UBS is the first Swiss bank to issue a purely virtual credit card that can be used immediately. UBS is also introducing an environmentally friendly, sustainable credit card, which isn’t made of plastic, but of corn, according to the press release.
The UBS Virtual Cards will be launching at the beginning of next year: these credit cards will be available in a purely digital form for immediate use. Clients can register a digital version of their credit card with UBS TWINT, Mobile Pay, Apple Pay, Samsung Pay or Google Pay or use it in the online store.
UBS also launched the UBS Global Cards earlier this year, which are aimed primarily at frequent travelers and online shoppers and offer a real alternative to the products available at neo-banks. New debit cards have also been available since October. It’s the first time a debit card can be used for online shopping.
Also, UBS is the first Swiss bank to launch a sustainable credit card. The Optimus Foundation Credit Card Eco stands out because it’s made of environmentally friendly material: instead of plastic, it’s composed of the plastic substitute PLA, and is more than 80 percent biodegradable. PLA is obtained from animal feed corn (1) .
„Using the UBS Optimus Foundation Credit Card Eco is a simple and direct way to make a commitment to the children of this world with every transaction you make”, according to the bank. UBS transfers 0.75% of the total credit card spending (2) every year to the UBS Optimus Foundation. „By doing so, you can help to open up new prospects for thousands of children,” bank said.
1) the overlay, the chip, the antenna and the magnetic strip are non-biodegradable
2) Excluding cash withdrawals, interest and other charges.
„Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”