Banks use metal cards in the Premium market.
Banks have noted that the metal card is so sought after because of how it looks and how it makes consumers feel. This was an opportunity to enter the premium services market and they took advantage of it.
The metal card is here to stay: They are made with the highest quality materials, produced with sophisticated printing techniques and come in very attractive designs. They look and feel stylish, but more importantly, they help consumers stand out and feel good.
Looking at the numbers, we see that over 50% of high net worth US millennials are planning to get a premium card in the coming months and are willing to pay for a metal card, of which 70% are under 35 years. People feel the need to be noticed.
Neobanks have understood the great potential of these cards and see them as more than just payment methods: they are a brand strategy that will improve their image. Young customers are the ones who value the appearance and design of your card the most. Metal cards are more than just a payment form factor – they make the cardholder feel unique and create an unparalleled payment experience.