Nordea and Stockmann to start card cooperation in Finland
A long-term card and marketing cooperation agreement between Nordea
and Stockmann is to start in Finland. The new Stockmann MasterCard,
which is free of annual charge, will be launched this month.
Customers will now get access to a competitive and versatile card
that combines the benefits offered by Stockmann and Nordea.
Nordea and Stockmann previously signed an agreement on the sale of
the credit card and customer financing stock linked to Stockmann's
loyal customer programme to Nordea in Finland, Latvia and Estonia.
The long-term card and marketing agreement also aims to develop
Stockmann's card services.
New and changing benefits for customers
There is no annual fee for Stockmann MasterCard, which is linked to
Stockmann's loyal customer programme. The card combines the benefits
of Stockmann's loyal customer status, Nordea's expertise in cards and
the qualities of an international payment card. The customers will be
able to enjoy various benefits jointly offered by Nordea and
Stockmann. Moreover, Stockmann MasterCard is also available as a
combination card that can be linked to a Nordea bank account.
- Cooperation between the two strong companies means new benefits and
greater flexibility for customers. Along with this cooperation, we
can join Stockmann's loyal customer programme and further extend our
card selection. In addition, we can offer our customers superior
benefits, says Pekka Nuuttila, Head of Regional Bank
Stockmann MasterCard-holders who do not have a bank account in Nordea
can join the Netbank card service, which enables them to follow up
transactions on their credit card and edit the credit features
similarly to Nordea's customers who currently use the service via
The aim is to launch the Stockmann MasterCard in Latvia towards the
end of 2008 and in Estonia in early 2009.
Nordea strengthens its leadership position
In the card cooperation, Nordea will be responsible for the financing
of Stockmann MasterCards, for card issues and card services.
Naturally, the two companies' customer systems will remain separate.
Stockmann MasterCard will replace Stockmann's current account card.
The new agreement will further strengthen Nordea's position as the
market leader in credit cards in Finland. It will also foster growth
potential in Latvia and Estonia. Stockmann's loyal customers total
over 1.6 million.
For further information:
Pekka Nuuttila, Head of Regional Bank Helsinki-Uusimaa, +358 9 165
Anita Männikkö, Project Manager, +358 9 165 88108
Susanna Aarnio, Group Communications, +358 9 165 42328, +358 50 61749