Toronto-based tech company Flybits is testing a credit card that includes augmented reality features for transaction monitoring.

The XRCard aims to help users visualize their spending patterns and transaction histories through smart glasses.

The card uses generative AI to project information onto the glasses when users view the physical card. It also features voice interaction, which eliminates the need for a mobile app.

Flybits is currently conducting pilot programs with selected partners to test the XRCard.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ AR in banking has a decade-long experimental history

Flybits’ AR credit card represents the latest chapter in a long history of banks experimenting with augmented reality that dates back to at least 2014.

Westpac New Zealand pioneered this approach a decade ago with an AR feature that allowed customers to see their financial information in 3D by scanning their banking cards with their phone’s camera 1.

Several other financial institutions followed with their own AR experiments, including Commonwealth Bank of Australia’s property information app and National Bank of Oman’s branch locator 2.

Despite these early innovations, AR has struggled to find mainstream adoption in banking, with most consumers continuing to prefer mobile apps and websites for day-to-day financial management.

The technology has remained more experimental than practical, with Goldman Sachs’ 2018 projection of an $80 billion AR/VR market by 2025 appearing optimistic when viewed against actual consumer adoption rates 2.

2️⃣ Credit card competition shifting from rewards to interface innovation

Flybits’ XRCard represents a significant departure from current credit card market trends, which remain heavily focused on rewards, travel benefits, and interest rates.

While major card issuers like Capital One, Chase, and American Express continue to compete primarily on cash back percentages and sign-up bonuses (with offerings like $200-250 welcome bonuses and 1.5-8% cash back rates), Flybits is betting on interface innovation as a differentiator 3.

This approach aligns with broader 2025 banking technology trends that emphasize personalized customer experiences and AI-driven interfaces over traditional product features 4.