SOMERSET, N.J.--(BUSINESS WIRE)--CompoSecure, L.L.C., a pioneer and global leader in the design and manufacturing of premium financial cards, reports strong growth in 2019 due to increased global market demand for metal cards and dual interface (EMV chip & contactless) metal cards.
“We are in the midst of an ideal situation with consumer demand rising, new markets opening up and a premium high-quality product outperforming expectations,” said Jon Wilk, CEO of CompoSecure. “As much as we are happy about our success last year, we expect demand this year for metal cards to be even stronger, because the rate of adoption and global awareness is growing exponentially.”
CompoSecure milestones achieved in 2019 include:
- Market Leadership – A recent ABI Research report touts CompoSecure as “the #1 manufacturer and supplier of metal cards globally,” as well as the only large-scale manufacturer of metal cards globally. According to the Nilson Report, there are more than 32 million metal cards in circulation world-wide and forecasts that number to quadruple in the next two years.
- Global Expansion – CompoSecure has tripled its global market footprint and now has distributed premium financial cards to more than 20 countries, including: Australia, Brazil, Canada, China, France, Hong Kong, India, Italy, Mexico, Japan, Poland, Russia, Singapore, Turkey, U.A.E., U.S. and U.K.
- Company Growth – The staff has grown by more than 20 percent over last year and has more than tripled since 2016. The CompoSecure sales team has more than doubled since last year to meet rising demand with representatives in the U.S. and Latin America and plans to expand to other European regions in 2020.
- Industry Accolades – The company won two awards for card design with the International Card Manufacturing Association’s (ICMA) Élan Awards for “Unique Innovation” and “Best Secure Payment Card.”
- Social Good – CompoSecure has been recognized by two local organizations for its contributions to the New Jersey community: New Jersey Business and Industry Association (NJBIA) gave its Community Service Award and Roots & Wings awarded the company its 2019 Irene DeGrandpre Award.
“Differentiation is playing a key role in the rise of the metal cards market and metal cards are proving an integral piece to ensure a differentiated banking solution, creating more desirability, customer loyalty, and stickiness, ensuring higher levels of customer interaction and retention,” reported Phil Sealy, Research Director, ABI Research. “The metal card is here to stay. The metal card should not be considered a fashion statement, but an innovative card form factor linked to premium products and services.”
A recent CompoSecure survey conducted by Edgar, Dunn & Company showed that the market for metal cards is poised for tremendous growth. Globally, the majority (65 percent) of those surveyed would prefer metal or metal hybrid cards over plastic, all other things being equal. Half of consumers surveyed (50%) took their desire for metal cards further by indicating that they would leave their bank for another that offered a metal payment card.
Consumer interest, coupled with the growth and rapid adoption of contactless payment cards, points to tremendous potential for 2020 to be one of the biggest years for the growth of metal cards.
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.