Launched in September 2019, Zeux claims to have “tens of thousands” of customers.
Zeux, an app-based payment platform, has announced it is to launch its first physical Visa card.
The fintech is offering a host of benefits to using its physical card including zero foreign exchange fees, no additional fees on overseas transactions, instant payment notifications, the ability to send/request money from friends and the ability to pay with cryptocurrencies.
Currently, customers that sign up to Zeux receive a virtual card which can be used to make purchases both online and in shops.
Zeux has said that it chose to launch a physical card “to satisfy the growing appetite for a ‘phygital’ – physical and digital – banking experience.”
Clearly launching a physical card with perks focused on travelling isn’t brilliant timing given the state of the world… but the startup is pushing ahead regardless.
Frank Zhou, CEO and founder of Zeux, said: “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.”
“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.”
Since launching in September 2019, Zeux has found itself in hot water after its tube adverts for a 5 per cent savings rate on its Easy Access Money Pot were called into question by the Financial Conduct Authority (FCA).
The digital banking service was ultimately asked to recall those adverts and both Transport for London and Zeux got a slap on the wrist from the city’s regulator.
While Zeux is regulated by the FCA, any money held in the fintech is not protected by The Financial Services Compensation Scheme (FSCS).