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Lunar and SAS partner for debit card

Danish neobank Lunar has launched a debit card with Scandinavian Airlines (SAS) that allows users to gain and use EuroBonus points.

3 comments

Lunar and SAS partner for debit card

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

EuroBonus points can be used for SAS flights and travel perks such as hotels, car rentals, and more. The move marks a strategic partnership for Lunar to cement its place in Scandinavia, by joining forces with a major airline for the region.

Through the new debit card, both new and existing users of the EuroBonus programme will be able to gain points through everyday purchases on the Lunar app. The debit card will be available to all Lunar users in Scandinavia both physically and via digital wallet.

Users can gain 8 EuroBonus points for every 100 DKK spent using the card, and new Lunar customers will gain 3000 welcome points, with the first 10,000 getting 6000.

Speaking exclusively to Finextra on the benefits of the new partnership, Ken Villum Klausen, CEO and founder of Lunar commented: “It's a true Scandinavian brand; Danes feel it's Danish, and Swedes feel it's Swedish. It's really makes us feel that it's a local brand, since we are currently live in Scandinavia. Being able to partner with one of the most well-known Scandinavian brands is obviously a big thing for us, because SAS has enormous brand value. Joining forces with another Scandinavian brand is a good opportunity for two companies with a Scandinavian focus to partner up.”

He adds that Lunar is “laser-focused” on the Nordic region, and due to the Nordic’s defensive infrastructure it provides the challenger with an opportunity to grow with little competition. Klausen states that the Nordic banking landscape is likely one of the most unique and profitable on the planet.

On the EuroBonus points programme, Klausen points out the move to debit from credit: “They have 5 million members already in Scandinavia. A lot of those members are running on credit cards now, which has been really great for Scandinavian airlines in the past, but we can also see there's a massive need now for opting out of credit, and tapping more into debit cards.

“I think the majority of the airline programmes we have in the region are old credit, mainly connected through credit cards. This is also Scandinavian Airlines’ first endeavour into debit at all, so it is a unique proposition. If you look to other territories, the US airline miles are predominantly connected to credit cards. So not only in the Nordics, but also elsewhere this is very unique, to give users an opportunity to obtain miles and points with EuroBonus even though it's a debit proposition.”

Klausen noted that the challenger bank’s ambition for the next year will to be continue driving growth across Denmark, Sweden, and Norway.

“Within the next six months, we have unique partnerships coming up with some of the world's largest fintechs who are now running on Lunar Infra in the Nordic Region, to offer their merchants and customers access to Nordic payment rails and an infrastructure. On the other side of summer there will be more major announcements to look forward to with very big companies in the industry.”

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Comments: (3)

A Finextra member 

I there can be risks in being Laser focused on something....   but not if its a geography.....   You can miss a lot if you are not fully aware of the world around you and channel your efforts into a very narrow channel. Somehow I dont think that Ken Villum is being entirely honest.   He is focused on the Nordics but will have a very clear idea about what comes next, and what will be his future market focus.  Building that way keeps investors happy when they ask the 'What Next?' Question.  This is an interesting approach to a problem using a dated (Credit based) solution..... The USA should take note !   Tripples all round! 

Jonathan Bowles director at bushido strategy ltd

its nothing that innovative just making the CX easier. what these silos dont get is their ego to be 'owning' it gets in teh way. there are other things that could bolt on as this model is all about consumtion not real value just sonsume more 

A Finextra member 

its not innovative -  Cashplus card had business accounts like this back in 2008/9  perfect for the crash - providing Business banking accounts for £32 a year I recall - all built around a prepaid debit card!  

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