Friday, September 29, 2023
  • Nasdaq FintechZoom
  • Dow Jones FintechZoom
  • Gold Price FintechZoom
  • Luxury FintechZoom
  • Investment FintechZoom
  • Money FintechZoom
  • Silver Price FintechZoom
[email protected]
 FintechZoom
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
      • Brent Crude Oil Price
      • WTI Crude Oil Price
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
    • Shanghai Index (SSE)
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
    • Secure Bank Login
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Watches
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Entertainment
    • Health
    • Cars
    • Near Me
    • Life
    • Weather Tomorrow
  • INVESTMENT
    • Real Estate
    • Famous Investors
  • ABOUT US
    • Why Fintech Zoom?
    • What is FintechZoom?
    • Advertise with Us
    • Careers in FintechZoom: Carving Your Path
    • Fintech Zoom Logo
    • FintechZoom PRO
    • FintechZoom Contacts: Best Ways to Connect with FintechZoom
No Result
View All Result
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
      • Brent Crude Oil Price
      • WTI Crude Oil Price
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
    • Shanghai Index (SSE)
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
    • Secure Bank Login
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Watches
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Entertainment
    • Health
    • Cars
    • Near Me
    • Life
    • Weather Tomorrow
  • INVESTMENT
    • Real Estate
    • Famous Investors
  • ABOUT US
    • Why Fintech Zoom?
    • What is FintechZoom?
    • Advertise with Us
    • Careers in FintechZoom: Carving Your Path
    • Fintech Zoom Logo
    • FintechZoom PRO
    • FintechZoom Contacts: Best Ways to Connect with FintechZoom
No Result
View All Result
FintechZoom
No Result
View All Result

How is Fintech Disrupting Credit Cards (and What New Features Can You Expect?)? 

James Albert by James Albert
September 26, 2022
in Credit Cards
0

Home » How is Fintech Disrupting Credit Cards (and What New Features Can You Expect?)? 

The introduction of the first universal credit card in the 1950s marked the beginning of a new era in the financial sector. But since the release on the market of the original Diners’ Club over 70 years ago, credit cards have developed significantly. And, today, new technologies have fuelled the development of new features.

But how are advances in Fintech changing credit cards? And what should you be looking for in your next credit card issuer? Below, you’ll find a comprehensive overview to guide you in your buying decision-making process.

First Things First: What Are Your New Options if You Have Poor Credit?

Credit cards are powerful credit-building tools and can give you access to a wide range of financial products and services.

However, the most recent financial crises, including the 2008 crash and the pandemic-induced recession, have caused a shift in the consumer behavior of younger users, causing them to rely more and more on debit rather than credit cards. In turn, this trend has resulted in lower credit scores for younger generations.

Luckily, neo and challenger banks have expanded the credit-building opportunities for young users by making the best unsecured credit cards for poor credit more accessible to this audience. What’s more, these credit cards can assist consumers who are struggling to access financial products such as personal loans and mortgages due to a scarred FICO score.

Credit Cards in The Fintech Age: What To Expect

It is undeniable that technology is leaving its mark on all industries, and the financial sector isn’t an exception. But how are developments in Fintech changing credit cards as we know them today?

RelatedPosts on FintechZoom

Is Discover a Good Credit Card? Is it Worth it?

Discover the Best Credit Cards 2023: Fintechzoom’s Expert Opinion

China’s Payment System Welcomes International Credit Cards: What You Need to Know

Milestone Credit Card Review: Is It Worth It?

American Express Business Platinum Card: Premium Travel Benefits and Rewards for Entrepreneurs

Maximizing Your Savings with Banana Republic Credit Card: Tips and Tricks

Here are just some of the rising trends worth keeping an eye on.

The Rise of Virtual Credit Cards

Most new fintech solutions are released with the goal of helping consumers gain more control over their finances. For example, new mobile banking apps offer features such as budgeting and international transfer tools.

However, fintech is also helping institutions and merchants by making e-payments more efficient and secure. For example, virtual credit cards can streamline the eCommerce shopping experience, reduce running costs, and help users track their cash flow.

Buy Now Pay Later Services at POS

In a race to make the checkout experience as stress-free and seamless as possible, companies and institutions are now offering Buy Now, Pay Later, and POS financing services.

These services are becoming more accessible and widespread thanks to the availability of proprietary cards created by fintech players such as Klarna and Afterpay, which offer incorporated features such as Pay in 4. What’s more, these financing solutions are interest-free, easy to track, not impactful on credit, and rewards-earning.

Single Interfaces To Manage Multiple Credit Cards

According to recent statistics, users in the US have an average of 3.23 credit cards per person.

The wide range of cards users acquire might give them access to more specific and convenient benefits, perks, and rewards. For example, having a travel credit card can help frequent flyers accumulate air miles and points.

On the other hand, tracking spending and balances on multiple cards might not be so easy, and can lead to late payments and unnecessary fees. Thanks to Fintech platforms, users can now use a single platform or app to manage all of their cards, thus benefiting from a comprehensive snapshot of their finances.

Different, Better Rewards

Credit card rewards have always been inherently connected to current consumer trends.

For example, the first Diners’ Club contributed to its own reputation as a status symbol by being accepted at luxury and exclusive establishments. What’s more, during the pandemic, credit cards switched from offering rewards such as travel points to providing consumers with more useful perks, such as points to redeem at supermarkets and gas stations.

New Fintech solutions and technologies have also influenced the world of credit card rewards and, today, you might be able to access unprecedented perks, including cryptocurrency.

