Security concerns were prime challenge for Debit and Credit cards during their commencing days. It has not been a decade that the common man started using these cards with surety. Now the time has come that the majority prefers cashless transactions wherever they go.
The Banks and Wallet companies have made the maximum use of such tendency drift. They have launched Cards of various types that suits variant necessities and moreover preferences. As all over the world ‘cashless economy’ trend hits in, adaptations and updations has cropped up in usage of cards. Even though technological advancements are the notable updates there are other spheres to it.
The most interesting and splashy one is that of the customized cards. Many novice banks have experimented customized cards with good success ratio by bringing in considerable notice to their brand. They have customized cards to make their brand stand out from the conventional system. This was intended to show a change in their overall approach and was also meant as a low-cost advertisement of their brands.
The usage of digital wallets has grown ever since its launch, which resulted in a good volume of competition in that speciality. Few of those Wallets have released their own Credit cards, Gift Cards, etc. and we can see a great mode of customized features in such cards which indeed draws attention. It is not about creating a fancy kind of card style to get attention but to make look personalized for the cardholder. The usage of card depends upon how much a person can relate to it by all means.
Laying aside the aspects of other circumstances, the personalized look of a card do have great role in the usage of it. This is more than an assumption as it is psychologically established and experimentally proven. W. Keith Campbell, a psychology professor at the University of Georgia once made a comment over personalization of cards like this – “Personalizing is a way of adding uniqueness. It makes cards seem like a part of you. It’s part of your self-image, so you’re more likely to use it publicly or show it to people. I can see pulling one card out of my wallet rather than others for that reason. It’s a way of branding yourself” Though personalized transaction system and facilities are the prime demand, customization of cards to implement personalized feeling is also a means to reach out to the heart of the customer.
Customization of Cards has definitely brought in benefit to the banking industry and associates, at the same time there are various providers of different credit card skins who benefited with this appealing drift. The industry already existed for various other customization options like that for mobile phone back covers, computer keyboards and mouse. But with this trend towards Cards made many new Freelancers come up with ‘Elfin’ ideas to dominate the industry.
Customization of cards is a great revelation for cardholders as they can now hold a card created according to their preference. There are various custom-built card skins available over the internet market which one can avail in an affordable price. Cards featuring Cartoon characters, Marvel Superheroes and even Donald Trump memes are available across various platforms. There are few dealers in the market like Canva.com, MrLavish.com that allows the customers to self- design their card skins. The product comes so handy that anyone can stick it in to their existing cards.
The trend of customizing cards by the users have not lavishly hit the shores of India much but as more banking brands bring in their customized cards, the urge might hype in users to bring their own interest in tailoring desired designs to cards. This revolutionary idea has sparked many marketing opportunities for example the Banks can now provide Credit Cards to all employees of a company with the logo of the recipient company.
Thus making a feeling of coalition between the company and the bank simply through a customized card can increase their Credit Card Sale. It is very simple but advertently powerful. In countries like the US the Financial institutions provides the consumers control over the design of their Debit/Credit card artwork. By all means it helps these banks and credit unions to generate more income. Undoubtedly this formula of Customization of Cards will open new havens in banking industry and for card holders in India, which we will witness in the time to come.