Mobile fintech Zeux has launched its first physical Visa credit card, following the success of its virtual cards.

According to Zeux CEO and founder, Frank Zhou, there is a growing appetite for both a physical and digital banking experience.

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“At Zeux, we started our journey with virtual cards and saw a 50% month on month growth in usage. With an average age of 26, our customers are bold and savvy. However, there is still a demand for fintech to be coupled with more traditional offerings.

“As a customer-centric company, we spend time getting to know our customers, and based on the demand for a physical card, are now proud to announce the launch of the Zeux VISA card for our customers. It marks an important milestone in the Zeux journey, further validating its position as a fast-growing financial institution.” 

Zeux credit card features

Zeux has promised that its physical card presents many user friendly features such as:

  • zero FX fee when paying abroad 
  •  no additional fees on any overseas transactions 
  •  categorised spending to track your expenses
  • ability to send and request money to/from a friend
  •  instant payment notifications 
  •  zero fee for cash withdrawals in both the UK and overseas (ATM providers might charge extra fees) 
  •  easy to use investment products
  •  ability to pay with cryptocurrencies using the physical Visa card in the your everyday life

Currently, Zeux customers instantly receive a virtual card, which they can use immediately to make online and offline purchases. However, customers can now opt to receive the physical card by applying via the app.

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Physical cards in the UK

UK Finance has predicted that by 2024 debit cards will account for half of all payments in the UK.

Zhou added: “Consumer adoption of fintech services in the UK is seeing impressive growth, though the cautionary approach we are known for as a nation holds us back from competing with countries like China and India.

 “When we moved from cash to credit cards, consumers still carried cash with them for a transition period, until the cards became second nature and felt safe. Similarly, when Apple Pay was first introduced, consumers continued to carry their credit cards, ‘just in case’.

“Building trust with UK consumers takes time, and this is a factor that is often overlooked by fintechs: developing systems they ‘think’ the consumer wants will only create a landfill of solutions that no one ever asked for. Knowing your customer has never been more important.”

Zeux launched in 2019 with the aim of transforming existing financial services by making management processes smoother and more convenient.