A new survey commissioned by financial cards firm CompoSecure showed that more than half of consumers preferred metal payment cards over plastic.
The study, conducted by Edgar, Dunn & Company, involved 6,000 people across the US, Japan, the UK, Brazil, Hong Kong and Singapore.
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Nearly 59% of the participants indicated preference towards metal payment cards over plastic, if other functionalities are equal.
The opinion was found to be similar in more than 50% of people in almost every surveyed market. Brazil topped the list with 82%.
CompoSecure CEO Jon Wilk said: “This survey helps us better understand the potential needs of financial institutions and the desires of their customers.
“The data also illustrates that a premium card, coupled with a strong rewards proposition, creates the positive brand image sought by financial institutions that are seeking to drive acquisition, increase spending and improve retention.”
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By GlobalDataThe survey revealed huge market opportunities for metal cards. While 63% of people across the world were unaware of this type of cards, the US was found to be the most familiar (44%).
Millennials were found to be comparatively more interested in metal cards. In the US, 77% of this demographic said that they would opt for metal cards.
In October this year, Greener Payments Partnership was launched to reduce first-use PVC plastic in card manufacturing.
Involving Mastercard, Gemalto, Giesecke+Devrient and IDEMIA, the collaboration aims for environmentally friendly cards.
