A third of American consumers are willing to switch banks in order to get their hands on a metal payment card, and almost half said they would like their credit unions or financial institutions more if they offered metal payment cards, according to a new survey commissioned by Somerset, N.J.-based card manufacturing firm CompoSecure.

The survey of 18,000 people in 18 markets around the world found that 45% of U.S. consumers said they felt more positively about their financial institution if it offered metal payment cards, and 33% said they would switch to a financial institution that offered a metal card. Payments consulting firm Edgar, Dunn & Company conducted the survey. 

"In today's competitive market, financial institutions are looking for differentiators that can give them a competitive edge," CompoSecure CEO Jon Wilk said. "The data proves that premium metal cards coupled with a strong loyalty and rewards program, can build a bank's customer loyalty, grow their customer base and ensure solid footing for the future with a younger demographic. The metal card is the best manifestation and representation of a premier brand."

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.