The trend for “premium” products has now moved towards credit cards, where issuing banks offer a fancy metal card to their select customers as a way to differentiate themselves. In fact, financial institutions began to offer metal credit cards or hybrid versions of them as they realized the impact of prestige products in a market that promises significant expansion potential. Metal cards have gained notoriety with demand, sometimes exceeding existing stocks. Many issuers have launched metal card programs beginning in the United States and now showing strong growth potential internationally, including Latin America.
Issued by a trusted brand, metal cards convey attributes usually associated with “premium” products, such as high quality, superior design and style. Today, metal credit cards are still in the early stages of adoption.
The current unsatisfied demand for a product such as a metallic payment card is evident. When given the choice between metal and plastic, 59% of people surveyed would select the metal card if it carries the same benefits and rewards. This demand is high in all markets, although it is particularly strong in Latin America.