CompoSecure Partners with Oxygen, a Leading Digital Financial Platform

The new Oxygen Elements debit card offers four unique levels of rewards for consumers

CompoSecure Holdings, L.L.C, a leading provider of premium financial payment cards and an emergent cryptocurrency storage and security solution provider, announced that it has partnered with Oxygen, a leading US neobank catering to the 21^st century economy, to offer cards for Oxygen Elements, a four-tier debit card rewards program.

CompoSecure partners with Oxygen, a leading digital financial platform, to help fuel the expected travel and spending boom.

The Oxygen Elements rewards program comes at a pivotal turning point for the economy. According to Deloitte Insights’ United States Consumer Spending Forecast, a robust labor market and $1.6 trillion in increased savings have put more money in the pockets of US consumers, and spending is expected to rise 8.1% in 2021 and 3% in 2022, despite a rise in anxiety surrounding the spread of COVID-19 variants. Deloitte’s report states: “The reopening of the consumer service sector is likely to result in a burst of pent-up spending as people return to restaurants, theaters, sports events and travel.”

Latest Fintech News: Sequence By Chain Looks To Capture the Permissioned Blockchain Market

“Programs like Oxygen Elements empower users to earn rewards, manage their purchases and increase savings,” said Jon Wilk, CEO of CompoSecure, which recently announced it had signed a merger agreement with Roman DBDR Tech Acquisition Corp., a special purpose acquisition company. “Our premium metal cards and excellence in manufacturing will enable Oxygen to get to market quickly and give consumers a taste of luxury each time they pull out their debit card, which builds brand loyalty and customer retention.”

The four Oxygen Elements rewards tiers – Earth, Water, Air and Fire – offer Oxygen cardholders a choice from an escalating menu of annual perks like increasing levels of cashback, escalating set of annual percentage yields (APYs), subscription savings from brands like Netflix and Peloton, retail and travel benefits in addition to premium metal cards for the top two tiers. The entry level tier, Earth, features no fees or qualifying criteria. Premium tiers (Water, Air and Fire) require meeting spend and deposit thresholds in addition to an annual fee, waived in subsequent years if spend and deposits thresholds are maintained. The savings feature offers APYs up to 17x¹ the current national average, empowering cardholders to reach their individual and holistic financial goals by allowing them to create separate goals and set rules to automate percentage transfers to their savings account or designated individual goal.

Latest Fintech News: Metaplace.finance, First 3.0 Decentralized Metaverse Marketplace on Binance Chain, E-Marketplace

“Elements sets the standard for the rewarding experience consumers will have now as travel, restaurants and shopping reopen,” said Hussein Ahmed, CEO of Oxygen. “CompoSecure’s premium metal cards differentiate our products and services, so they stand out in the consumer’s wallet.”

The Elements program gives Oxygen debit cardholders leading cashback rates of up to 6%² at approved merchants and retail and travel perks like PriorityPass™ Global Lounge access and Global Entry/TSA precheck reimbursement, both available on premium tiers. The peer-to-peer “Friends” money feature enables both one-to-one as well as group payments, making it easier to split bills with friends by a fixed dollar amount or percentage. To learn more about the Oxygen Elements loyalty program.

The cards will use CompoSecure’s metal dual-interface construction that enables tap-to-pay purchases. CompoSecure was selected for this new card program because of its manufacturing capabilities and capacity, which expedites the time to market. For more information on metal payment card design and manufacturing.