Alternative Digital Payments Methods

While credit cards are still considered to be the most common form of payment method, new digital solutions are quickly gaining popularity. Fintech tools – including IoT devices and mobile payment apps – are contributing to making payments easier, safer, and more convenient.

Rising technologies such as digital wallets and peer-to-peer digital payment platforms are also supporting the digital transformation of the financial industry.

New, Fintech-Powered Credit Card Features: What To Look For in Your Next Credit Card

Fintech solutions are promoting the development of emerging financial niches, including Banking-as-a-Service (BaaS) and Banking-as-a-Platform (BaaP).

But while these sectors are developing at an unprecedented rate, most consumers, especially those looking to build their credit score, are looking for credit cards that allow them to cut costs, budget, and gain control over their finances.

Some of the fintech-powered features you should be looking for in your next credit card include:

  • 24/7 customer service and support
  • A direct line of communication with human customer support experts
  • Budgeting features and “savings” spaces
  • High accessibility of data such as statements and statistics
  • Financial protection, especially for large and foreign transactions
  • Proprietary mobile banking apps associated with your card that allow you to control your finances at the touch of a finger

If you are unsure about what are the unmissable credit card features for your needs, consider comparing quotes and plans to ensure that both perks and terms of use match your financial goals.

James Albert

James Albert

James Albert is a personal-finance analyst for FintechZoom and is based in New York. Contact: [email protected]

Related Posts

is discover a good credit card? Is it Worth it? | FintechZoom

Is Discover a Good Credit Card? Is it Worth it?

September 20, 2023
Discover it® Cash Back | FintechZoom

Discover the Best Credit Cards 2023: Fintechzoom’s Expert Opinion

September 18, 2023

China’s Payment System Welcomes International Credit Cards: What You Need to Know

June 28, 2023

Milestone Credit Card Review: Is It Worth It?

June 22, 2023

American Express Business Platinum Card: Premium Travel Benefits and Rewards for Entrepreneurs

June 14, 2023

Maximizing Your Savings with Banana Republic Credit Card: Tips and Tricks

May 16, 2023

Solving Your Credit Woes: The Top Credit Cards for Bad Credit with No Deposit

May 13, 2023

Best Business Credit Cards for Bad Credit: How to Rebuild Your Credit and Grow Your Business

May 9, 2023

Breaking Down the Benefits of an Apple Card Credit Limit Increase: What You Need to Know

April 24, 2023
Next Post
Desk with Paper, calculator, coins and a Toy Car | FintechZoom

Will Refinancing a Car Loan Hurt Your Credit?

Just Arrived | FintechZoom

Travelers Insurance: More Than Just Vacation Insurance

LSE | FintechZoom

London Stock Exchange battles to stay relevant as pound hits record low

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About Us
  • Advertise
  • Careers
  • Terms and Conditions
Call us: + 1 917 9939840

© 2016-2023 FINTECHZOOM

No Result
View All Result
  • MARKETS
    • Trading
    • Stock Futures
    • Exchange Traded Fund (ETF)
    • Best Stocks To Buy Now
    • Penny Stocks
    • Forex Market
    • Bonds & Rates
    • Stock Market Guides
    • Commodities
      • Brent Crude Oil Price
      • WTI Crude Oil Price
    • Breaking Stock Market News
    • Reviews in Stock Market
    • Asian Markets
    • European Markets
    • US Markets
  • WORLD INDICES
    • DAX PERFORMANCE-INDEX
    • Russel 2000 (RUT)
    • STOXX Europe 600 (SXXP)
    • Euro Stoxx 50
    • CAC 40 Index (FCHI)
    • FTSE 100 Index
    • Nikkei 225 Index
    • HSI – Hang Seng Index
    • NSE Nifty 50 Index
    • NASDAQ Composite Index
    • Dow Jones (INDEXDJX: .DJI)
    • S&P 500 Index
    • ASX – Australian
    • Shanghai Index (SSE)
  • BUSINESS
  • CRYPTO
    • Metaverse
    • Tokens
    • Crypto Reviews
    • NFT : Non-Fungible Tokens
    • Stablecoins
    • Blockchain
    • Ethereum
    • Buy Bitcoin
    • Best Crypto
    • Bitcoin
    • Altcoins
  • MONEY
    • Insurance
    • Taxes
    • Mortgages
    • Loans
    • Personal Finances
    • Credit Cards
    • Interest Rates
  • BANKING
    • Banks Near Me
    • Payments
    • ATM Near me
    • Best Banks
    • Banks Guides
    • Transfer Money Online
    • Mobile Banking
    • Digital Bank
    • Secure Bank Login
  • TECH
    • Social Media
    • Login
    • Error Pages
    • Is It Down?
    • Download
    • Settings
  • LUXURY
    • Luxury Food & Drink
    • Luxury Watches
    • Luxury Cars
    • Luxury Style
    • Luxury Motors
    • Luxury Travel
    • Luxury Tech
  • LIFESTYLE
    • Travel
    • Entertainment
    • Health
    • Cars
    • Near Me
    • Life
    • Weather Tomorrow
  • INVESTMENT
    • Real Estate
    • Famous Investors
  • ABOUT US
    • Why Fintech Zoom?
    • What is FintechZoom?
    • Advertise with Us
    • Careers in FintechZoom: Carving Your Path
    • Fintech Zoom Logo
    • FintechZoom PRO
    • FintechZoom Contacts: Best Ways to Connect with FintechZoom

© 2016-2023 FINTECHZOOM

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?