Fintech: With The Plum Card, Users Can Set Their Budgets And Spending Limits

July 8, 2022 | FinTech, News

It’s a debit card with a difference – it doubles up as a money app.

London-based fintech Plum, known for its personal finance app, has built these features into its debit card – the Plum Card. Said to be the company’s latest addition to its money management toolkit, it aims to give you better visibility and control over your finances.

The Plum card can be used anywhere Visa is accepted. A user can load their card with the weekly or monthly allowance to see exactly how much is left available to spend.

The card will initially be available to existing UK premium tier ‘Plum Ultra’ customers at no additional cost.

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

Lia Papageorgiou, product manager at Plum, stated:

“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.”

It is also environmentally-friendly. 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.”

Related Story: Marqeta To Power Klarna’s Physical Visa Card For BNPL

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