SOMERSET, N.J.--(BUSINESS WIRE)--CompoSecure, L.L.C., a pioneer and global leader in the design and manufacturing of premium financial cards, released the findings of a survey of 6,000 people around the globe that showed interest in metal payment cards. The survey was commissioned by CompoSecure and conducted by Edgar, Dunn & Company, an independent global strategy consulting firm specializing in payments and digital financial services.
The most striking piece of data emerging from the survey was that the majority (59 percent) of consumers surveyed indicated that they would prefer metal or metal hybrid cards over plastic, if all other things were equal. This number was over 50 percent in almost every market surveyed, and in Brazil, it reached an exceptional 82 percent.
“This survey helps us better understand the potential needs of financial institutions and the desires of their customers,” said Jon Wilk, CEO of CompoSecure. “The data also illustrates that a premium card, coupled with a strong rewards proposition, creates the positive brand image sought by financial institutions that are seeking to drive acquisition, increase spending and improve retention.”
The survey findings suggest that metal cards could be an important decision-making detail for the consumer’s choice of financial institution in conjunction with a strong loyalty and rewards program. Key findings of the survey included:
- Customer Awareness – The market has ample room to grow. Globally, the majority (63 percent) of people were unaware of metal cards. The U.S. was the most familiar with metal cards (44 percent).
- Affluent Attraction – Most (80 percent) U.S. Consumers categorized as mass affluent and affluent would prefer a metal card with equal benefits and rewards over plastic.
- Future Customer – The preference for metal cards spiked among millennials (ages 25 – 34), and particularly in the U.S., where 77 percent of this demographic said they prefer metal.
Edgar, Dunn & Company surveyed more than 6,000 consumers across six markets (Brazil, Hong Kong, Japan, Singapore, the U.S. and the U.K.) to present a holistic overview of the sentiment towards metal cards. Face-to-face surveys were conducted to validate and cross check the online survey results, talking with an additional 1,250 consumers in person (250 in each market) in the Brazil, Hong Kong, Singapore, the U.S. and the U.K. For more information about the survey and other market research, contact firstname.lastname@example.org.
Founded in 2000, CompoSecure is a pioneer and global leader in the design and manufacturing of premium financial cards. The company focuses on serving the affluent customers of credit card issuers worldwide using proprietary production methods that meet the highest standards of quality and security. The company offers clients secure, innovative and durable proprietary products that implement leading-edge engineering capabilities and technology in both the public and private sector. The mission is to increase clients’ brand equity in the marketplace by offering card products that differentiate the brands they represent, thus elevating the traditional card transaction process to a special cardholder experience.
For more information, please visit www.composecure.com.