CPI Card Group® and Visa Launch Payment Card Made With Up to 98 Percent Upcycled Plastic
June 16 2020 - 7:00AM
Business Wire
Companies Will Globally Promote and Market
CPI®’s Earthwise™ High Content Card Through Exclusive Agreement
CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) (“CPI” or the
“Company”), a leading provider of credit, debit and prepaid
solutions, and Visa (NYSE: V) today launched the Earthwise™ High
Content Card. Made with up to 98 percent upcycled plastic,
depending on design, the Earthwise™ High Content Card makes for a
more sustainable payment card.
CPI created the Earthwise™ High Content Card, the first of its
kind endorsed by Visa, to help reduce first-use plastic in payment
cards and reduce plastic waste entering landfills. Through an
exclusive agreement, the companies will initially provide all
Visa-issuing financial institutions worldwide access to the
Earthwise™ High Content Card, which 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 100 percent 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. We’re proud that this offering will
ultimately benefit the entire payments industry and
environment.”
The Earthwise™ High Content Card 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. 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 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.
“We applaud Visa’s commitment to sustainability and its
first-to-market approach,” said Guy DiMaggio, SVP and General
Manager, Secure Card Solutions, CPI Card Group. “Taking steps to
protecting the Earth is an everyday priority for CPI. We hope our
efforts continue to empower issuers and cardholders everywhere to
help reduce the impact of plastic waste on our planet.”
To learn more about the Earthwise™ High Content Card, click
here.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments.
Our mission is to connect the world through the most innovative,
reliable and secure payment network - enabling individuals,
businesses and economies to thrive. Our advanced global processing
network, VisaNet, provides secure and reliable payments around the
world, and is capable of handling more than 65,000 transaction
messages a second. The company’s relentless focus on innovation is
a catalyst for the rapid growth of digital commerce on any device
for everyone, everywhere. As the world moves from analog to
digital, Visa is applying our brand, products, people, network and
scale to reshape the future of commerce. For more information,
visit About Visa, visa.com/blog and @VisaNews.
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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