How new generation feels about credit cards?
What happened after the last crisis, has the psychology of customer changed?
According to 2016 Bankrate study, 71% of Americans don’t want to pay annual fees for their credit cards.
Moreover, it’s not about money, millennials are those who usually use apps and software with a monthly or yearly subscription, so what is the difference?
Wait, could paying an annual credit card fee be a good thing? Avoiding an annual credit card fee is something most…www.bankrate.com
📈 The same as with traditional banks growth of Fintech showed us how financial services need to work in 21 century, with the instant management possibilities and transparent approach to all fees. Moreover, Fintech showed that not only the facilities but as well as emotions, the design could be put in the price.
If with traditional banks it’s all becoming clear, how about your credit card fees? Now is the time for payment systems like VISA and Mastercard to show that they understand their customers.
💳 VISA recently launched a ‘FinTech fast-track program’ to help early-stage startups gain access to its global payments network. Many Fintech companies already joined the program include Jaja, Revolut, and Wirecard.
“The strategy of acquiring customers using balance transfer offers with hidden fees has been a race to the bottom.
The industry now needs a significant upgrade — it’s time to need to put the customer first, provide greater transparency and help consumers take control of their finances,” said Radley. Jaja’s credit card is “far more simple, fair and transparent to use for busy people living modern lifestyles.”
Jaja CEO Neil Radley, previously CEO of Barclaycard Western Europe
I’m already waiting for the huge upgrades to try them and you?