As economies reopen, businesses hire and the worst of the pandemic seems to be behind us, consumers are getting ready to resume spending – on their cards.
In an interview with PYMNTS, Jon Wilk, CEO of CompoSecure, which designs and manufactures cards, said he anticipates that metal payment cards will see greater usage, particularly in touchless, face-to-face transactions, as consumer spending picks up after more than a year of pent-up demand.
The conversation came against the backdrop where CompoSecure said this month that it would go public through a special purpose acquisition company (SPAC) merger with Roman DBDR Tech Acquisition Corp. The transaction values CompoSecure at $1.2 billion, on a net revenue base of $261 million as measured last year.
“The reason the SPAC route made sense for us,” according to Wilk, “is because in a SPAC transaction, you are able to tell the story not just of where you’ve been, but of where you’re going” with projections and forward-looking commentary.
Read the full article: CompoSecure On The Lures Of Heavy Metal Payment Cards – And SPAC Mergers
