- A New Taste Sensation Product Burger 10 - An Unforgettable Flavor Experience

This week, we're back with a new product: a juicy burger! We've also got a newsletter discussing product innovation and the impact it has on market consumption patterns. Plus, you can actually get this delicious burger for free! A significant number of rewards credit cards exist on the market, however the majority of the rewards they offer are either overlooked, don't fit a consumer's needs or are complicated to redeem. To be exact, around 70% of rewards are not taken advantage of. Apart from the fact that the UX, CX and BX of current reward credit cards do not provide an enjoyable experience past rewards redemption, let's explore something else... Yonder! I have used numerous credit cards over the years as a fintech enthusiast, however none have been as good as the experience I have had with Monzo. Yonder's credit card is one of the few that has mastered a great balance between customer experience and user experience, and I have not yet needed to utilize their customer service, although I am sure it would be to a high standard. Some British customers may currently consider cards to be unnecessary, as phones can handle most payments. However, consumer habits alter according to economic situations (for example, the recent rise in cash usage in the UK). Therefore, Yonder has a free tier which includes a digital card that will work for online transactions and with your mobile wallet. You can choose to obtain a physical card by using their paid tier. The mission of Monzo to ensure money works for all is illustrated through Yonder's approach. Both UK-based fintech companies indirectly compete in the credit card sector. While Yonder has a rewards-based credit card competing with the likes of American Express, Monzo has its Flex card which focuses on enabling consumers to spread payments via buy now pay later (with great UX, as we'll look at in a future article). Unfortunately, credit cards can become 'debt traps'. It amazes me that, despite the simplicity of UX design and a clear view of spending (and debt owed), a lot of current offerings don't seem to understand this. Credit card use and budgeting don't always synchronize well, however, Yonder's onboarding process and user flows have tackled this challenge head on, providing a clear point of view regarding what is owed. I was especially impressed by the ability to pay for pending transactions. This card has a fee, worse than the free tier with lower credit limit and less points per £ spent. Instead of charging annually like other companies, Yonder charges monthly; this is well-defined with an explanation of how rewards can cover these fees. It's easy to set up (and switch off) Direct Debits, providing you with the option to pay either the minimum or the full amount. It's a simple but effective system that I haven't found with other services. If you've ever been charged exorbitant fees or failed to pay the minimum - you can now save all those extra pennies into your Chip account every month. 😅 It's simple to get rewards and rewards points from credit card spending; utilize it for daily expenses and you'll soon be feasting on a free burger. It is noteworthy that this fintech, although small, sees a lot of users from London, meaning that rewards redemption for those outside of the area may be slightly more restricted (especially when it comes to online or travel experiences). Enjoy a burger with a sense of peace!

Source: https://medium.com/product-burger/product-burger-10-68e474cbd555?source=rss------fintech-5