Innovation That Matters

Savings scheme | Photo source Pixabay

Debit card uses rare heavy metal to promote saving mentality


A new debit card is made using a rare heavy metal to remind users to save and invest with every purchase.

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Long gone are the days of finance management revolving around trips to a local bank branch or depositing paper cheques. Once an industry people were most sceptical of due to security, fin-tech is now booming. Constantly evolving technology means that what was once deemed impossible is now a reality, helping the public trust new innovations. A European bank even uses video identification to process customers wanting to open a bank account, streamlining the usual journey to a branch that would be required. Elsewhere, an online platform in Nigeria is helping people save by remotely managing their money day-to-day.

Springwise originally wrote about the fin-tech company Acorns back in 2014. We detailed its business offering that provides users with an option to invest a few cents with every purchase. Acorns has now expanded even further with its new debit card model. Designed by the San Francisco-based firm Ammunition, the debit card automatically rounds up purchases to the next dollar. It then deposits the extra cash into a savings account. This means the user’s savings will grow without them actually having to think or make a special effort.

Additionally, the Acorns debit card is made out of tungsten, a rare heavy metal that is very different to a regular credit card. Noah Kerner, Acorns’ CEO, wanted the card to portray the companies ethos while also making a statement about the person who uses it. He explains “We didn’t want to go down the path of metal cards, of feeling too high-end–or even over-designed. The company is all about investing, saving and taking care of finances so our design is focused on that”. The card is also linked to customer’s bank accounts so it can offer mobile check deposit and check sending, direct deposits, free bank-to-bank transfers and unlimited free or fee-reimbursed cashpoint withdrawals.

In an era where people have never been more mindful about how they spend their hard earned money, the Acrons card offers a stress free solution to save. How could you use micro-investment within your business operation?



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