Barclay’s Community Credit Card Lets Users Influence The Card’s Terms [Future Of Retail]

Barclay’s Community Credit Card Lets Users Influence The Card’s Terms [Future Of Retail]

The Barclaycard Ring lets customers submit ideas about how they think their service should be managed.

Allie Walker
  • 21 july 2012

Our latest Future Of Retail Report looks at the trend of Crowdsourced Product Range. One manifestation of this trend can be seen in Barclays. The banking and financial services firm has introduced the Barclaycard Ring, a crowdsourced, community-powered credit card that lets cardholders influence decisions about how the card is managed and developed. Ideas are exchanged and new features are suggested for Barclaycard Ring via a cardmember forum, creating credit services from bottom-up ideation and decision-making, such as which changes should be made to the card’s terms.

The card operates in a uniquely transparent manner, sharing the card’s financial profit and loss statements with cardholders and showing how Barclays makes money from the service. In the spirit of co-creation, the card’s ‘Giveback’ program shares some of the profits with cardholders themselves, and the community can determine whether these profits go directly to members or are donated to charity.

Paul Wilmore, the Managing Director of Consumer Markets and the Barclaycard US, speaks about the decision to introduce a crowdsourced credit card:

Through simple and transparent terms, we want to pull back the curtain that has traditionally separated banks from their customers and give our community a say in weighing economic tradeoffs that can create a better cardholder experience. Some might say we’re creating a virtual credit union or community bank, but we’re taking that model much further by giving our members a seat at the table to help decide what card features and benefits are really best for them.

Barclays / Barclaycard Ring

A summary of the Future of Retail report is available to view for free – and a download of the full 100 page document can be ordered today.


Fitness Advocate: Paving The Future of Workouts With Audio

Fitness & Sport
Brand Development Yesterday

Swipe Left On A Dating World Built To Keep You Single And Disconnected

Hinge's VP of Marketing Karen Fein tells us about the service's daring ditch of the swiping culture that's designed to attract advertising revenue, not meaningful connections

Arts & Culture Yesterday

Marvel Comic Tells The Story Of A Heroic Syrian Mother

Madaya Mom is the true tale of a family trapped inside a town for over a year


Get PSFK's Related Report: Future of Automotive

See All
Retail Yesterday

Brooklyn Cafe Lets Customers Pay By The Hour, Not By The Cup

Glasshour is an establishment that provides free coffee and pastries and charges for the time guests spend there

Technology Yesterday

Electric Spoon Changes The Way Food Tastes

The Taste Buddy is being developed to manipulate your taste buds and make everything more delicious

Related Expert

Scott Bedbury

Brand Development Consultant

Travel Yesterday

Bike Path In Poland Can Glow For 20 Years Using Solar Power

Cyclists can follow the shimmering blue lanes for better safety each time they ride

Technology Yesterday

Open-Source Toolkit Lets Communities Build Their Own Street Furniture

The Wikiblock database contains 30 blueprints of different neighborhood fixtures including benches, bus stops, and kiosks

Food Yesterday

Tiny Pub Only Has Space For Three People

Make Time For It is a small London pop-up bar that encourages conversation without the distraction of technology


Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry

PSFK Op-Ed october 20, 2016

Wearable Tech Expert: Designing Technology To Empower Connection To Ourselves

Billie Whitehouse, Founder of Wearable Experiments, shares her new vision for the quantified self

PSFK Labs october 21, 2016

PSFK Picks: Top 5 Performance-Enhancing Wearables

Our new report looks at innovations pioneering the future of performance through intelligent activewear and predictive analytics

Work Yesterday

Community Builder: How to Hack Slack

Claire Wasserman, Founder of Ladies Get Paid, describes how she's using an internal team communication tool to build a network of thousands

Advertising Yesterday

This Beer Was Brewed Just For Scotch Drinkers

Highland Park Scotch Whisky & Sixpoint Brewery have teamed up to create two limited-edition pairings for New York City boilermakers

Mobile Yesterday

Let An AI Librarian Help Sort Your Digital Bookmarks

A new app uses machine learning to help organize your virtual life

Mobile Yesterday

Pizza Hut Tattoo Lets You Place An Order From Your Body

The latest gimmick from the fast-food chain is a tattoo-like sticker that lets customers get delivery with a simple tap on their arm

Travel Yesterday

Reinvented Bicycle Inspired By Supercar Design

The yellow bike based on a Lamborghini has sharp edges and an aluminum alloy frame

Health Yesterday

Health Platform Gives Perspective On Your Weekly Habits

Gyroscope is a new wellness app that works by amalgamating data about your life into beautifully designed visuals

Beauty Yesterday

Korean Beauty Brand Uses VR To Let Customers Pick Their Ingredients

Innisfree created a unique experience for its Shanghai Disneyland customers with a virtual reality trip to select what goes into their purchase

Arts & Culture Yesterday

3D-Printed Creations Resemble Floating Paper Outlines

Japanese design firm Nendo's exhibition features works that look like sheets of material being folded, torn, and crumpled

No search results found.