their 164 00:07:02,700 --> 00:07:03,789 Radinck van Vollenhoven: loyalty cards and collect points. 165 00:07:04,290 --> 00:07:06,690 Sean Aylmer: So have you got any tie up with any Australian 166 00:07:06,690 --> 00:07:08,070 Sean Aylmer: payments provider at this point? 167 00:07:08,400 --> 00:07:10,680 Radinck van Vollenhoven: We're looking into that currently, so we hope to launch 168 00:07:10,680 --> 00:07:13,660 Radinck van Vollenhoven: the product towards the end of this calendar year. So, yeah, 169 00:07:13,680 --> 00:07:15,210 Radinck van Vollenhoven: it's something that's a work in progress. 170 00:07:15,780 --> 00:07:18,150 Sean Aylmer: That's likely to be a credit or debit card? 171 00:07:18,740 --> 00:07:20,670 Radinck van Vollenhoven: Correct. Yeah, it'll be a virtual debit card is the way 172 00:07:20,670 --> 00:07:21,310 Radinck van Vollenhoven: that we'll structure it. 173 00:07:21,560 --> 00:07:24,390 Sean Aylmer: Okay. Stay with me, Radinck. We'll be back in a minute. 174 00:07:29,250 --> 00:07:33,750 Sean Aylmer: My guest this morning is Radinck van Vollenhoven, Australia/New Zealand managing director 175 00:07:33,750 --> 00:07:36,630 Sean Aylmer: of Stocard. So the big issue that will come up 176 00:07:36,630 --> 00:07:39,690 Sean Aylmer: when people talk to me about this is security, because 177 00:07:39,690 --> 00:07:44,940 Sean Aylmer: there's so much noise around cybersecurity and Stocard must store a 178 00:07:44,940 --> 00:07:47,280 Sean Aylmer: hell of a lot of personal data online. How do 179 00:07:47,280 --> 00:07:47,940 Sean Aylmer: you manage that? 180 00:07:48,480 --> 00:07:50,040 Radinck van Vollenhoven: That's a great question as well, I think. We're a 181 00:07:50,040 --> 00:07:53,940 Radinck van Vollenhoven: German business so we're headquartered over in Frankfurt, Germany, and 182 00:07:53,940 --> 00:07:57,200 Radinck van Vollenhoven: we are fully GDPR (General Data Protection Regulation) compliant, which means that we don't, I guess, 183 00:07:57,210 --> 00:07:59,580 Radinck van Vollenhoven: share any of the personal data that's stored inside the 184 00:07:59,580 --> 00:08:03,750 Radinck van Vollenhoven: app externally. And for marketing purposes, the app stores and 185 00:08:03,750 --> 00:08:06,420 Radinck van Vollenhoven: uses data, but it doesn't go to any external partner, 186 00:08:06,420 --> 00:08:08,940 Radinck van Vollenhoven: if you will. So it is all at an aggregated, 187 00:08:08,980 --> 00:08:11,790 Radinck van Vollenhoven: anonymised level that we use the data inside the app. 188 00:08:12,240 --> 00:08:16,440 Sean Aylmer: So the stores, using the Flybuys example, Coles isn't getting 189 00:08:16,440 --> 00:08:17,760 Sean Aylmer: the data from you? 190 00:08:18,240 --> 00:08:21,060 Radinck van Vollenhoven: No. So it's essentially just a mirroring of the usage 191 00:08:21,060 --> 00:08:22,500 Radinck van Vollenhoven: of the card. Like if you were to use a 192 00:08:22,500 --> 00:08:25,440 Radinck van Vollenhoven: plastic card inside a Coles, that's essentially the only data 193 00:08:25,440 --> 00:08:28,560 Radinck van Vollenhoven: they get from us, is someone mirroring that usage from 194 00:08:28,560 --> 00:08:31,530 Radinck van Vollenhoven: a digital format. So whether you're using the Flybuys app, 195 00:08:31,530 --> 00:08:35,099 Radinck van Vollenhoven: the Stocard app or the MasterCard, the data for Coles 196 00:08:35,100 --> 00:08:37,189 Radinck van Vollenhoven: or for any of the other brands is very similar. 