8 Benefits of Custom Branded Cards for Fintechs in Nigeria
12/7/2023
The card payment industry is growing astronomically, fueled by the shift to online and mobile payments. For many B2C fintechs offering payment solutions —the adoption of custom-branded cards represents an invaluable strategy.
In this article, we will highlight the pros of issuing custom-branded cards to your customers with a case study from Piggyvest.
Pros of Custom Branded Cards for Fintech Startups
It Serves as a Brand Awareness Strategy: Every time a consumer uses a custom-branded card, your fintech company's name, logo, and colors are prominent, strengthening your brand identity. If you are looking for a way to get the word out there, issuing custom-branded cards is the way to go. Your card gets to travel in the wallets of your consumers.
It Helps Build Authority: A card with bespoke branding conveys authority and professionalism. Customers, partners, and investors will grow to trust you more as a trustworthy and respectable operator in the fintech sector.
It Serves as Word-of-Mouth Marketing: As customers keep using their cards, they become miniature billboards, spreading your brand message organically. For Instance, a customer could go to a POS stall to withdraw money, and the vendor could inquire from the customer about the card due to its uniqueness.
It Boosts Customer Retention : Customized Cards can be linked to loyalty programs and incentives, boosting consumer retention. It ultimately propels your fintech business's long-term success.
It Provides Insight to Consumer Spending Habit: Many custom card solutions offer data analytics solutions. You can track the spending patterns, preferences, and behaviors of your customers with this feature, which gives you insights and clarity that can guide your product development and marketing strategies.
It Provides Advanced Security Features: Advanced technology features like RFID technology and anti-fraud measures can be integrated into custom-branded cards. These features contribute to a safer transaction environment by shielding the customers and your business from potential threats.
It Promotes User Engagement with Mobile Apps: Mobile apps or web portals allow customers to engage with your fintech services, check their balances, get rewards, and participate in exclusive promotions.
It Helps to Save Cost: Investing in custom-branded cards can reduce costs related to paper-based coupons, loyalty programs, and traditional marketing materials.
Case Study: Piggyvest's Investment in Custom Branded Cards
One notable case study in the fintech space is Piggyvest's "Pocket by PiggyVest." This social commerce and payments app is tailored to entrepreneurs and savers, simplifying the process of selling goods and receiving payments.
Through its built-in secure escrow system, PocketApp ensures customers get the best deals while safeguarding both parties.
Piggyvest's seamless card issuing process is a testament to the company's partnership with Allawee. Allawee's Infra APIs have significantly enhanced the services and customer experience of PocketApp, as seen in this video.
In conclusion, custom-branded cards are not just pieces of plastic; they are powerful tools that offer considerable benefits to fintech companies. If you're eager to explore custom-branded cards for your fintech startup, start here.