London Fintech Plum Introduces Debit Card Supporting Budget Control

 

London Fintech Plum, Europe’s personal finance app, has introduced a debit card “to help its customers take control of their finances.” The card is Plum’s first move into spending, “consolidating its position as a comprehensive money app.”

Designed to complement Plum’s budgeting features and help people keep track of their spending, the card will initially “be available to existing UK premium tier ‘Plum Ultra’ customers at no additional cost.”

Users can “load funds from a linked external bank account and from money set aside in the Plum app, and spend within their chosen allowance.”

Victor Trokoudes, CEO and co-founder of Plum, the debit card is a strategic addition to Plum’s product portfolio, said:

“Our vision is for Plum to be the only personal finance app you need. The Plum Card is a huge step forward in that direction. We want to simplify money management for our customers at every stage in their financial lifecycle. This card will give Plum users even better visibility and control of their finances, as they can set their own spending allowances. This means they can properly compartmentalize their spending.”

Supported by a dedicated section of the Plum app, users will be able “to manage the card and keep track of purchases in the same place as their savings and investments.”

While many banks apply additional charges when customers spend abroad, Plum “allows users to spend at Visa’s daily exchange rate, with no extra fees.”

The plum-colored debit card is “made up of 57% sea salt and 43% crude oil, making it less dependent on oil than other plastics.”

It can be “recycled up to eight times, and contains a degradable material that allows the card to decompose under the right conditions – such as a compost bin.”

Lia Papageorgiou, product manager at Plum, adds:

“The card is amongst the Plum community’s most-requested features, and it’s been incredibly satisfying to bring that to fruition for our customers. With our signature Plum purple colour, customers can spend in style. As Plum aims to promote healthy habits around money management, we also wanted the materials used for the Plum Card to reflect the value of sustainable growth.”

Plum’s debit card is “the latest in a raft of new features slated for release in 2022, following hot on the heels of its commission-free stock investing platform, which launched in May.”

The company currently “has 1.3M customers and plans to build on its rapid growth by expanding its investment offerings and growing its presence throughout the EU.”

As covered, Plum aims “to be Europe’s ultimate saving and investing app.”

Founded in 2016 by Victor Trokoudes (ex-Wise), Plum’s mission is “to improve financial resilience and make people better off over their lifetime.”

The Plum app “acts like a brain by automating the parts of personal finance that people find difficult or don’t have time for.”

It sets aside “what each person can afford, finds better deals on everyday bills, offers useful spending insights and provides a simple platform for easy-access investments.”

The growing Fintech, with 1.3 million users, has “raised $46 million in total since being founded and has saved more than £1 billion for customers across Europe.”

With an iOS and Android app launched in 2019, Plum has grown “to include an investing platform, budgeting tools, and the ability to earn interest on money saved.”

Plum is “headquartered in London, UK and has offices in Athens, Greece and Nicosia, Cyprus.”

Sponsored
Sponsored Links by DQ Promote

 

 

Send this to a friend