Zeux, the mobile fintech app to bring together payment functionality, zero added fee foreign exchange, investment and savings alternative options in one smartphone experience, has announced the launch of its physical VISA card to satisfy the growing appetite for a ‘phygital’ – physical and digital – banking experience.
The fast-evolving fintech world has become a hotbed for new players emerging on the scene – with digital, and increasingly virtual, solutions that improve the seamlessness of the banking experience.
There is still a strong appetite for traditional hands-on solutions – even Apple has just announced the launch of its very first physical store in India.
“At Zeux, we started our journey with virtual cards and saw a 50% month on month growth in usage. With an average age of 26, our customers are bold and savvy,” said CEO Frank Zhou.
“As a customer-centric company, we spend time getting to know our customers, and based on the demand for a physical card, are now proud to announce the launch of the Zeux VISA card for our customers. It marks an important milestone in the Zeux journey, further validating its position as a fast-growing financial institution.”
Currently, Zeux customers instantly receive a virtual card which can be used immediately, paying for goods on or offline. Now, customers can opt to receive the physical card by applying via the app in a simple 3-step process.
UK Finance Market Summary 2019 states that having overtaken cash in 2017, debit cards remained the most frequently used payment method in the UK in 2018, used for nearly four in ten payments.
The report also predicts that by 2024 debit cards will account for half of all payments in the UK – that’s a number which can’t be ignored.
Frank Zhou added: “Consumer adoption of fintech services in the UK is seeing impressive growth, though the cautionary approach we are known for as a nation holds us back from competing with countries like China and India.
“When we moved from cash to credit cards, consumers still carried cash with them for a transition period, until the cards became second nature and felt safe.
“Building trust with UK consumers takes time, and this is a factor that is often overlooked by fintechs: developing systems they ‘think’ the consumer wants will only create a landfill of solutions that no one ever asked for. Knowing your customer has never been more important.”