197 00:08:37,590 --> 00:08:39,600 Sean Aylmer: Right. You're going to end up with a lot of 198 00:08:39,600 --> 00:08:42,780 Sean Aylmer: data because if you can actually gather lots of retailers 199 00:08:42,780 --> 00:08:46,170 Sean Aylmer: onto Stocard, you're going to have enormous amounts of data. 200 00:08:46,860 --> 00:08:49,500 Radinck van Vollenhoven: Correct. Yeah, we have provided, I think, a very seamless 360 201 00:08:49,500 --> 00:08:51,989 Radinck van Vollenhoven: degree view of the customer. So I think from a 202 00:08:51,990 --> 00:08:54,540 Radinck van Vollenhoven: merchant's point of view, we're a very interesting platform because 203 00:08:54,540 --> 00:08:57,069 Radinck van Vollenhoven: we don't just see what happens inside a Coles or inside a K-Mart. 204 00:08:57,600 --> 00:08:57,950 Sean Aylmer: Yeah. 205 00:08:57,960 --> 00:09:00,030 Radinck van Vollenhoven: We also see if that customer shops at Woolies or 206 00:09:00,030 --> 00:09:01,860 Radinck van Vollenhoven: whether they go to Myer or whether they go to Priceline 207 00:09:01,860 --> 00:09:03,660 Radinck van Vollenhoven: or whether they go to any of the other retailers 208 00:09:03,660 --> 00:09:07,319 Radinck van Vollenhoven: and transact. So I guess from a competitive standpoint, we 209 00:09:07,320 --> 00:09:09,640 Radinck van Vollenhoven: have a very compelling data set there. And, you know, 210 00:09:09,780 --> 00:09:12,510 Radinck van Vollenhoven: we will never supply that directly to a competitor, but 211 00:09:12,510 --> 00:09:14,550 Radinck van Vollenhoven: we do it in an aggregated way where we give them, 212 00:09:14,550 --> 00:09:17,490 Radinck van Vollenhoven: I guess, anonymised insights into how people are behaving and 213 00:09:17,490 --> 00:09:20,070 Radinck van Vollenhoven: how their customers are shopping. So, yeah, I think it's 214 00:09:20,070 --> 00:09:22,590 Radinck van Vollenhoven: a great platform to be able to give insights back 215 00:09:22,590 --> 00:09:23,880 Radinck van Vollenhoven: to those merchants that we work with. 216 00:09:24,030 --> 00:09:26,670 Sean Aylmer: So over the last 10 years or so, a lot 217 00:09:26,670 --> 00:09:28,980 Sean Aylmer: of the sharing of data have been tie ups between 218 00:09:29,610 --> 00:09:31,890 Sean Aylmer: News Corp and Qantas, for example, did a tie up where 219 00:09:31,890 --> 00:09:35,880 Sean Aylmer: they shared data many years ago, whereas those were almost like 220 00:09:36,090 --> 00:09:39,990 Sean Aylmer: bilateral arrangements, whereas this is like a multilateral arrangement where 221 00:09:40,020 --> 00:09:42,500 Sean Aylmer: there's so much data all in one place. 222 00:09:42,960 --> 00:09:44,880 Radinck van Vollenhoven: Yeah, that's right. But the beauty is we don't have 223 00:09:44,880 --> 00:09:47,580 Radinck van Vollenhoven: to share it directly with anyone. We hold the, I guess, 224 00:09:47,580 --> 00:09:50,800 Radinck van Vollenhoven: the data in our systems and we provide it to 225 00:09:50,820 --> 00:09:53,190 Radinck van Vollenhoven: partners that we work with at an aggregated level. So 226 00:09:53,190 --> 00:09:56,220 Radinck van Vollenhoven: it's very rich data and it provides a full view 227 00:09:56,220 --> 00:09:58,949 Radinck van Vollenhoven: of the shopping experience that customers have in the market. 228 00:09:59,390 --> 00:10:01,500 Sean Aylmer: That's very exciting. So where will you be in five years? 229 00:10:02,400 --> 00:10:04,680 Sean Aylmer: Running the world, Radinck, running the world? 230 00:10:05,010 --> 00:10:08,199 Radinck van Vollenhoven: Yeah, who knows? I mean, hopefully we will be above 231 00:10:08,200 --> 00:10:11,010 Radinck van Vollenhoven: one hundred million users, we'll have a full payments feature. 