Competition in payment cards is intensifying as fintechs and issuers fight for engagement and loyalty with new features and experiences. To stay competitive, financial institutions must take a data-driven, human-centered approach to product design. Key steps include using market research and spend analytics to identify whitespace opportunities, applying design methodologies like journey mapping, personas, and prototyping to refine user experience, and leveraging sentiment analysis and customer surveys to capture evolving preferences. These strategies enable issuers to craft future-ready card products that resonate with consumers and drive long-term value.

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