CPI Card Group® Launches Second Wave™ Payment Cards Made with Recovered Ocean-Bound Plastic
September 12 2019 - 9:00AM
Business Wire
Company Enters into Agreement with One of the
Largest U.S.-Based Card-Issuing Financial Institutions to Supply
Debit and Credit Cards and Bring Second Wave™ Cards to
Consumers
CPI Card Group Inc. (Nasdaq: PMTS, TSX: PMTS) (“CPI”), a payment
technology company and leading provider of credit, debit and
prepaid solutions, today announced the launch of Second Wave™ – the
first payment card with a core made with recovered ocean-bound
plastic. Second Wave™ cards are EMV® and dual interface capable and
have achieved full certification through two of the major payment
brands. The new product is aimed at reducing first-use plastic and
diverting plastic waste from entering the ocean, offering companies
the opportunity to serve a growing market of
environmentally-conscious consumers.
Concurrent with the launch of Second Wave™, CPI has entered into
an agreement with one of the largest U.S.-based card-issuing
financial institutions to provide Second Wave™ cards in addition to
current debit and credit financial payment cards.
“The health of our environment is a shared responsibility of
businesses and consumers. Now more than ever, the issue of plastic
waste in the Earth’s oceans demands awareness and action from
people and businesses alike,” said Scott Scheirman, President and
CEO of CPI Card Group. “With Second Wave™, we are drawing attention
to the upcycling potential of plastic waste that is either in the
ocean or imminently ocean-bound. We estimate that for every one
million Second Wave™ payment cards produced, over one ton of
plastic will be diverted from entering the world’s oceans,
waterways and shorelines. Across CPI, we are proud to pioneer a way
to manufacture payment cards using recovered ocean-bound plastic,
while enabling us to meet the needs of financial institutions and
other segments of the card industry including transit, hospitality,
entertainment, and their respective cardholders.”
In a newly published white paper, titled “Payment Industry
Introduces Recovered Ocean-Bound Plastic Card,” CPI discusses how
recovered ocean-bound plastic cards can counteract damaging plastic
waste in oceans and bring value to the companies that embrace them.
In a recent CPI survey of debit and credit card users conducted by
an independent research firm, 96 percent of respondents noted being
concerned about plastic waste in the oceans and 83 percent found
the idea of a card made with recovered ocean plastic appealing –
with 58 percent willing to switch to another financial institution
if it offered such cards with the same features and benefits. To
download “Payment Industry Introduces Recovered Ocean-Bound Plastic
Card,” click here.
To learn more about Second Wave™, payment cards made with
recovered ocean-bound plastic, visit CPI Card Group’s website
here.
About CPI Card Group
CPI Card Group® is a payment technology company and leading
provider of credit, debit and prepaid solutions delivered
physically, digitally and on-demand. CPI helps our customers foster
connections and build their brands through innovative and reliable
solutions, including financial payment cards, personalization and
fulfillment, and Software-as-a-Service (SaaS) instant issuance. CPI
has more than 20 years of experience in the payments market and is
a trusted partner to financial institutions and payments services
providers. Serving customers from locations throughout the United
States, CPI has a large network of high security facilities, each
of which is registered as PCI compliant by one or more of the
payment brands: Visa, Mastercard®, American Express and Discover®.
Learn more at www.cpicardgroup.com.
EMV® is a registered trademark in the U.S. and other countries
and an unregistered trademark elsewhere. The EMV trademark is owned
by EMVCo, LLC
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ICR Inc. for CPI Card Group Sourav Das 203-682-8283
media@cpicardgroup.com
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