232 00:10:11,460 --> 00:10:14,280 Radinck van Vollenhoven: We're looking to add potentially other products like Insurance's when 233 00:10:14,280 --> 00:10:17,309 Radinck van Vollenhoven: you transact either online or offline, we're looking to add 234 00:10:17,309 --> 00:10:20,550 Radinck van Vollenhoven: things like cash back to the card they use, potentially 235 00:10:20,550 --> 00:10:22,320 Radinck van Vollenhoven: buy now, pay later products. So there's a lot of 236 00:10:22,320 --> 00:10:24,690 Radinck van Vollenhoven: different ways that we could go from just being a 237 00:10:24,690 --> 00:10:28,170 Radinck van Vollenhoven: loyalty card storage feature today to being a full end 238 00:10:28,170 --> 00:10:30,570 Radinck van Vollenhoven: to end mobile wallet. And ultimately, that's where we want 239 00:10:30,570 --> 00:10:32,640 Radinck van Vollenhoven: to get to and at the same time provide a 240 00:10:32,640 --> 00:10:35,189 Radinck van Vollenhoven: great ecosystem to the partners that we work with and 241 00:10:35,190 --> 00:10:36,809 Radinck van Vollenhoven: a great experience for the shopper ultimately. 242 00:10:37,230 --> 00:10:40,680 Sean Aylmer: You said that you're out of Germany originally. Stocard originated in Germany, 243 00:10:40,679 --> 00:10:43,679 Sean Aylmer: but you're around the world now. Is it very different in 244 00:10:43,679 --> 00:10:47,250 Sean Aylmer: different jurisdictions in how you can do this? Because you 245 00:10:47,250 --> 00:10:49,590 Sean Aylmer: talked about Asia. Asia has very different rule of law, 246 00:10:49,590 --> 00:10:51,780 Sean Aylmer: for example, to Australia, which I think we get caught 247 00:10:51,780 --> 00:10:55,189 Sean Aylmer: up in sometimes. Is it difficult to transfer across boundaries? 248 00:10:55,650 --> 00:10:58,829 Radinck van Vollenhoven: It depends. I mean, we're predominantly active in Western markets. I mean, 249 00:10:58,980 --> 00:11:02,010 Radinck van Vollenhoven: the difference is that you have different retailers in different jurisdictions. 250 00:11:02,010 --> 00:11:02,360 Sean Aylmer: Yeah. 251 00:11:02,370 --> 00:11:04,890 Radinck van Vollenhoven: So we do have to adapt the programs that we 252 00:11:04,890 --> 00:11:07,260 Radinck van Vollenhoven: offer into different markets. So we have a, I guess, 253 00:11:07,260 --> 00:11:10,980 Radinck van Vollenhoven: a card features team that is involved in customising those 254 00:11:10,980 --> 00:11:13,800 Radinck van Vollenhoven: cards for different markets and customising the features. But on 255 00:11:13,800 --> 00:11:15,810 Radinck van Vollenhoven: the whole, the app is quite similar because we do 256 00:11:15,809 --> 00:11:17,940 Radinck van Vollenhoven: focus on the Western developed markets. 257 00:11:18,420 --> 00:11:20,430 Sean Aylmer: Well, I'm a fan, Radinck. Thank you for talking to 258 00:11:20,429 --> 00:11:21,329 Sean Aylmer: Fear and Greed this morning. 259 00:11:21,690 --> 00:11:23,220 Radinck van Vollenhoven: Pleasure. Great to talk to you, Sean. 260 00:11:23,670 --> 00:11:24,209 Sean Aylmer: That was Radinck van Vollenhoven, Australia/New Zealand Managing Director of Stocard. 261 00:11:28,530 --> 00:11:30,540 Sean Aylmer: This is the Fear and Greed Daily Interview. Join me 262 00:11:30,540 --> 00:11:33,359 Sean Aylmer: every morning for the full Fear and Greed podcast with 263 00:11:33,360 --> 00:11:35,969 Sean Aylmer: all the business news you need to know. I'm Sean Aylmer. 264 00:11:36,179 --> 00:11:36,930 Sean Aylmer: Enjoy your day.