Visa is to roll out cards made from recycled plastic to all financial institutions globally. The card scheme has collaborated with CPI Card group to produce the ‘Earthwise High Content Card’, which is made with up to 98% upcycled plastic. The card is EMV compliant and dual interface capable, enabling both contact and contactless payment.
“Visa is committed to advancing sustainability in everything we do, from the 100percent renewable electricity that processes transactions in our data centers, to the sustainable card materials coming to cardholders’ wallets,” said Douglas Sabo, vice president and head of corporate responsibility and sustainability at Visa Inc. “Our collaboration with CPI signifies a further milestone in our efforts to drive our goal of inclusive growth with a commitment to protecting the environment.”
The Earthwise™ High Content Card, endorsed by Visa, will initially be Visa-branded. „This is the first time Visa has proactively worked with a partner to develop a financial card made with more sustainable materials to meet increasing interest from both issuers and consumers.”, according to the press release.
A recent CPI Consumer Insights survey of debit and credit card users conducted by an independent research firm, found 73 percent of respondents indicated it is “important” that their financial institution is environmentally-conscious, and over 57 percent would be interested in a card made with recycled materials.
The new card joins Earth Elements, CPI’s portfolio of more eco-friendly payment cards, which includes Second Wave, a payment card featuring a core made with recovered ocean-bound plastic.
The Earthwise™ High Content Card is produced using rPETG – a type of upcycled plastic. “Upcycled” is defined as the act of taking something no longer in use and giving it a second life and new function. CPI used its manufacturing strength and innovation to achieve a payment card that combines post-industrial rPETG with the essential, non-plastic components, including the EMV chip, antenna and adhesives, to create a card containing up to 98 percent upcycled plastic, depending on the final card design for each particular issuer. The new card joins Earth Elements™, CPI’s portfolio of more eco-friendly payment cards, which includes Second Wave™, the first to market, EMV® compliant, dual interface capable, high quality payment card featuring a core made with recovered ocean-bound plastic.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
