‘Like sneaker culture’: Are gimmicky debit cards overplayed or a smart business decision?
- Revolut’s glow-in-the-dark debit card is the latest in a series of flashy debit cards to hit the market.
- Experts say it’s a smart, cost-effective strategy that builds customers, brand equity and culture.
For the last few years, flashy, novelty debit cards have dominated the digital banking market. Nothing quite captures their spirit of prestige than reddit user AverageStergios talking about Revolut’s new glow-in-the-dark debit card.
“Now you pay at the club like a badass 😎”,” writes AverageStergios on a Revolut/Anthony-Joshua subreddit without any irony.
Revolut’s latest offering comes on the heels of its limited-edition flag card, launched at the end of last year. As digital banks compete and seek to differentiate themselves, odd cards have become commonplace. Industry insiders say it’s a smart marketing strategy that continues to yield results.
On April 6, Revolut announced a new glow-in-the-dark debit card in partnership with 2x heavyweight boxing champion Anthony Joshua. The card is a sleek black and white ombre-ish design that glows neon green and black in the dark. For every debit card ordered by a UK customer, Revolut donates $1.37 (£1) to struggling independent boxing gyms across the UK, with a minimum commitment around $70,000 (£50,000).
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I’m inclined to believe the gimmicky card trend is a good thing — examples in this piece referenced supporting charities and some real creativity in card design. I had a vertical designed card a few years back and thought, “Wow, that’s a little different.” If you are offering cards, don’t you want a little “wow” every now and then? If so, why can’t card issuers have 50 or 100 cards to choose from?