Bits is a financial services company committed to helping customers improve their credit scores and eligibility through a credit-building service.

By establishing a history of regular credit repayments, Bits aims to widen its customers' access to credit. Their core mission is to provide a simple and risk-free way for individuals to improve their financial well-being, offering a 0% interest credit card with no additional fees, including late payment fees.

In October 2023, Bits launched the Bits Edition One Credit Card, a product that helps customers build their credit by reporting repayments to major credit reference agencies like TransUnion, Equifax, and Experian. To further empower customers, Bits offers a physical card for everyday purchases at retailers.

The Problem

Bits faced two key challenges when launching their first-ever physical credit card:

1. Product design and quality: As a first-of-its-kind project for Bits, the transition from an online-only service to offering a physical credit card demanded the highest standards of quality. Bits needed to ensure the material, colour, and overall design of the card met their vision, maintaining the trust and confidence of customers new to their credit card service.
2. Consistency and assurance: Quality assurance was paramount, particularly because this was Bits' first entry into the physical credit card market. The timely and reliable manufacturing and delivery of the cards were critical in establishing trust and satisfaction among customers.

The Solution

Bits partnered with allpay cards to manufacture and produce the Bits Edition One Credit Card allowing the allpay cards team to play a vital role in supporting Bits’ challenges by:

• Providing prompt responses and updates throughout the manufacturing process, including details about card materials, design features, and production timelines.
• Ensuring the quality of the credit card’s design and physical attributes aligned with Bits’ expectations. The collaboration allowed Bits to craft a modern, simple, and aesthetically pleasing credit card that would appeal to its user base.

Through this close partnership, allpay cards successfully addressed Bits' concerns over design consistency and ensured timely delivery of a high-quality product.

The Result

The collaboration between Bits and allpay cards has been a tremendous success. Key outcomes include:

• Rapid growth: Since its launch, the Bits Edition One Credit Card has experienced over 10x growth in its user base year-over-year. This remarkable uptake speaks to the demand for Bits' credit-building solution and the role of the physical card in enhancing customer engagement.
• Technical enhancements: In addition to manufacturing the cards, Bits has made significant updates to the technical infrastructure supporting card usage. Customers can now make payments through various methods beyond continuous payment authority, including direct bank transfers or other cards via the Bits app, offering more flexibility and autonomy.
• Customer satisfaction: After launching, a customer survey showed high satisfaction rates with the card’s design, with users highlighting the simplicity, modern look, and clear presentation of relevant information. This feedback aligned with Bits’ goals to create a customer-friendly product that supports their financial journey.
• Improved customer support: Bits has expanded its customer support team to ensure faster response times and more diverse communication channels, including live chat and phone support. User-friendly educational videos were also created to address frequently asked questions, further enhancing the customer experience.

Through its partnership with allpay cards, Bits has successfully launched a high-quality, well-received credit card that supports its mission of widening access to credit and improving financial outcomes for its customers.

Faisal Khalid, CEO of Bits, commented: "allpay cards were instrumental in the success of our Bits Edition One Credit Card. Their responsiveness and attention to detail during the manufacturing process helped us deliver a product that not only met our high standards but also resonated strongly with our customers."