How We Got Here

Demystifying Cards

Before we dive deeper into the card programme world, you’ll need some useful context to the card and payments landscape. For example, how has the card ecosystem evolved into the trillion dollar industry it is today? And, just as important, what trends will shape the card ecosystem of tomorrow?When you think about the simplicity, ease and convenience of payment cards , it’s a wonder cash has lasted this long. Now throw in technological advances, innovations from the fintech world, changing shopping habits, and a pandemic, and the future of cash is looking ever bleaker. The truth is, using physical currency to pay for goods and services may become obsolete.

“The total number of non-cash payments in the euro area, comprising all types of payment services[2], increased by 8.1% to 98.0 billion in 2019 compared with the previous year, with a total value of €162.1 trillion. Card payments accounted for 48% of all transactions, while credit transfers accounted for 23% and direct debits for 22%.”

Source: European Central Bank

Now, before we dive into what the future might hold for card payments, let’s look at some notable moments in the evolution of modern-day cards.

Lydia

An example of a truly innovative consumer proposition has to be Lydia – the super-app for your money – as they describe themselves. ‘I’ll Lydia you’ has become a phrase used by millions of French people who use Lydia for payments and reimbursements.

The French fintech scene is full of excellent examples of innovation. France has been so successful at enabling entrepreneurs and innovators to launch and grow their card programmes as part of the wider payments and finance ecosystem

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Card types

Next chapter

Here we talk about the crucial differences between prepaid, debit, credit, physical and virtual cards – there’s a lot more nuance than you might think.

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