UK’s Royal Mint unveils first 18-carat gold payment card
The UK’s Royal Mint has produced the world’s first hallmarked solid gold payment card with Mastercard and Accomplish Financial.
The 18-carat gold card, which is the Royal Mint’s first ever payment card, is designed for those opening a Raris account.
The card and its accompanying Raris account will enable limitless spending, zero foreign exchange or transaction fees and, with Mastercard’s World Elite package embedded, a dedicated concierge service.
The Royal Mint’s CEO Anne Jessopp calls the card an “acknowledgement of growing consumer demands for unique and luxury payments cards”.
Luxury UK companies had the highest composite net profit margin of all Top 100 countries analysed by Deloitte’s ‘Global Powers of Luxury Goods 2019′ report. With a net profit margin of 14.2%, this stood 4.4% points above all other Top 100 countries’ net profit margins.
Priced at £18,750 per card, Raris account-holders can also see their name and signature directly engraved into the gold card for an extra amount.
“Raris leverages our technical capabilities to offer an account designed for the world’s most discerning clients with an emphasis on functionality and security,” says Accomplish Financial’s head of partnership’s Simon Bradley.
In the Royal Mint’s announcement, it says the card is designed for those who “value luxury items that make a statement”.
Hallmarked by Goldsmiths’ Company Assay Office, the card is also the first to be made by source-traceable metals certified under the Responsible Jewellery Council’s Chain of Custody.
Marrying 1,100 years of payments heritage in the Royal Mint with today’s payments technology, Mastercard’s UK president Mark Barnett says the four partners have created the “perfect link” between the old and the new.