CPI Card Group® and Unifimoney Collaborate on Recovered Ocean-Bound Plastic Credit and Debit Cards
June 08 2020 - 9:12AM
Business Wire
Unifimoney to Issue Visa-branded, Contactless
Second Wave™ Payment Cards Featuring a Core Made With Recovered
Ocean-Bound Plastic
In celebration of World Oceans Day, CPI Card Group Inc.
(OTCQX: PMTS, TSX: PMTS) (“CPI” or the “Company”), a payment
technology company and leading provider of credit, debit and
prepaid solutions, today announced a collaboration with Unifimoney
Inc. to produce Visa contactless credit and debit cards featuring a
core made with recovered ocean-bound plastic. Named Second Wave™,
the high-quality card from CPI is EMV® compliant and dual interface
capable.
According to a CPI Card Group Consumer Insights Study, 94
percent of consumers say they are concerned about the amount of
plastic waste in the oceans. Additionally, 87 percent of
respondents find the idea of an ocean-plastic card appealing, with
53 percent willing to switch to another financial institution if it
offered such cards with the same features and benefits.
“We estimate that for every 1 million Second Wave payment cards
produced, over 1 ton of plastic will be diverted from entering the
world’s oceans, waterways, and shorelines,” said Guy DiMaggio, SVP
and General Manager, Secure Card Solutions, CPI Card Group.
Unifimoney has also partnered with The Ocean Foundation. Each
time Second Wave™ cards are used by its customers, Unifimoney will
contribute to The Ocean Foundation. Mark Spalding, President, The
Ocean Foundation said, “Unifimoney’s Recovered Ocean-Bound Plastic
Cards and our partnership represent a highly innovative model for
helping people engage and fund issues they care about like
protecting our ocean and coasts.”
Unifimoney will initially launch debit cards in Summer 2020,
which are issued by UMB Bank. Doug Pagliaro, Senior Vice President,
FDIC Sweep at UMB Bank, said “Being a strong community partner is
one of our core values at UMB, so we’re proud to be the issuer of
these environmentally friendly cards.”
“At Visa, we are working to make commerce greener and more
sustainable,” said Douglas Sabo, VP and Global Head of Corporate
Responsibility & Sustainability at Visa Inc. “We applaud this
innovative approach of Unifimoney. We are proud to be part of this
group of partners who are committed to supporting sustainable
practices and protecting our oceans.”
Ben Soppitt, CEO of Unifimoney, said, “This was a great
opportunity to support and lead the industry towards greater
sustainability and involve our users in protecting and restoring
the ocean environment. We want to bring new innovations to market
that help our customers and make a positive impact in the
world.”
To learn more about Second Wave™, click here.
About Unifimoney Inc.
High-performance banking. The first full-service neobank serving
young professionals. A single mobile account that seamlessly
integrates high-interest checking, credit/debit card and investing.
Users automatically and by default model best practice in personal
financial management, maximizing both their passive income today
and their long-term financial future effortlessly. Unifimoney will
be live in Summer 2020. www.unifimoney.com
Media contact joey.bienkahn@unifi.money
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
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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