Humla launches payment card that rewards

Earlier this spring, fintech company Humla announced that it is developing financial services for the retail of the future. Now, the company has launched a payment card that rewards “financially responsible behavior.” The collaboration includes some of the country’s largest chains, including Kicks, Press office, Apohome and others.

New payment players have taken control of an increasing portion of the retail customer experience, generating a wealth of data insights into customer transactions. By using these insights, payment services have been able to understand and build relationships with the end customer in a way that retailers themselves have not been able to.

It is based on this insight that Humla was started. The Bumblebee Card gives retailers access to a new data-driven marketing platform with a 360-degree view of the customer, where they can interact directly with customers and reward their loyalty, improving retailers' tools for building long-term customer relationships.

Collaboration with some of Sweden's largest retail chains

To reward users with attractive benefits, we collaborate Bumblebee with some of Sweden's leading retailers, both domestically and internationally Axel Johnsongroup. While the retailers are responsible for the rewards, the The Bumblebee Card loyalty for their brands and drive up-selling. Humla's partners have more opportunities to interact with, and market themselves to, customers between purchases. The collaborations are also a unique opportunity for Humla to eventually develop more innovative solutions that further strengthen the retail business for its partners.

– We want to build really good consumer financial products that enhance the customer experience and strengthen our retail partners. With The Bumblebee Card we allow retailers to take advantage of the benefits that come with offering financial services to their customers, such as access to new data insights, personalized marketing and loyalty tools, without the complexity of doing it yourself. For customers, it means a way to gain better control over their personal finances while also taking advantage of benefits that were previously only available to credit card users, says Emil Berg Eckerrot, CEO of Humla.

Wants to change the industry – rewards financially responsible behavior

Humla sees that loyalty programs linked to debit cards have the potential to fundamentally change the industry. Debit cards account for 84% of card purchases in Sweden, but still offer few benefits for their users. Instead, it is credit cards that offer different types of loyalty and incentive programs, but these are often expensive and maximize credit exposure, which increases the risk of overconsumption and impaired control over personal finances. Humla rewards financially responsible behavior and also gives users the opportunity to do good by donating their rewards to various impact initiative who work on socially important issues such as integration, mental illness and humanitarian aid.