Hemköp Matkonto
Value proposition
We’ve launched a new payment experience for the Swedish food retail company Hemköp, enabling customers to earn 25% more membership points when shopping at the Hemköp store and online. Since Matkonto is a debit Mastercard that works worldwide, we support the customer in their 360 economy by providing smart and seamless financial features to track and control their food money.
Food budget
Usually, the food budget is not limited to one specific grocery store, a food budget can cover all different food expenses, such as restaurant visits, cafés, kiosks, dinner boxes, etc. And since Matkonto payment cards work all over the world, the customer always have their food budget with them, regardless if the purchase is for a coffee in Stockholm or pasta in Bologna.
Food Retail & Finance
Industry
Sep 2024
Public release
SEB Embedded
Financial partner
Embedded banking – the financial backbone
The product is built on SEB Embedded’s Banking-as-a-Service platform and constitutes the financial backbone of Matkonto. It enables us to integrate financial services into a food retail product without ourselves becoming a bank.
Our partnering allows us to focus on building innovative and cutting edge customer experiences and value propositions that haven’t been seen before on the Swedish food retail market, while SEB Embedded takes care of licensing and regulations.
Payments
Matkonto is a debit Mastercard issued by SEB with support for Apple Pay. The strength of the debit card is that the customer does not have to undergo a credit check since it is debit. It should be easy to pay with your own money.
Account
Matkonto is managed in the iOS app where one of the core features is the overview of balance and transactions. It is clear which purchases are made on Hemköp and which transactions that are deposits and withdrawals.
Balance
The customer easily manages balance through Swish. Money is transferred in real time and therefore the customer can start paying with Matkonto immediately. In the same way as deposits, it is just as easy to withdraw money from the Matkonto if needed.
Card management
If an accident should occur or the memory fails, the customer can always access their card details directly in the app.
Smart and secure payments
It should be easy to pay with money you already have, and above all you should get something back for doing it.
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25% more membership points at Hemköp
Debit Mastercard issued by SEB with support for Apple Pay
Government deposit insurance
No currency exchange fee
Free of charge for the first 6 months
Joint account
With a joint account, the customers are given one card each connected to the same Matkonto. It gives them full control over deposits, withdrawals, expenses and the possibility to earn points faster to grant more bonus checks and higher tier benefits. No more arguing about food money.
Financial partner
SEB Embedded is a business unit at SEB that offers businesses like Humla a platform where financial services can be integrated into non-financial products. In May 2022 it was announced that SEB Embedded landed Humla as their first BaaS client, and since then we’ve together developed a strong foundation for the future of embedded banking.
Apple Pay
By offering Apple Pay, we signal that Matkonto as a payment service and Hemköp as a food retail store are at the forefront in of the tehnological evolution. We always have our phone with us wherever we go, and, of course, the customer's food money must be brought everywhere to pay for whatever comes their way.
Foreign payments
Since Matkonto is a debit Mastercard, the customer can make purchases all over the world. In this way, the customer always have their food money with them and, in addition, all foreign purchases are completely free of currency exchange fees.
Explore embedded banking
Download Hemköp Matkonto and explore how embedded banking has changed how payment works on the Swedish food retail market.
