Comperemedia’s Chief Insights Officer, Andrew Davidson is well known for sharing the latest insights on financial services products and marketing strategies/innovations on his LinkedIn, as an event speaker and as a host on Mintel’s Little Conversation podcast. In this bi-weekly recap, he will provide you with the latest news and insights happening in the financial services industry.
Here are the 5 things you need to know:
1. ATB Financial addresses tariffs in marketing
What is a BANK saying to consumers about TARIFFS?
Canada’s ATB Financial launched an Instagram campaign, “To tariff or not to tariff?” addressing the uncertainties surrounding the tariff situation between the U.S. and Canada while encouraging Albertans to shop local.
According to ATB’s Chief Economist, the majority of Alberta’s food and chemical product exports go to U.S. buyers, meaning Alberta’s economy “might take a hit.” The post links to an article that includes a “list of Alberta businesses we love.”
💡Lessons for brands navigating uncertainty:
- Find creative ways to support consumers and businesses during times of change. Uncertainty breeds anxiety and confusion. Banks can build trust by empathizing with consumers’ challenges and concerns. In this case, ATB attempts to provide clarity and guidance during a fast-changing situation, showing how brands can step up when it matters most.
- Be proactive and transparent in your communications. The pandemic taught us that honest, open communication builds stronger customer relationships. Brands that prioritize transparency and proactive messaging will be better equipped to navigate future challenges and foster loyalty.
2. X launches X Money
X (formerly Twitter) users want this. At least, a good chunk of them do.
According to Mintel, 29% of daily active users on X say they’d be interested in using X for financial services.
This aligns with the January announcement of X Money and its partnership with Visa to enable P2P payments for debit cards later this year. According to the announcement, X Money will launch later this year with the following features:
- Secure and instant funding to your X Wallet via Visa Direct
- Connects to your debit card, allowing P2P payments
- Option to instantly transfer funds to your bank account
So, what’s the potential for X Money to carve out a space in the increasingly crowded payments market?
🏆 Bring on the wallet wars!
- Captive audience. X already has a major advantage: its large, engaged user base. Around 31% of adults use X daily, rising to 46% weekly, according to Mintel, and Gen Z/Millennial males are the most likely to show interest in X Money.
- Head to head. It’s not a direct comparison, but the top players in the P2P payments space include PayPal (59% used in the past year), Cash App (33%), Zelle (26%), and Venmo (23%). With its captive audience and interest in X as a financial services brand, X Money could potentially achieve 10% usage right out of the gate with a minimum viable product and minimal marketing.
- Converting the competition. The real opportunity for X Money lies in converting its own users who are already using competitor payment apps. Zelle hit a record $1 trillion in transactions last year, and Block spent nearly $1.2 billion marketing Cash App in 2024, with plans to invest even more in 2025. In other words, it’s a competitive space, and these apps are deeply entrenched among X users, but with creative marketing and a compelling value proposition/product roadmap, X Money can become the payment app of choice within its own ecosystem.
3. A limited-time offer for the Self Visa Credit Card
In January, Self Financial announced that its secured credit card—the Self Visa Credit Card—was now available to everyone (previously, you had to have a Self Credit Builder Account) with a minimum deposit of $100 ($25 annual fee).
In February, Self ramped up its efforts. The fintech accelerated its marketing push, sending more than 6.5 MILLION emails (client link only) promoting a limited-time offer with no annual fee for the first year, according to Comperemedia, a Mintel company.
💡The new secured card playbook:
- Fintechs bring secured cards into the mainstream. With subject lines like “Intro offer: No annual fee for the first year” and bold, colorful marketing, fintechs like Self are making secured cards more appealing than ever. For years, secured cards were seen as a last-resort product for those with damaged credit. Now? They’re being repositioned as smart financial tools, forcing banks to play catch-up.
- Credit-building is now a universal motivation. For many, credit-building is the #1 reason to open a new credit card—not just for subprime or new-to-credit consumers but for anyone looking to improve their score before a major financial move (think mortgages, auto loans). As consumers better understand their credit scores, the language of credit risk has become part of mainstream culture, unlocking new products and marketing strategies. Expect more banks to follow this playbook—lower deposits, waived fees, and secured cards that don’t feel like secured cards.
4. Southwest rewards insurance payments
Southwest Airlines kicked off its new Companion Pass 2X Quarterly Bonus promotion with 2X POINTS ON INSURANCE PURCHASES in Q1 2025 (up to 10K points).
This is a strategic move that shifts travel rewards beyond traditional spending categories.
Emails were sent to approximately two million cardholders in January and again in February, so this looks like a targeted offer, given the likely size of Southwest’s cardholder base.
Source: Comperemedia Omni [02/02/2025 – 02/28/2025] as of 03/03/2025
💡Essential engagement:
- Expanding rewards to essential spending. Insurance premiums – whether for auto, homeowners, renters, medical, or life insurance – are often large, recurring expenses that consumers must pay. Since Q1 is a peak renewal period, Southwest is tapping into a broad consumer base and encouraging high-value, non-discretionary spend on its card. While other cards like Chase Freedom Flex and State Farm/U.S. Bank offer insurance rewards, it is uncommon for a travel card.
- Driving long-term engagement & loyalty. By incentivizing cardholders to pay insurance bills with their Southwest credit card, the airline is fostering habitual card usage. If consumers set up automatic payments, it ensures the card stays top-of-wallet, increasing retention and making it harder for competitors to win share-of-wallet.
5. Fold Launches Bitcoin Rewards Credit Card
The U.S. is Becoming the Crypto Capital of the World – Do You Need a Bitcoin Credit Card to Keep Up?
Fold recently launched its Bitcoin Rewards Credit Card with Visa, and demand is surging. I joined the email waitlist and landed at position #29,977.
💡Timing is everything:
- Demand is real. With nearly 30,000 people ahead of me, it’s clear that the excitement for Bitcoin rewards is real. With 600,000 debit cardholders already using Fold’s Bitcoin rewards program this launch builds on an established, engaged customer base—further signaling demand for crypto-native financial products. Beyond demand, Fold’s gamified waitlist strategy is a smart play—rewarding engagement with points for spending, referrals, and deeper use of Fold’s ecosystem.
- Could now be the time? Crypto ownership is rising, particularly among younger investors and nearly 40% of consumers are interested in using crypto for payments, highlighting demand for financial products that seamlessly integrate digital assets. We’ve seen crypto credit cards come and go, and Fold joins Gemini, who stuck it out with their own cashback credit card, and Crypto.com, which offers a prepaid debit card.
- Regulatory clarity could reshape the landscape. President Trump’s announcement of a U.S. Crypto Strategic Reserve signals a major policy shift. A March 7 White House summit with industry leaders could accelerate regulatory clarity, paving the way for institutional and mainstream adoption of Bitcoin and other digital assets. Between consumer demand, institutional backing, and evolving regulations, crypto’s role in financial services is expanding fast.
